Honestly I didn't expect this to happen, but also I'm not that surprised. It's been a tradition for the price to hit .618 fib extension of the previous high:
I'm still bearish and I think that during 2019 we'll visit the low 3 000 and possibly even sub 3K (I still have my bottom target of 1800) because:
1. Still in macro downtrend channel
2. My EW count is still valid ( currently in 3-wave correction of the Nov-Dec dump)
3. The pattern looks like a bear flag
However if I'm wrong (BTC>5600) I'll post an update with my thoughts and ideas.
Trade safe.
p.s. there will be good long setups for alts in the next couple of days.
I'm still bearish and I think that during 2019 we'll visit the low 3 000 and possibly even sub 3K (I still have my bottom target of 1800) because:
1. Still in macro downtrend channel
2. My EW count is still valid ( currently in 3-wave correction of the Nov-Dec dump)
3. The pattern looks like a bear flag
However if I'm wrong (BTC>5600) I'll post an update with my thoughts and ideas.
Trade safe.
p.s. there will be good long setups for alts in the next couple of days.
