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My Ten cents worth - not financial advice and not a expert, this is just my thoughts.
So far we are following the historical data that we have available.
Looking at this data and using the Fibonacci Retracement tool, a target of around 68k is were BTC could reach before another correction takes place of 20 - 30%
On the 4 hr chart we could see some side ways action or a retracement at around 62k.
In my opinion, we will retrace then build support at the previous all time Zone of 56k to 58k before looking to push to the 68K mark shown on the daily chart. This would be good as decent support is needed the higher we climb with out it we wont see the magical 100k that some tubers and others speak of.
The other potential outcome which looks to be forming is a elliot wave pattern, this was brought to my attention by a friend - looking at the elliot wave, falls in line with current prediction - but has an extended price prediction of 70 - 75k. Following this path would see a trend reversal to a decline, once at the peak of the elliot wave we would need to see a break off from this pattern or an extension to continue are path upwards. Personally i think the 100k mark for BTC is very ambitious.
Although there are signs there that it could happen, the btc dom needs to keep climbing to around 70% on order to reach it.
Anyways guys & gals my 10 cents worth, hope this helps people with there own research and opinions. Trade Safe
media.discordap...l9z6op8dv51.png?width=994&...
My Ten cents worth - not financial advice and not a expert, this is just my thoughts.
So far we are following the historical data that we have available.
Looking at this data and using the Fibonacci Retracement tool, a target of around 68k is were BTC could reach before another correction takes place of 20 - 30%
On the 4 hr chart we could see some side ways action or a retracement at around 62k.
In my opinion, we will retrace then build support at the previous all time Zone of 56k to 58k before looking to push to the 68K mark shown on the daily chart. This would be good as decent support is needed the higher we climb with out it we wont see the magical 100k that some tubers and others speak of.
The other potential outcome which looks to be forming is a elliot wave pattern, this was brought to my attention by a friend - looking at the elliot wave, falls in line with current prediction - but has an extended price prediction of 70 - 75k. Following this path would see a trend reversal to a decline, once at the peak of the elliot wave we would need to see a break off from this pattern or an extension to continue are path upwards. Personally i think the 100k mark for BTC is very ambitious.
Although there are signs there that it could happen, the btc dom needs to keep climbing to around 70% on order to reach it.
Anyways guys & gals my 10 cents worth, hope this helps people with there own research and opinions. Trade Safe