Well, the long-awaited day is upon us today. Today will mark the highest Bitcoin monthly close AND the highest price to date. Bitcoin is slowly, but surely inching its way higher week after week. Looking ahead, we see Bitcoin has clear skies above and nobody knows how far BTC will go going into next year. If we take and Fibonacci extension from the 2 previous bull runs, we see price typically makes a 61.7% to 78.6% extension from the previous bear market bottom. Following this same logic, we can project BTC "might" see its next cycle top in the price range of $60,000 - $140,000. This may shock some, but the same could be said when BTC price was under $1,000 back in 2016. Please keep in mind, there will be MANY scary dumps along the way that will shake out many over-leveraged traders. There will be many traders calling the cycle top in the coming months, stay rational, and don't let your emotions be in control of your decisions. In my previous analysis that predicted this current parabolic price movement, we're seeing I listed all the reasons BTC will see a price increase from a technical and fundamental viewpoint.
If you would like to view that post please see the link below.
Keep in mind, a logical and patient approach is key to making consistent profits regardless of the market.
If you would like to view that post please see the link below.
Keep in mind, a logical and patient approach is key to making consistent profits regardless of the market.
Comment:
Everything is going smoothly so far, we may have a few bumpy weeks ahead at some points, but overall we are on track!
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Not bad....