Bitcoin looks to be playing within the very important golden pocket channel fib. I've circled in white, the areas where this pocket has determined the fate of bitcoin.
-In 2013 it was the All time High (ATH)
-In 2017 it provided support for bitcoin before it ran up to the ATH
-In 2018 it proved to be big resistance and bitcoin fell another 47% from the pocket
-In 2019 Bitcoin had the short rally up before eventually succumbing to the large Covid dump in 2020
-At the end of 2020, Bicoin broke through the pocket and created a new ATH in 2021
-From summer 2022 Bitcoin has tapped the golden pocket 3 more times and this is where we currently sit today, at the end of 2023.
Bitcoin is currently playing within the pocket at the upper ranges. The top side of this pocket sits around $45.5K. Bitcoin has already tapped the upper side of the pocket too.
With that said I still believe the next ATH for Bitcoin will occur in 2024-2025.
-In 2013 it was the All time High (ATH)
-In 2017 it provided support for bitcoin before it ran up to the ATH
-In 2018 it proved to be big resistance and bitcoin fell another 47% from the pocket
-In 2019 Bitcoin had the short rally up before eventually succumbing to the large Covid dump in 2020
-At the end of 2020, Bicoin broke through the pocket and created a new ATH in 2021
-From summer 2022 Bitcoin has tapped the golden pocket 3 more times and this is where we currently sit today, at the end of 2023.
Bitcoin is currently playing within the pocket at the upper ranges. The top side of this pocket sits around $45.5K. Bitcoin has already tapped the upper side of the pocket too.
With that said I still believe the next ATH for Bitcoin will occur in 2024-2025.