With bitcoin's "survival" of the pivotal 88.6% Harmonic level we are setup for a run to a 70.7% retrace from the all time low(listed here at least) of 344.28.
Utilizing GANN fan and Fibonacci Time zone i see a maximum pump target for 2016 of 587.51.
Now of course every step needs to be breached along the way and if we fail at even getting to $344.28, we will simply dead cat bounce for much longer.
TLDR is that Bitcoin needs to make it back to the 300's to reach it's point of much needed trading equilibrium.
Comments
cryptopicasso
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nice analysis Ant - feel the same way - this wave needs to run us well into the 300's to retrace above the previous wave high of 315-320