This chart is an extension of my previous Fib extension chart that completed at $30,838 (no pun intended).
You can look at all the previous targets hit to a Tee called all the way back from before it broke the previous ATH price of just under $20,000.
I drew my Fib Extension from the bottom wick of the dump on March 15th, start of the bull run, all the way to the swing high $19600 (Nov. 23rd) with the support being drawn along the well-known $16000 support level I have drawn out.
Don't think this Fib can get anymore accurate, every level has hit to a Tee and backtested each and every one on the way up. I have not touched this Fib Extension since Thanksgiving and will not touch it now either, there's no point.
From here, BTC is not done soaring, with all the retail FOMO and the institutional investors buying up BTC this pump is nowhere even over. Honestly the party is just getting started.
On this most recent dump back down, BTC backtested the $27771 Fib level (0.786) to a Tee as well as $28377 and found a candle close above $30865. BTC didn't have a single candle close below $30k and that's why I think the pump continues.
I thought it'd take a little bit longer to reverse and accumulate around the $30-32k zone, but I guess the bulls are gonna pump it again beyond $34k. It's already.
Bitcoin has already regained the $33099 level of support created by the swing high on the 1hour TF as well as right now it's coming up (you can see it on a lower TF) to the $34,484 previous high price.
A close over $34,484 would send the BTC price to new highs, not stopping or pulling back until it hits the $39,696 level placed at the 1.618 Fib level.
This number is right around the $40,000 psychological mark and it's going to wick 40k, 100% no doubt. The retail FOMO at $40,000 is going to be insane.. it's already nuts at $30,000, I can't even imagine what it's going to be like when everyone and their mom is trying to buy BTC again to try and make money just like 2017. Market makers will have a field day with these n00bs and they will get rekt.
Everyone says don't offload your Bitcoins at $xx,xxx because institutions will buy that up like nothing and that's completely true, however, you can make a decent amount of money off a pullback on the way up.
I'm expecting BTC to sit in between the $33-34k range before popping off and it might take a little bit for it to gain momentum again to hit the $39k, I don't expect this to hit overnight. However, a candle close over $34,000 the previous ATH will create so much FOMO that it just might hit $40k pretty soon. I'll do my best to keep y'all updated! The best is yet to come!
You can look at all the previous targets hit to a Tee called all the way back from before it broke the previous ATH price of just under $20,000.
I drew my Fib Extension from the bottom wick of the dump on March 15th, start of the bull run, all the way to the swing high $19600 (Nov. 23rd) with the support being drawn along the well-known $16000 support level I have drawn out.
Don't think this Fib can get anymore accurate, every level has hit to a Tee and backtested each and every one on the way up. I have not touched this Fib Extension since Thanksgiving and will not touch it now either, there's no point.
From here, BTC is not done soaring, with all the retail FOMO and the institutional investors buying up BTC this pump is nowhere even over. Honestly the party is just getting started.
On this most recent dump back down, BTC backtested the $27771 Fib level (0.786) to a Tee as well as $28377 and found a candle close above $30865. BTC didn't have a single candle close below $30k and that's why I think the pump continues.
I thought it'd take a little bit longer to reverse and accumulate around the $30-32k zone, but I guess the bulls are gonna pump it again beyond $34k. It's already.
Bitcoin has already regained the $33099 level of support created by the swing high on the 1hour TF as well as right now it's coming up (you can see it on a lower TF) to the $34,484 previous high price.
A close over $34,484 would send the BTC price to new highs, not stopping or pulling back until it hits the $39,696 level placed at the 1.618 Fib level.
This number is right around the $40,000 psychological mark and it's going to wick 40k, 100% no doubt. The retail FOMO at $40,000 is going to be insane.. it's already nuts at $30,000, I can't even imagine what it's going to be like when everyone and their mom is trying to buy BTC again to try and make money just like 2017. Market makers will have a field day with these n00bs and they will get rekt.
Everyone says don't offload your Bitcoins at $xx,xxx because institutions will buy that up like nothing and that's completely true, however, you can make a decent amount of money off a pullback on the way up.
I'm expecting BTC to sit in between the $33-34k range before popping off and it might take a little bit for it to gain momentum again to hit the $39k, I don't expect this to hit overnight. However, a candle close over $34,000 the previous ATH will create so much FOMO that it just might hit $40k pretty soon. I'll do my best to keep y'all updated! The best is yet to come!
Comment:
BTC broke out and closed above the previous high at $34484, it's going to the moon aka $39,696
Trade closed: target reached:
BTC hit $39,696 to a Tee 🎯
