Author: Yuval Gov
Over the past days since our latest price analysis and overview, we saw Bitcoin consolidating around the $5400 - $5500 range. As we can see, the current high since the severe drop lies at $5620 which is precisely where Fibonacci retracement level of %38.2. This is the first significant resistance area before a possible correction.
Along with our long-term prediction, in my opinion, the Bitcoin market had just started the last cycle which is known as capitulation. This doesn't mean that the Bitcoin is bullish from now on, but after a long period of consolidation, the capitulation is the latest stage of the market cycle. Bitcoin will decide to turn bullish once most of the people declare on "its death", and this we've not seen yet.
11/18/2018 / 08:29:40 Source: cryptopotato