Bitcoin (BTCUSD) near term high likely in
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A series of Fibonacci extensions show a cluster of key 161.8% and 61.8% levels all converging around the 54k to 55k value area. Consider that the Gann Death cycle of 49 bars is right where the next weekly candle opens as well as this time period being an anniversary period of important highs and lows found for Bitcoin, we should anticipate a likely top here for Bitcoin with a likely retracement to the 28k value area over the next 45-90 days.
Nota
The target area was hit within the forecasted date range. I still see a move lower to the 24k -
27K zone before another move up.
Penafian
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