Future of Bitcoin
Fibonacci numbers (blue vertical lines) and ratios (purple) applied on time.
In case of failure, we break 450, and should expect 260 (last bubbles top)
If we keep climbing up and break top resistance expect rally up to 3000 - 4000.
Infact targets like 10k for the next bubble are unreasonable.
The next bubble will be more like a last breath of the bulls,
before a major correction to around 440 (current bottom level).
A major correction is needed to balance out the
bearish divergence of the last bubble (see weekly RSI etc.)
Only then we will find ourself in a more modest uptrend with
next bubble peaking around 18k at fib number 8 at beginning of 2017.
In case of failure, we break 450, and should expect 260 (last bubbles top)
If we keep climbing up and break top resistance expect rally up to 3000 - 4000.
Infact targets like 10k for the next bubble are unreasonable.
The next bubble will be more like a last breath of the bulls,
before a major correction to around 440 (current bottom level).
A major correction is needed to balance out the
bearish divergence of the last bubble (see weekly RSI etc.)
Only then we will find ourself in a more modest uptrend with
next bubble peaking around 18k at fib number 8 at beginning of 2017.
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