seanalannixon

Bitcoin To $16,500

Long
BITSTAMP:BTCUSD   Bitcoin
This is a simple idea that from the bottom of each rally is doubled every pump. The first pump was 34% second pump was 62% and looking at the RSI bitcoin is getting ready to pump again. If this is correct and the pump doubles again this would be apprx 120% or 16,500 or the .786 retracement from 20K to 3,100. While I do think this is simplified to the animal bitcoin is.... the leg up is between 13,000-16,500. But, I also do not see much resistance above 11,800 and ATH. Either way the RSI continues to climb and as of now the charts look like it is a ticking time bomb for another leg up within the next week.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.