Before I head to sleep, I'd like to provide you with some information about Bitcoin I've determined will be useful to you all.
The back in 2014, Bitcoin retraced 65% of it's bullish movement up. This occurred from it's top, "November 30th, 2013 @Approximately $1173 Price Per Bitcoin". A then 65% retracement to $417.74 December 18th, 2013. Followed by a 136% price increase, the confirmation and retest on January 6th, 2013 ($988.13) and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
In 2017, we saw a similarly occurrence. Bitcoin retraced 45% of it's bullish movement up. This occurred from it's top, "December 17, 2017 @Approximately $19764 Price Per BItcoin". A then 45% retracement to $10890.63 @ December 22nd, 2017. Followed by a 58% price increase, the confirmation and retest on January 6th, of 2018. ($17135) (Notice a pattern), and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
If we estimate that this year we will see a reduction in the retracement level by another 20%, (Making it approximately a 25% pull back from the ATH. We will have a bottom @ approximately, ($51900 Price Per Bitcoin on December 3rd through the 6th) followed by a 24.7% price increase, the confirmation and retest on January 6th, of 2022. Approximately $65526) and then proceed to break the lows and consolidate for the next 3-4 years.
See it here:
The back in 2014, Bitcoin retraced 65% of it's bullish movement up. This occurred from it's top, "November 30th, 2013 @Approximately $1173 Price Per Bitcoin". A then 65% retracement to $417.74 December 18th, 2013. Followed by a 136% price increase, the confirmation and retest on January 6th, 2013 ($988.13) and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
In 2017, we saw a similarly occurrence. Bitcoin retraced 45% of it's bullish movement up. This occurred from it's top, "December 17, 2017 @Approximately $19764 Price Per BItcoin". A then 45% retracement to $10890.63 @ December 22nd, 2017. Followed by a 58% price increase, the confirmation and retest on January 6th, of 2018. ($17135) (Notice a pattern), and then proceeded to break the lows and consolidate for the next 3-4 years.
See it here:
If we estimate that this year we will see a reduction in the retracement level by another 20%, (Making it approximately a 25% pull back from the ATH. We will have a bottom @ approximately, ($51900 Price Per Bitcoin on December 3rd through the 6th) followed by a 24.7% price increase, the confirmation and retest on January 6th, of 2022. Approximately $65526) and then proceed to break the lows and consolidate for the next 3-4 years.
See it here:
