Using the fibo-retracement on the daily chart, we can see 2 touches on the 38.2 retracement without had the power to get of and go until the 66 and beyond.
In my point of view the 2nd touch on the base of the retracement is crucial and can go either way. Long with with good ratio to profit ans short with also with a good profit to short a coin.
The fundamentals to me is many people are asking if this is a coin that has value or not, normally this comes from new people and people that don't understand the concept of crypto-currency. So in my point of view there is a lot of interes of getting people on board the Bitcoin. That being said i probably would bet to the bearish side of the coin.
Any way, i am not a specialist and no professional financial advisor, so my opinion could be wrong and this shouldn't be seen as an advice.
I just have 3 month's on crypto currency, if someone think or would like to comment my idea feel free, i am alll ears to all concepts of trading crypto and other assest's.
In my point of view the 2nd touch on the base of the retracement is crucial and can go either way. Long with with good ratio to profit ans short with also with a good profit to short a coin.
The fundamentals to me is many people are asking if this is a coin that has value or not, normally this comes from new people and people that don't understand the concept of crypto-currency. So in my point of view there is a lot of interes of getting people on board the Bitcoin. That being said i probably would bet to the bearish side of the coin.
Any way, i am not a specialist and no professional financial advisor, so my opinion could be wrong and this shouldn't be seen as an advice.
I just have 3 month's on crypto currency, if someone think or would like to comment my idea feel free, i am alll ears to all concepts of trading crypto and other assest's.
Any idea, any comment will be well come.
There is also other indicator that could help a better analisys.