Fibonacci's Bitcoin Forecast 2013-2021

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

Rallies and dips charted with Fibonacci retracement tool to show potential future price levels.

Fib retracements have accurately forecasted at the 0.618 fib level for price dips since March 2018. New rallies top at the 4.236 fib level, where a new retracement is then charted to forecast a new price level.

Alternating line colors (green, pink) show forecasted price levels since the 2013 rally.

As of 9/21, BTC price is en-route to next forecasted price level of $6,900 USD.

Assuming a continuation of the long term downtrend of 2018, price will dip from $6,900,. We can then forecast the new following rally/dip levels.

Red downtrend line expected to break between October - November 2018. A price break above red trend line will indicate start of new bull market, leading prices to the forecasted new highs.

Price levels for next major rally lie at $11,347, $16,061, $31,275, $64,582.

Assuming BTC continues to respect the Fibonacci forecast, and that the downtrend is broken in 2018, the forecasted prices leading to $64,582 will be reached by 2021.

(In a few instances, a Fib retracement does not line up accurately with other projected forecasts, but matches if the level is retraced to a closing price rather than the wick, or vice versa. Difference in price between markets is the main cause of the difference in certain forecasts. Certain markets may match the forecasts more accurately than others.)

If we break above the downtrend in the next week, we should see ~$7,400, and possibly not another retest of previous lows. I would prefer we go back down over the next week or two before attempting another climb up. This would give the market more strength, and to be less likely of failing at the resistance line.

The lowest I expect to see if we do go down from here is $3,800. And since I expect that, it will probably be even lower.

Violent price action ahead :)
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