Hello,
Its been a while.
Imagine for a second that we are nearing the blow off top, I'm looking out for where we might ultimately form a new baseline (background)
I'm going to say ~$3700 looks good
As you all know, this run up started around $200
$200 to $3700 is $3500 increase. If we do a fib retrace of 78.6%, working the math we end up with that $3500 representing 12.4% of the overall expected gain before it corrects. That gives 3500/0.124 => $16300 gain.
$16,300 + starting point of $200 = $16,500
Its been a while.
Imagine for a second that we are nearing the blow off top, I'm looking out for where we might ultimately form a new baseline (background)
I'm going to say ~$3700 looks good
As you all know, this run up started around $200
$200 to $3700 is $3500 increase. If we do a fib retrace of 78.6%, working the math we end up with that $3500 representing 12.4% of the overall expected gain before it corrects. That gives 3500/0.124 => $16300 gain.
$16,300 + starting point of $200 = $16,500
Hasn't it already hit more than that? Probably topped it by $1000 or more on Bithumb, but even US exchanges have hit this pretty sure.
Your predictions could well come true and we see BTC top out at somewhere around that region. At the same time we may see a lot more rallies happening and this is only the beginning of these future rallies. Honestly, it's quite early to tell.
Personally i'm leaning towards another ATH soon, no offense to your analysis but i think the markets are just way too bullish for this current ATH to last for long.