BTCUSD Why is 66671 usd the target price? Many people ask me this question on various social networking sites. The answer can be seen from the analysis. The current price movement is a fractal copy. Its character is clearly exponential. I would like to draw your attention to an important feature. This is the size of the correction wave structure shown in the red square. It can be seen that the structure of the exponential fractal correction wave (red square) currently under construction is exactly double the structure of the initial fractal correction wave. Why? Because the "ATR below them" is also double. This dual growth structure is constantly accompanying the current movement. The analysis also shows that at 40,000 usd, a wave structure closes within the fractal. This in turn increases the chances of correction. In the event that the price movement of bitcoin rises above USD 41-42000, the probability of a correction will suddenly decrease. It is not recommended to take a short position on an exponential rise at correction levels. Because when a larger investor enters due to a higher volatility jump, STOP orders can only be executed late.
what sort of % pullback do you think we will see on the way?
meszaros
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@quantumwoooo, I can't tell you yet. We should wait at which level the correction will be made. It can then be calculated more accurately.
quantumwoooo
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@meszaros, No I meant generally. pullbacks at the moment seems to be averaging 8% down on the way up. Do you think volatility will increase as the price goes up?
Karzon
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Is it possible to fulfill target??
meszaros
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@Karzon, Yes. The target prices in the analysis are calculated using mathematical methods. I can state that these target prices are based on fair value.
Shegslove
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The new target price is very close to achieve since bitcoin increases everyday...