This is my primary outlook for Bitcoin and what I would like to see over the next 6 - 12 months. Given the reaction that we have seen at $42,000 @ the 1.618 extension, I am expecting a mid term correction very similar to what we saw following the failed rally to $13k in the second half of 2019. Although, following the rule of alternation between the 2nd and 4th wave, I am expecting this correction to be slightly shorter in duration, as well as much shallower - a retracement of 38.2% - 61.8%.
Ideally, the previous ATH in the $20k - $18k region acts as strong support for Bitcoin, to facilitate the next leg higher.
In the short term, Bitcoin is targeting $28k - $26k.
Ideally, the previous ATH in the $20k - $18k region acts as strong support for Bitcoin, to facilitate the next leg higher.
In the short term, Bitcoin is targeting $28k - $26k.
