Major Fib resistance zone
to last major low has played out as expected. A nice bottoming pattern has been put in and multiple fib targets have formed to the upside. With Gold
breaking out we should expect to see collateral effects to BTC
. Halving is quickly approaching, I suspect that we will start seeing an increase in uptrend, although the dynamics of halving have to take into account things such as miner set-aside amounts, etc. so the true effect of halving may not really be seen on price until such things have been exhausted. Ultimately I see no reason for demand to decline, in fact quite the opposite. BTC
has been a flight to safety much like gold
. Therefore I believe ATH
will be taken out this year, with price at least doubling in 2017.