Considering the next big upside target for bitcoin | FX Research

When considering trends, it's important to understand that markets tend to move in measured steps.

Looking at the Bitcoin chart, the $69,000 high reached in 2021, followed by the low in 2022, represented a move of $53,540.

Now that Bitcoin has broken out to a new record high in 2024, we project a measured move extension of the same size—$53,540—which points to an upside target now of $122,540.

Exclusive FX research from LMAX Group Market Strategist, Joel Kruger