BitcoinLong
Bitcoin To $1,000,000?
Bitcoin has been trading inside of a channel from as far back as 2013. We have seen 3 bounces off the upper trend and arguably two bounces off the lower trend.
Bitcoin has recently made a new all time high and now its looking like its on another bullrun.
Using Fibonacci levels from the previous moves we can see that initially Bitcoin hit the -15 Fib at $19,931.
Each retracement stage reaches the 0.764 Fib before continuing the bullish trend.
The second run hit the -2.618 at $69,654 in 2021, a key level amongst crypto Fib levels.
Therefore, using the same approach we can assume that Bitcoin will continue to trade within this channel, highlighting those two key Fibs on the current move, the -2.618 and -15, $237,346 and $1,035,805 respectively.
These two levels are potential tops, and important when deciding what you plan to do with your Bitcoin investments
This coincides with the fundamental landscape being set out by Trump, with his harsh tariffs on Canada, Mexico, Europe and China he is very likely going to cause bottleneck inflation. Combine this with the Federal Reserve lowering interest rates, the yield curve uninverting, geopolitical risk and energy supply bottlenecks for the AI industry. I believe we are about to see a substantial outflow of money from the stock market and into safer assets, classically Gold, but the evidence is clear that Bitcoin is becoming the very same.
Take a look at my S&P500 idea, which coincides with a bullrun for Bitcoin
Bitcoin has recently made a new all time high and now its looking like its on another bullrun.
Using Fibonacci levels from the previous moves we can see that initially Bitcoin hit the -15 Fib at $19,931.
Each retracement stage reaches the 0.764 Fib before continuing the bullish trend.
The second run hit the -2.618 at $69,654 in 2021, a key level amongst crypto Fib levels.
Therefore, using the same approach we can assume that Bitcoin will continue to trade within this channel, highlighting those two key Fibs on the current move, the -2.618 and -15, $237,346 and $1,035,805 respectively.
These two levels are potential tops, and important when deciding what you plan to do with your Bitcoin investments
This coincides with the fundamental landscape being set out by Trump, with his harsh tariffs on Canada, Mexico, Europe and China he is very likely going to cause bottleneck inflation. Combine this with the Federal Reserve lowering interest rates, the yield curve uninverting, geopolitical risk and energy supply bottlenecks for the AI industry. I believe we are about to see a substantial outflow of money from the stock market and into safer assets, classically Gold, but the evidence is clear that Bitcoin is becoming the very same.
Take a look at my S&P500 idea, which coincides with a bullrun for Bitcoin
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