How far can #Bitcoin's price rise?
As I mentioned in the analysis below, when #Bitcoin was around the price of $66,500, I observed a bullish flag pattern in the weekly timeframe on the #Bitcoin chart. We have now seen that Bitcoin has managed to reach $98,000 as of tonight.
Now the question is: how far will this #Bitcoin price growth continue?
As you can see, #Bitcoin has managed to grow equal to the depth of the cup. I anticipate a slight correction in this area (around $98,500), after which the price of this cryptocurrency may continue to rise to approximately $114,000, reaching the golden ratio of Fibonacci projection (1.68 level of the cup's depth).
This is merely an analysis based on Fibonacci teachings and chart patterns and should not be the basis for your decision to buy or sell this cryptocurrency. The final decision should be made at your own discretion and responsibility.
I hope you enjoy profitable days in the market.
Now the question is: how far will this #Bitcoin price growth continue?
As you can see, #Bitcoin has managed to grow equal to the depth of the cup. I anticipate a slight correction in this area (around $98,500), after which the price of this cryptocurrency may continue to rise to approximately $114,000, reaching the golden ratio of Fibonacci projection (1.68 level of the cup's depth).
This is merely an analysis based on Fibonacci teachings and chart patterns and should not be the basis for your decision to buy or sell this cryptocurrency. The final decision should be made at your own discretion and responsibility.
I hope you enjoy profitable days in the market.
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