Projections are based on a comparative analysis of the price and RSI. In my opinion, these are the 3 most likely projections. I'm going to publish weekly and daily charts to dial this in.
You're looking at the 3 month chart. The retracement was taken from the top of the roaring 20's to the bottom of the depression. Nearly 40 years later, the 1970s and it happens to move between the 1.272 and 1.414. You can find more examples of on smaller time tables. Curious.
Gold has seen a great year, but good things cannot last forever. However, things are looking bullish in the long term.
Long story short, we're bullish, but the trend is running out of gas. When considering other metrics in the American and world economy, this argument for the bears is pretty scary.
2013/2014 Bear market. Reverse retrace. 1.618 = 18k est. Roughly peak of 2017 bull market. 1500 Days between peaks. x2 = 3000 :-) 2016/2017 Bull market. Retrace. 1.618 = 300k est. Next Target. 2500 Days between peaks. x2 = 5000 :-) Growth reduction of growth rate proportional to size. 1.272-1.41 74k-116k. The mania phase could overshoot.
Look and the chart and think about life....or whatever. :-P
Well guys, it's all or nothing. If Bitcoin cannot find a bottom during this dip, it's all over. Many guys are talking about Targets at $8500, $7400...and anything in between. The Log chart is the truth! And the truth is Bitcoin could drop A LOT further than any of you realize. Why? How do we know this is even a bull market. How do we know it isn't an impulse rally...
Bitcoin is going to the moon. It's all here. Just look bro
This is how I see it playing out. We already know the price is at the whim of whales. 6k, 3k, 5k, 2k. I mean...why not? Mind the channels, pick your spots, be safe out there.
Take profits above $90. Stop loss at $70. Good luck
Bitcoin reaches out like a tree branch. Climbing the log chart as it emerges as a new technology. As the market cap increases, it takes more and more capital to move the price. Notice the arch in the log chart representing an overall decrease in volatility over the long term as the price increases. My projections are based on trend lines and fibonacci...