Assuming we are at the end of a wave 3, here's an idea of a scenario where we retrace now, and reach a modest 25-30k at the end of the year.
Alternatively, it would not be super surprising if Bitcoin instead rallied directly to 17-20k. From 20k, a .618 retrace would land us at 9.7k.
My current feeling is that this rally is a strong but short-lived one, due to the lack of media attention and hype that the Dec 2017 bull run had. I do not see an alt season coming just yet.
Credit to Cryptosomniac for partly inspiring me this idea.
Alternatively, it would not be super surprising if Bitcoin instead rallied directly to 17-20k. From 20k, a .618 retrace would land us at 9.7k.
My current feeling is that this rally is a strong but short-lived one, due to the lack of media attention and hype that the Dec 2017 bull run had. I do not see an alt season coming just yet.
Credit to Cryptosomniac for partly inspiring me this idea.
Note
EDIT: A less extreme retrace to 9.7k from here would also make sense. That would fit well into the trend lines.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.