Simple forecast based on the recent weekly bar pattern (target 130/140$)
There is room for another solid correction once we approach 25/30$ but...the summer will bring us an awesome target. stacking is not priced in :)
If this selloff is a really tricky bear trap, the reversal leg could reach 16k in a really fast upmove, Bloodbath for the weakhand, bloodbath for the margin trade addicted. Stay calm, look at the bigger picture.
As we see on this weekly chart, the Bitcoin price passed the 0.5 Fibonacci line. it was a strong resistance level, and now we re testing as support line. Next boost will be the upcoming LTC halving, if the past helps us understanding the future, when LTC halves...BTC jump upward. We will see some big moves in the near future.
We find an interesting correlation between the Fibonacci Time Zone overlay and the Halving date of LTC, pay attention to the price pattern, could be a really nice upside move in august.
Trade safe, stay green, be wise.