Has Bitcoin taken the first real step into the BullRun ?
So many thing to see here but lets keep it simple.
Back in late 2020, When PA first took a breath after pushing up for Months ( left circle), it retraced foe a while and then continued its push to the First New ATH.
That line of support, the lower Red Bar, acted a a strong line of resistance in this push up in 2023.
But we got through it and then broke through the line of the old ATH's, Green Bar.
And we are cureently retracing and testing that line as support, right circle.
And I cannot help but see a similarity between the two PA sequences , except the current PA .
This is just an observation
HOWEVER, if you look at the % Rise off that line of support in later 2020 to the 1st ATH, it was about a 85% rise
If we use that 85% rise on the current position of PA , we reach the much expected 100K and whats more, it is easily with in the Target Fib range.
And, this also leaves room for further Rises, maybe a Top up near the upper circle.
There are also chart that point towards a 2nd ATH in 2025 and that could be up pn the Trendline that comes off the previous ATH...and that price Range cold be easily over 500K
But it has to be said, Currently, there is NOTHING TO SUPPORT THAT
We will have to wait ands see how this plays out first.
the 100K ATH..YES..VERY LIKELY
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