BTC: The Fib Affection and Possible Outcomes
Bitcoin has dutifully followed its favored path, capturing the full swing to the 4.618 Fibonacci level—a historical sweetheart location. Current positioning still leaves room for growth up to $43,544 without showing definitive signs of weakness. But the potential for a correction looms in the overbought zones, one which could invite bears to the surface temporarily, issuing a false alarm before setting the stage for possible escalations into the $80k-$90k territory. Investors would be wise not to act prematurely, perhaps instead enjoying a leisurely glass of mulled wine as Q1 2024 promises enough bullish momentum.
open.substack.c...ding-investment?r=1gn5e3&a...
Bitcoin has dutifully followed its favored path, capturing the full swing to the 4.618 Fibonacci level—a historical sweetheart location. Current positioning still leaves room for growth up to $43,544 without showing definitive signs of weakness. But the potential for a correction looms in the overbought zones, one which could invite bears to the surface temporarily, issuing a false alarm before setting the stage for possible escalations into the $80k-$90k territory. Investors would be wise not to act prematurely, perhaps instead enjoying a leisurely glass of mulled wine as Q1 2024 promises enough bullish momentum.
open.substack.c...ding-investment?r=1gn5e3&a...