BTC update

Yoy dont have to be a specialist to see whats happening here. BTC slowly rising in a sort of wedge. Waiting to make a move, we see more bullish power then bearish on a short term.


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BTC update 31st July

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BTC now trading around 7710. As you know fibonacci retracement happens a lot in the world of bitcoin. The magic number we are looking is 0.618 (61.8%). If we look at the first retracement in the image you will see that the lowest point compared to the highest point is the total fib range. At the end of the retracement you see we are at 61.8% and had a run up. If we look at the seccond fib retracement we see the same thing. Currently we are at the 0.618 (61.8%) level again so we should expect a run up. To determine how much of a run it will be, we can take the whole fib range (0 to 1) and this would determine how high the run could be seen from the 0.618 fib level. In this case we could see a run towards 8950. I know this is a bit confusing if you don't do technical analysis etc. but maybe we can learn something together. We also want to let you guys know we don't grab some random numbers and hope these are the correct ones ;) Conclusion : fibonacci at support level 0.618 and we
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