BTC !!! Nearing the end in this bull run ! What to expect next ?
Looking at the short term :
BTC needs to clear the 0.702 retracement that lies at 49268usd for bullish continuation to the upside.
Previously BTC was rejected from the 0.702 (50.5k) retrace using the retracement rally (59.5k).
It needs to clear this level for further upside.
The next major resistance lies at 54k i.e 0.702 retracement using the top and bottom of the previous correction.
After this level is cleared ,there should likely be no major resistance above in clearing its previous ATH .
However 59.5k and 65k could pose resistance and stop its rally.
If all major retracement levels and the previous ATH get cleared,then BTC will likely peak around 72-85k region.
BTC has 2 factors supporting this price band :
->4.236 extension using the 2017 top and 2018 bottom extends to about 74k
->BTC's current structure mimics its November 2013 bull run ,with its top and bottom of previous cycle following that fractal and in that fractal ,BTC had a 50% correction before setting up the new ATH and current BTC's shows clear resemblance to that fractal.
#NFA
BTC needs to clear the 0.702 retracement that lies at 49268usd for bullish continuation to the upside.
Previously BTC was rejected from the 0.702 (50.5k) retrace using the retracement rally (59.5k).
It needs to clear this level for further upside.
The next major resistance lies at 54k i.e 0.702 retracement using the top and bottom of the previous correction.
After this level is cleared ,there should likely be no major resistance above in clearing its previous ATH .
However 59.5k and 65k could pose resistance and stop its rally.
If all major retracement levels and the previous ATH get cleared,then BTC will likely peak around 72-85k region.
BTC has 2 factors supporting this price band :
->4.236 extension using the 2017 top and 2018 bottom extends to about 74k
->BTC's current structure mimics its November 2013 bull run ,with its top and bottom of previous cycle following that fractal and in that fractal ,BTC had a 50% correction before setting up the new ATH and current BTC's shows clear resemblance to that fractal.
#NFA
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