Hello everyone. This is a just a very simple humble calculation of what I think of the target for BTC/USD in the longer longer term. Well, in crypto timing, I guess it is probably about 1 years at most.
The calculation is based on simple Fibonacci numbers. I am assuming that the previous major top was a Wave 1 (19870) and the recent bottom (5873) is Wave 2. Assuming this Wave 2 (and indeed if this is even a wave 2) bottom holds, BTC/USD should be looking at a Wave 3 target of about 38000 (1.618x the value of Wave 1 top).
Posting this for educational purpose rather then a long term trading call as things can change/happen during this one year of crypto world timing.
The calculation is based on simple Fibonacci numbers. I am assuming that the previous major top was a Wave 1 (19870) and the recent bottom (5873) is Wave 2. Assuming this Wave 2 (and indeed if this is even a wave 2) bottom holds, BTC/USD should be looking at a Wave 3 target of about 38000 (1.618x the value of Wave 1 top).
Posting this for educational purpose rather then a long term trading call as things can change/happen during this one year of crypto world timing.