Bitcon's road to $74.000
Here is an easy analysis using simple but effective Fibonacci and basic support and trend lines how Bitcoin can reach a new high under the new hype driven by most probably regulated institutional access to purchase and hold cryptocurrencies based on whatever global reason such as an ETF or customer account management in developed countries like happening in Germany, or a distrust well deserved by traditional finance system debt risk.
The road to the previous high can already be supported by a new and forming ascending triangle with a resistance at 13700 which is once delivered can shoot up to 20.000 previous high. Once correction has happened, the breakout of 20.000 can lead the way to 30.000 confirming the new uptrend and can lead into a new accelerating rise until the "great correction 2018-2020" driven Fibonacci levels which are targeting the top of the new hype cycle with stages at Target 4 - 47.000, then finally Target 5 - 74.000.
The road will be still hectic along with high volatility with a timeframe hard to predict but most probably somewhere around 2022 and 2023 reaching the top where it will be again time to go for safety.
The above is not a financial advise, but a realistic scenario, good luck on the ride.
The road to the previous high can already be supported by a new and forming ascending triangle with a resistance at 13700 which is once delivered can shoot up to 20.000 previous high. Once correction has happened, the breakout of 20.000 can lead the way to 30.000 confirming the new uptrend and can lead into a new accelerating rise until the "great correction 2018-2020" driven Fibonacci levels which are targeting the top of the new hype cycle with stages at Target 4 - 47.000, then finally Target 5 - 74.000.
The road will be still hectic along with high volatility with a timeframe hard to predict but most probably somewhere around 2022 and 2023 reaching the top where it will be again time to go for safety.
The above is not a financial advise, but a realistic scenario, good luck on the ride.
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