Bitcoin breaks downtrend -> $18,000 halving target alive?
A very simplistic view of the post I’ve done lately in which we had to hold the Golden Pocket Fibonacci level and that’s simply shown as support, again.
Going back to November ’15, this marked the bottom of the first parabolic movement as well.
Aside from that, the long-term trend is holding up nicely back again and the downtrend is broken to the upside.
Yes, short term price looks like we’re going to see some corrective movements (which is healthy), but given the halving and all the HTF’s starting to look better, I assume the halving will be a self-fulfilling prophecy once again.
Lower timeframes; we’ve reached 0.35-0.382 fibonacci level now and a significant resistance, assuming we’ll see some corrective movements to $8,250 wouldn’t be bad before continuation.
In that case, a target of 1.618 fibonacci level at $18,000 is a level I’m having as one of the main scenarios.
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