BTCUSD: $280,000 BITCOIN STILL IN PLAY!
Folks, do NOT panic! We are perfectly on schedule to hit that S2F 288k Price Target!
Notice the immaculate symmetry from the previous cycle. The 1.618% Fix Extension has been hit (as it was in 2017) where we paused briefly before the eventual parabolic move.
This popped 329.88% once the 1.618 broke. And that similar move this year puts us exactly at 280kish!
Not coincidentally, that area between the 1.27 & 1.618 extension (green zone) proved to be the next bottom after the peak. Today that would put bitcoin's next bottom EXACTLY where we are now (between 50k-60k range).
A 76.8% pullback from the top price target of 288k puts us ALSO exactly where we are now. Why is the 76% fib retracement important this time around? because both previous bottoms were 86% and 80% respectively. With more money in the space volatility should also dampen therefore I expect diminishing blow off tops but also diminishing crashes & pullbacks.
The point is, we are EXACTLY where we need to be.
Expect a few more days of consolidation around this 50k-60k area. But it is clearly evident that this is simply a pit stop before 85k, 120k, 146k & eventually 220k-280k cycle top!
Trade well,
Neofx
Notice the immaculate symmetry from the previous cycle. The 1.618% Fix Extension has been hit (as it was in 2017) where we paused briefly before the eventual parabolic move.
This popped 329.88% once the 1.618 broke. And that similar move this year puts us exactly at 280kish!
Not coincidentally, that area between the 1.27 & 1.618 extension (green zone) proved to be the next bottom after the peak. Today that would put bitcoin's next bottom EXACTLY where we are now (between 50k-60k range).
A 76.8% pullback from the top price target of 288k puts us ALSO exactly where we are now. Why is the 76% fib retracement important this time around? because both previous bottoms were 86% and 80% respectively. With more money in the space volatility should also dampen therefore I expect diminishing blow off tops but also diminishing crashes & pullbacks.
The point is, we are EXACTLY where we need to be.
Expect a few more days of consolidation around this 50k-60k area. But it is clearly evident that this is simply a pit stop before 85k, 120k, 146k & eventually 220k-280k cycle top!
Trade well,
Neofx
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