Bitcoin Price Objective at the end of current cycle
After analyzing where current fall could take us, in terms of price. The conclusion I dropped into is represented in the following chart. Again, this is just an objective analysis taking into consideration nothing else but the price. For this propose, I have used the Fibonacci retracement tool wich is widely used and very accurate ratio. To my surprise applying both Fibos on te current hole cycle and a 3 impulse retracement on recent fall results in the same spot.
Here I leave the link: https://es.tradingview.com/x/U7srp3mH/
Do you really think BTC will fall to 1600? It would be disastrous to Steemit in this phase. People will feel bad about it because the price of BTC is surely going to pull down all other currencies.
Such a situation would not last long. That would be also a good buy opportunity.
That are the typical movments and cycles that other makets do. It may sound as something to worry, but it is certanly not, if something, the these small falls serve as a foundation of a reasoble groth and avoid bubbles.
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