Zooming out a bit and taking a look at the chart of bitcoin on the daily timeframe, we can see more data. The run in December at the end of the year had the correction in January down to $30,838 and reversed off of there to the new highs we're at now.
Bitcoin broke through all the levels of resistance on the way up and is now heading towards the 2.618 Fibo level placed at $54,028 for a TP. This level is going to wick and we're coming up on the moment of truth for Bitcoin to see if it continues climbing or rejects off of $54,000.
I think that the run is going to continue off of $54,000 and Bitcoin is going to climb all the way to the 3.618 Fibo level placed at $68,000.
Bitcoin broke through all the levels of resistance on the way up and is now heading towards the 2.618 Fibo level placed at $54,028 for a TP. This level is going to wick and we're coming up on the moment of truth for Bitcoin to see if it continues climbing or rejects off of $54,000.
I think that the run is going to continue off of $54,000 and Bitcoin is going to climb all the way to the 3.618 Fibo level placed at $68,000.
