alanmasters

Bitcoin | The Last Bullish Monthly Candle? Peak At $46k or $73k?

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Thanks a lot for your support.

We are likely to be witnessing the last monthly bullish candle before Bitcoin starts to retrace... How far up will it go?

Looking at our Fibs. on this chart, based on the monthly timeframe , we have the following resistance levels coming up next:

1) $36200 (very close)
2) $40700
3) $46400 (Golden ratio, Potential peak/top)
4) $62970
5) $73200 (Secondary potential peak/top)

Predicting how far up it ends up going is really hard, only the market makers really know but we can make an educated guess...

First thing, we are likely to wick out.
  • Looking at past history, the final jump is always very strong.
  • Looking at recent action, it can go way longer, further, higher, and be stronger than anyone knows...

For now, my main target on this chart is set at $46,000... We can extract more numbers after this level is hit if it is hit.
But currently, we surely have room for additional growth.

The TD Sequential started a new count but after the positive 9, we tend to get a long wick on a new #1 candle and then a retrace... This is shown in the monthly analysis I shared multiple times before.

Here is the previous analysis based on the monthly timeframe and the TD Sequential... Hit PLAY and read it to get the bigger picture:
Bitcoin Monthly $300k | TD Sequential (8+9 = 1 = Higher High)

Thanks a lot for your continued support.

Namaste.
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Comments

Brilliant Alan. Any analysis on Ethereum?
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