BTCUSD PRICE PREDICTION OF $70k FOLLOWING MAY 2020 HALVING
Some confluences are showing up in my macro TA of BTC/USD that I thought I would share.
Based on the ratio of percent increases from previous BTC halvings to the following ATH's within that halving period I have ascertained a target of $70-72k/BTC.
I have aligned Fibonacci levels to the target which shows confluence with previous price history being respected.
I have assessed the ~85% bear market retrace from the target which also shows confluence with the recent June 2019 high zone of $13-14k flipping from resistance to support.
I have looked at the number of months from previous BTC halvings to the following ATH's in that BTC halving period and applied that basis as an estimate of time for the target of $70-72k to be hit, 1st BTC halving 12 months, 2nd BTC halving 18 months and for this BTC halving 24 months giving a date of May 2022 for this target to be reached.
Enjoy the read.
Based on the ratio of percent increases from previous BTC halvings to the following ATH's within that halving period I have ascertained a target of $70-72k/BTC.
I have aligned Fibonacci levels to the target which shows confluence with previous price history being respected.
I have assessed the ~85% bear market retrace from the target which also shows confluence with the recent June 2019 high zone of $13-14k flipping from resistance to support.
I have looked at the number of months from previous BTC halvings to the following ATH's in that BTC halving period and applied that basis as an estimate of time for the target of $70-72k to be hit, 1st BTC halving 12 months, 2nd BTC halving 18 months and for this BTC halving 24 months giving a date of May 2022 for this target to be reached.
Enjoy the read.