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100ksoon

BTC possible 100k? Based on the historical significance of certain levels for Bitcoin (BTC), if the current level is broken, the closest new high for BTC is likely to reach 100k. This prediction is based on the fundamental background and previous bull runs, where applying the Fibonacci retracement levels highlights key levels that align with the new ones. For example: Bull run in 2017, Level 1.618(2017) -> 0.618 ( 2020) -> 0.382 (2022-2023) Bull run in 2021, level 1.618(2021) -> 1(2022)
Long
by PavlOK
2
Bitcoin Likely to hit 77k SoonBased on the Elliott Wave analysis, Bitcoin’s (BTC) rally from the June low of $28,600 to the current all-time high of $67,016 can be labeled as a zig-zag pattern. According to EW, the zig-zag pattern is formed by 3 waves A-B-C, which can be subdivided as follow: 1. Wave A is a 5 wave price formation. 2. Wave B is a corrective ABC price formation. 3. Wave C is a 5 wave price formation. The rally from the $28,600 low to the intermediary swing high of $52,956 has developed in a 5 wave price formation. The pullback from the $52,956 high was corrective in nature and was an ABC price structure. The second rally from the swing low of $39,573 to the current all-time high of $67,016 can be broken down into a 5 wave formation. Elliott Waves In the Elliott Wave theory, wave C of a zig-zag pattern targets the 1 and 1.272 Fibonacci extensions of wave A and wave B combined. In this case, the 100% extension falls at $62,996 respectively the 1.272 extension falls at 69,367. The minimum Fibonacci ratio requirement is satisfied, and wave C can be called completed. Moving forward: We can expect to see a pullback in 3 waves before the bullish cycle can resume again. The considerable psychological number of $55,000 and $50,000 will likely act as support. From there, we will probably see a bounce back up and a new all-time high soon after (at least $77,500).
BITSTAMP:BTCUSDLong
by cryptohopper