Ok with my [last post](https://steemit.com/bitcoin/@kevinbacon/daily-candles-scary-times-but-it-s-leverage-buy-time) calling the bottom within [3 minutes](https://steemit.com/bitcoin/@kevinbacon/dumb-luck-i-called-the-bottom-within-3-mins)(lucky) I thought I would look at targets for this bounce.

![](https://steemitimages.com/DQmfRA2GLjKqBggsmQuBPiQVgzdRShWsFoaazRxmamDotFR/image.png)

## Fibonacci Retracements  

The 2 colourful walls you see are the Fibonacci retracement targets. The left one drawn from the 20 high to the low, and the right one from the 11.8k area that we held for a week or 2 last month.

Whether they work because, a mass of humans making emotional decisions are predictable, or because enough traders think they work, I am not sure.  But you will regularly find bounces around key fib supports.

## My Targets

My marco plan for this year is to sell all near 20k and then buy heavy if it breaks above, as I think if it does it will be the start (middle) of a bull run to 50k+ (no real upper limit).  But as I bought heavy in 7.5 to 8.5 range, I need to reduce position before 20k.

### 9.6k and 10.k

7.5-11.8 50% and 61.8% fibs, only small sells to deleverage myself. 

### 11.8k

The 100D MA, it held the price up for nearly 2 weeks in the drop and I expect it to be equally troublesome on the way up.  In fact if we get a strong rejection of it we may be in for further falls.  

### 13.5k and 15k

7.5-20 50% and 61.8% fibs. While the other I expect to hit in the next week or so, the timeframe on these are months.

Thanks for reading.

KevinBacon

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## More posts

If you like this post there will be more like it on [my posts page](https://steemit.com/@kevinbacon), this account will be dedicated to posting about trading cryptocurrencies and maybe a bit of general stock markets. 

If that sounds good please consider upvoting, following or resteeming.  If you are feeling particularly wild you could do all 3.

## Disclaimer

Please do not invest on the advice of a stranger on the internet, only use this advice here as a starting point for your own research, and then if you choose to invest please only invest an amount that you can afford to lose.

![dont-know-25547_960_720.png](https://steemitimages.com/DQmeFGZRGdBKh341vRR1q3d7TpABTHLCskXnyko899K5CaS/dont-know-25547_960_720.png)
Made with [this pic](https://pixabay.com/en/don-t-know-give-up-clueless-figure-25547/) as a template