Battle of fib 0.61 resumed

22 Des 2017

Opportunistic trading in altcoins eventually resulted in BTC breaking its important 0.61 fib support zone around 14.150, followed by a free fall down to the next support level at 0.5 fib around 12.500 tonight. At the time of this writing, 0.61 fib is tested again, as an even sharper decline of altcoins may have helped sort out some opportunistic altcoin trading & may eventually lead to a new alliance of bullish crypto traders with BTC. Anyway, the recent significant fall below 0.61 fib indicates our correction is not yet bottomed-out. Even a fib 0.38 support zone may be tested soon, where a rebound is very likely.