You guys are so smart, I bet all of you are millionaires
VovaMihalovich
⋅
Bitcoin will reach $ 14,000 by mid-January 2018
Piohal
⋅
So are we looking to hit a 12,700 target before the major retracement back to 8000?
Piohal
⋅
@Piohal, I am thinking about trading all my btc to usdt. Is this a good idea, or should i just hold the btc and wait and hope it reaches the 12700 target instead of further retracement?
SpleenToe
⋅
@Piohal If you trade now, you're accepting an initial ~25% loss (to 12700) before you get your <25% gain (once it reaches 8000) IF things even pan out. I'd recommend not worrying so far ahead yet.
Also notice, while the dollar amounts are certainly close to fitting the Fibonacci ratios, they are not exact. I wouldn't trade on exact numbers like 12700 without having a few other clear indications there's a reversal. I believe a trader can't make good decisions if they try to plan a day trade weeks in advance.