A mid term view of what might happen with bitcoin next 4-6 weeks

4 nov 2017

Bitcoin has shown an amazing strenght during the past few weeks, this week it hasn't stopped getting higher and higher, it seems unstoppable but I think btc needs a break right now. In my opinion his objective for the b2x fork are $8228, an objetive that fits (aprox.) with the top of the midterm channel for the day of the fork and fibonacci extension, but before that happens I think it will respect the top of the midterm channel and it should do a pullback to its last ath and fibonnacci extension $6220 during the next week. After that the fomo might kick in making bitcoin fly to its fibonacci objective, $8228 finishing the 5th elliot wave and starting a correction to, at least, $4979, creating a pull back to previous ath, like it did in September with a full pullback to June's ath.