BITCOIN: Easy Price Projection
Here's my two cents about this cycle for Bitcoin:
Using the Trend-based Fibonacci Extension tool, from the lowest point of the 2014-2015 correction (two cycles ago), to the highest point of the previous cycle (previous ATH), one can see that these specific Fib levels have a major importance:
- the 0.236 ($9788) was a major S/R flip for the past two years
- the 0.382 ($19414) aligns perfectly with the previous ATH and brought some resistance with it
- the 0.5 ($33766) is our most recent target and BTC is currently fighting to break it
Now, the 0.618 (& Golden Pocket), at $58-68k is what I believe will be our next mid term target, that will trigger a local high for this bull cycle. Mark these levels and let's see how things will play out. Stay safe peeps!