ChartArt

Bitcoin price reached 1.618 Fibonacci extension of 2012 and 2015

BITSTAMP:BTCUSD   Bitcoin / Dolar
Mind blown: There are two ways in which the current Bitcoin             price could have been seen as a price target in the past:

  • $9.50 low on 2012-10-27 connected with $1163.00 high on 2013-11-30: Result $1875.86
  • $1163.00 high on 2013-11-30 connected with $152.40 low on 2015-01-14: Result $1787.55

Using the $152.40 low from 2015 and applying the 1.618 Fibonacci extension the target is $1787.55. And here it comes, when connecting the $9.50 low from 2012 with the high from 2013 the 1.618 Fibonacci extension target is $1875.86 ! Therefore the price has reached a very pivotal point this month.

Low from 2012
snapshot

High from 2013
snapshot

Low from 2015
snapshot

High in 2017 vs both 1.618 Fibonacci extensions from 2012 and 2015
snapshot


Currently the Bitcoin             price as traded on Bitstamp is at $1760 after declining from a high at $1892. There is a Bitcoin             ETF decision by the SEC on Monday (tomorrow). Because the outcome of this ETF decision to allow Wall Street to more easily invest into Bitcoin             is at this point a guess I publish this chart as neutral.
https://twitter.com/whalecalls/status/863581033048010752
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