BITCOIN Can it reach $200k?

20 במאי

Bitcoin (BTCUSD) is on yet another green 1M (monthly) candle and if it closes that way it will be the 8th in the last 9, a natural Bull Cycle rally. This is taking place around the former All Time High (ATH) level for the 3rd month in a row.

A similar consolidation (blue circle) took place during each and every past Cycle and every time a very strong rally (green zone) started after it. Parallel to that, the 1M RSI printed a short-term pull-back. When the 1M MACD hit its Lower Highs Zone, it was time to start taking profits as the Cycle Top was priced.

Based on this past Cycles model, 200k is a very plausible Target that would even be much lower than the top of the Parabolic Channel.

So what do you think? Will BTC go that high during this Cycle? Feel free to let us know in the comments section below!

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