I've projected a possible scenario of Bitcoin's price movements into the year 2022 using Fibonacci extension and retracement on a log scale. Bear in mind, this is just my own personal idea. Do not bet the house on my conjecture and please do not construe this post as investment advice.
There are infinitely many ways to project price movements into the future. The aim of this post is to predict the direction of price. It's not really about timing. Although, I did my best to be realistic with respect to timing.
Your comments and constructive criticism is welcome.
There are infinitely many ways to project price movements into the future. The aim of this post is to predict the direction of price. It's not really about timing. Although, I did my best to be realistic with respect to timing.
Your comments and constructive criticism is welcome.
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A bullish scenario:
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Inverse head and shoulders formation on BTC & DGB charts:
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A bearish scenario for BTC & DGB if BTC hasn't finished its ABC correction:
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Head & Shoulders formation on DGB USD log chart:
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If this BTC idea plays out then the alts will get slaughtered:
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BTC buy zone based on Fibonacci levels: $4,384 - $1,819
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BTC bullish pennant scenario:
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@tammy007,
Thanks for your comment. Well, it wouldn't be impossible given the finite amount of BTC available in circulation. The supply is capped at 21 million. It is estimated that 4 million Bitcoins have been lost in cyber space. Most Bitcoins have already been mined. Therefore, if BTC can solve its key issues then you might see values that seem crazy or unrealistic.
Thanks for your comment. Well, it wouldn't be impossible given the finite amount of BTC available in circulation. The supply is capped at 21 million. It is estimated that 4 million Bitcoins have been lost in cyber space. Most Bitcoins have already been mined. Therefore, if BTC can solve its key issues then you might see values that seem crazy or unrealistic.
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Questions for your consideration regarding Bitcoin:
