Short therm Bullish.
retracement to 12K
Around the 0.5 fib will be decided if we are in a correction (bull) or in a bear market.
Below the yellow line we can expect 3500 2800 1800 levels
for the Next bull targets we can expect 30 45 levels
When all the elements come together!
I am not sure if bitcoin will continue but I want to share this long term perspective with you all.
In 2011 it took BTC 2.5 years to grow 3.800% from its all time high of 30 to 1.200
in 1013 it took BTC 5.0 years to grow 1.600% from its all time high of 1.200 to 20.000
50.000 would mean a 3.800% from 1.200
Even if bitcoin dips I foresee a quick recovery and a ^*&^#@ load of resistance around 11K
Many are waiting and hoping for bitcoin to drop because they missed the boat which will buy at levels like 11K
The question is if it will drop.....
I think that without to much negative news, Bitcoin will be at 35K before the end of February.
I have seen many doom comparisons over the last weeks that THE BUBBLE will collapse
Here is one that proofs differently.
I don't have a glass bowl neither does history always repeats itself but I just don't see technically why we would see why we would see 2000 1800 1200 any time soon ;)
PLEASE COMPARE WITH THE GRAPH BELOW (previous bubble that ended with an...