Bitcoin’s Next Stop: $14,000 Or $37,200

Our Advanced Fibonacci Price Amplitude Arcs from the March 2020 lows shows a very clear DARK PURPLE (3.618) Fibonacci Price Amplitude Arc that has arced across the recent peak in prices.It is our belief that this level will continue to act as major resistance going forward. The way we interpret these Fibonacci Price Amplitude Arcs is to see how price reacts in the current and past related to these price energy fields. If price prompts a major change in trend near these levels, then they may have greater relevance/importance in how price trend resolves near these levels.


The following Weekly Bitcoin chart highlights the same Blow-Off top setup on a longer-term scale.The divergence between the June 2019 peak and the current peak in price is very clear.Any further downside price rotation following our drawn YELLOW line on this chart would likely setup the sideways FLAG price setup – indicating phases I and II have setup near this potential Blow-Off Top formation.This suggests that phases III through V are pending.

Follow the YELLOW lines on this chart to see what we believe may be a future Blow-Off peak price trend in the future. Remember, this is all contingent on the pattern continuing to play out as we believe will happen in the future. If this pattern breaks down and fails, then we’ll begin to look at other technical setups that may form for Bitcoin.

Currently, a massive RISK ON phase has taken place in the global markets. Prior to the November US elections, many traders/investors were sitting on their capital waiting for clarity regarding the outcome. Just before the election, you can see that Bitcoin began to rally from near $10,000 to above $13,000.Then, as the RISK ON trades piled into the trend, it rallied even further to levels above $19,000 – just like what happened back in 2017.

In fact, the rally in Bitcoin started in October 2017 and really broke out in November 2017.Once Bitcoin started rallying $4k to $5k per week back in 2017, this represented an “exhaustion rally phase” that ended quite quickly.Currently, Bitcoin is rallying $2,500 to $3,500 per week and we believe it is very close to completing the start of a Blow-Off Top setup for a dramatic drop.

View single page >> |

Disclosure: If you want to know where the market is headed each day and week, well in advance then be sure to join my Pre-Market Video Forecasting service which is  more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.