Points #1 $4.28 - $16.20 total run 287% #2 $7.14 - $257.98 total run 3,461% #3 45.05 - $1,191.05 total run 694% #4 $465.28 - $2,980.00 total run 531% #5 $1,824.39 - $19,456.64 total run 942%
Point #6
We tested a new recent low however brief at $7,617.47. Will this be the beginning of the run for point #6? I believe that the price will stay above $7,000 with several things up and coming in the month of February to restart Bitcoin -9.06% . Mark Feb. 19th on your calendars. This maybe the return of some of the stock markets equity as they seek to find a new place to achieve their expected returns. In each of the following points the FIB RETRACEMENT was between 68% to 80%. Looking to the chart if history repeats itself and the chart replicates its former patterns then we should roughly see a correction to the areas between 65%($7,617.47) to 80%($5,000). Either way I feel the historical trend and tested support structures will hold the coin in this area. If the coin then goes to 661%($113,233.12) we will complete point #6 . The time frame before was about 700 days on the bull run, with 2.5 years of consolidation. I feel that we could see this high in 2018. Just over 500 days into the 3 legs of this run that would put it 200 to 300 days out to hit $113,000!!
In short we definitely could see $5,200 in the next few weeks as we look for the bottom in this correction on our way to $113,000. However I feel that we will not go below $7,300. If the current correction completes it current structure to 100% this is very possible, however often times in the market patterns, fractals, retracements, etc do not reach their 100% potential as worldly factors and market sentiment control its movement as well. When the overall market sees we've hit bottom then we will head to $113,000. Note this will not be a straight shot just as the run from $4.28 to $19,456.64 was not.
This is a long term HODL perspective and not financial advice. With investing there are always risks. Do your own research and risk only what you can loose.
評論
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Sorry the chart is a little congested just trying to highlight the major points.
can i ask, why 661%? what the calculation for that number?
vthokiee97
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@knoblybits, 661% FIB Extension based on the Retracement of Leg #5. Leg #3 moved around 694% from the Retracement of leg#2. Assuming that the Bull run follows a similar chart replication then the FIB targets would be a good standard to asses the possible peak of the Bull Run. Obviously with a multitude of probabilities and variables including the Human factor this target may not be reached or it may even be surpassed. A more finite number can be assessed as we see the further development of this chart.