This is a bold call... in terms of the timeframe not in terms of the price - cause I am pretty confident Bitcoin will eventually reach and go well beyond it's ATH establish in Dec'17.
Technical perspective:
We still are in a 2 year price consolidation triangle. Inside it we are about to complete the 5th Elliot Wave - after that we will be ready for a strong breakout.
This formation is confirmed by the way volume is shaped. The strong bullish impulse that formed the triangle high was supported by a great volume, on the other hand, during the retracement and consolidation period volume has been falling steadily.
The first Fibonacci extension (1.13) from the last ATH is around 22 500 $ (orange dotted line). This converges with the triangle height if the triagle breakout should occur in Jun/Jul'20.
Let's bear in mind that in mid May we will experience a long awaited Bitcoin halving which will reduce the Bitcoin supply by 50%! overnight!
Gl & Hf ;)
Technical perspective:
We still are in a 2 year price consolidation triangle. Inside it we are about to complete the 5th Elliot Wave - after that we will be ready for a strong breakout.
This formation is confirmed by the way volume is shaped. The strong bullish impulse that formed the triangle high was supported by a great volume, on the other hand, during the retracement and consolidation period volume has been falling steadily.
The first Fibonacci extension (1.13) from the last ATH is around 22 500 $ (orange dotted line). This converges with the triangle height if the triagle breakout should occur in Jun/Jul'20.
Let's bear in mind that in mid May we will experience a long awaited Bitcoin halving which will reduce the Bitcoin supply by 50%! overnight!
Gl & Hf ;)
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GREAT SUCCESS! :D
