Now, I know $500k sounds like pure hopium, but read this.
Bitcoin has got a history of defying the odds, with gains of +1500%, +10,000% to even +60,000% in the not so distant past!
See these green lines and orange zones? Those could be our pitstops on the way to half a million, according to this simple Fibonacci analysis .
Here's the important part: This is all about percentages, not the overwhelming dollar signs! Sure, $15k to $500k sounds like a lot (it is!), but compared to Bitcoin's past, it's not THAT crazy. Remember the jump from $150 to $20k ? That's an 11,000% increase! This chart suggests something similar percentage-wise.
So, what do YOU think? Is $500k Bitcoin a dream or a possibility? Let me know in the comments and share your thoughts!
Bitcoin has got a history of defying the odds, with gains of +1500%, +10,000% to even +60,000% in the not so distant past!
See these green lines and orange zones? Those could be our pitstops on the way to half a million, according to this simple Fibonacci analysis .
Here's the important part: This is all about percentages, not the overwhelming dollar signs! Sure, $15k to $500k sounds like a lot (it is!), but compared to Bitcoin's past, it's not THAT crazy. Remember the jump from $150 to $20k ? That's an 11,000% increase! This chart suggests something similar percentage-wise.
So, what do YOU think? Is $500k Bitcoin a dream or a possibility? Let me know in the comments and share your thoughts!
Note
The recent sideways price action and lack of a breakout above $74k suggests 500k might not happen as soon as I initially hoped for.Based on current technical analysis, I'm seeing indications of a possible Triangle pattern forming.
In Elliott Wave Theory, triangles appear in the fourth wave of a five-wave impulsive move, suggesting a potential final upwards move before a bigger correction unfolds.
However, the steepness of this potential wave (e) is concerning.
It's steeper than I'd prefer, which adds a layer of complexity to my analysis.
Note
It's like we got a Leading Diagonal wave i and just finished wave ii as price reversed exactly from the 61.8% retracement level.In my opinion it's not worth it to keep a long position if price drops below 67.500$ and even less if it closes below 66.200$ which is the 78.6% retracement level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.