BTC update

17 Nov

BTC is at a pivotal fib range here and usually things that go to 90 like to climb to 100 for good measure before a correction. I added a fib extension here and you will quickly notice how nicely these fibs line up, this often happens in price discovery of an asset. The golden fib, "golden ratio" or 1.618/618 is noted here as a rejective area. The weekly stochastic RSI has some room, a cool off would be reasonable, the BBWP has plenty of expansion left for a run. I think we rip next week after this minor consolidation. The next fib is right around 100k, this makes sense. A solid 15% correction from there would line up with the momentum trend (purple line) and an intersecting fib as well.

Summary:

Long to 100k, correction to 85-87.5k