BitcoinLong
Bitcoin Bulls To 1 Million?
Updated
Bitcoin has been trading inside of a channel from as far back as 2013. We have seen 3 bounces off the upper trend, with one false break and arguably two bounces off the lower trend so far.
Bitcoin has recently made a new all time high and now its looking like its on another bull run, however price is approaching key resistance at the equilibrium line. Should Bitcoin break above this with momentum, we could well see 1 Million hit before this bull run ends.
Using Fibonacci levels from the previous high to low moves we can see that initially Bitcoin hit the -15 Fib at $19,931.
Each retracement stage reaches the 0.764 Fib before continuing the bullish trend.
The second run hit the -2.618 at $69,654 in 2021, a key level amongst crypto Fib levels.
Therefore, using the same approach we can assume that Bitcoin will continue to trade within this channel, highlighting those two key Fibs on the current move, the -2.618 and -15, $237,346 and $1,035,805 respectively, as well as the previous high low -15 Fib at $317,790 as another point of interest
These two/three levels are potential tops, and important when deciding what you plan to do with your Bitcoin investments
This coincides with the fundamental landscape being set out by Trump, with his harsh tariffs on Canada, Mexico, Europe and China he is very likely going to cause bottleneck inflation. Combine this with the Federal Reserve lowering interest rates, the yield curve un-inverting, geopolitical risk and energy supply bottlenecks for the AI industry. I believe we are
about to see a substantial outflow of money from the stock market and into safer assets, classically Gold, but the evidence is clear that Bitcoin is becoming the very same.
Take a look at my S&P500 Short / end of bull run idea:
Bitcoin has recently made a new all time high and now its looking like its on another bull run, however price is approaching key resistance at the equilibrium line. Should Bitcoin break above this with momentum, we could well see 1 Million hit before this bull run ends.
Using Fibonacci levels from the previous high to low moves we can see that initially Bitcoin hit the -15 Fib at $19,931.
Each retracement stage reaches the 0.764 Fib before continuing the bullish trend.
The second run hit the -2.618 at $69,654 in 2021, a key level amongst crypto Fib levels.
Therefore, using the same approach we can assume that Bitcoin will continue to trade within this channel, highlighting those two key Fibs on the current move, the -2.618 and -15, $237,346 and $1,035,805 respectively, as well as the previous high low -15 Fib at $317,790 as another point of interest
These two/three levels are potential tops, and important when deciding what you plan to do with your Bitcoin investments
This coincides with the fundamental landscape being set out by Trump, with his harsh tariffs on Canada, Mexico, Europe and China he is very likely going to cause bottleneck inflation. Combine this with the Federal Reserve lowering interest rates, the yield curve un-inverting, geopolitical risk and energy supply bottlenecks for the AI industry. I believe we are
about to see a substantial outflow of money from the stock market and into safer assets, classically Gold, but the evidence is clear that Bitcoin is becoming the very same.
Take a look at my S&P500 Short / end of bull run idea:
Trade active
Trade active and BTC breaks the 100k mark! Break 115k and things will get interesting
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