The price of Bitcoin has risen to the highest level since late August, reaching almost 12000 USD. The whole upward movement has started after the potential “abc” running correction which has appeared within an upward trend.
It seems that after the break of 12473 USD the market may move towards the top from June at 13880 USD. Above this level, a 100 percent Fibo expansion is set at 14656 USD. If this level is also broken the price may accelerate to the all-time high.
It seems that only a move below the bottom of 9850 USD may change the view from bullish to bearish.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
It seems that after the break of 12473 USD the market may move towards the top from June at 13880 USD. Above this level, a 100 percent Fibo expansion is set at 14656 USD. If this level is also broken the price may accelerate to the all-time high.
It seems that only a move below the bottom of 9850 USD may change the view from bullish to bearish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
