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BTC/USD Retracement Back to 50% Fibonacci Level at $4400

Posted On 18 Oct 2017
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Hi trader,

we have been following BTC/USD for the last few months, including two BTC/USD trade setups. One was focused on a bullish break and hitting $5000 and the second was a bearish retracement back to around $3500 for a further uptrend continuation towards $5500.

Both scenarios played out exactly as expected: the bullish move hit $4950 (target was $5000) and the retracement went back to $3000 (bounce $3500) before ultimately hitting $5800 (target $5500) just a few days ago. Cha-ching! 🙂

Now the next question: what’s next? This article shares our vision for Bitcoin versus the US Dollar, BTC/USD, for the next weeks.

(more…)

Source:: BTC/USD Retracement Back to 50% Fibonacci Level at $4400

About the Author
Elite CurrenSea (ECS), founded by Chris Svorcik & Nenad Kerkez, is an award-winning Forex, CFD & Cryptocurrency trading solution provider. [space height="20"] Nenad & Chris offer market analysis, free education and proprietary trading systems. Their combined trading experience of over 30 years helps them to navigate the markets applying their favourite Wave Analysis Theory (Chris Svorcik) and Camarilla Trading Method (Nenad Kerkez). [space height="20"] You can learn more about the service provider through their website HERE

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