Down, up to 35.k in weeks ahead,& down again-$BTC Chart Analysis
It looks like we received the pump we have on Bitcoin for a number of reasons- but the two most obvious to me is that 1) the price traded sideways outside of a channel, and 2), the 786 fib level of the overall move of the price was touched.
Now that we are where we are, we can observe the previous price levels above that have been tested, and the only one that hasn't been so far is the 35k range. Coincidentally, this range lines perfectly with the inverse 618 fibonacci level, and just below it, so does the 50% fibonacci level with yet another untested price range.
I am seeing this same pattern amongst all the alt coins, and even in the COIN stock itself. It seems if this is the move, and we've got quite a bit of confluence to back up this theory. That said, I expect a cool off for the next couple of weeks, another push upward to our targets for some weeks, and then downward before summer.. sooner rather than later, for sure.
Now that we are where we are, we can observe the previous price levels above that have been tested, and the only one that hasn't been so far is the 35k range. Coincidentally, this range lines perfectly with the inverse 618 fibonacci level, and just below it, so does the 50% fibonacci level with yet another untested price range.
I am seeing this same pattern amongst all the alt coins, and even in the COIN stock itself. It seems if this is the move, and we've got quite a bit of confluence to back up this theory. That said, I expect a cool off for the next couple of weeks, another push upward to our targets for some weeks, and then downward before summer.. sooner rather than later, for sure.
