After hitting a High of 8335, Bitcoin yesterday fell back under the 8K level. But last night it bounced back up and is now trading above 8K again.
Can we go even higher?
Let's compare the FOMO run of the last cycle with the current one.
8K image here: https://postimg.cc/QB4J17cw
What do we see?
In the previous cycle, Bitcoin came from the 300 Level, then made a cup-shaped move towards the 200 Level, and then soared, all the way up to the 500 level, at the higth of the Doji candle of August 2014.
With our Fibonacci tool, we can extrapolate the same move to the current situation.
And then we find out if this pattern were to repeat, we would end up at the higth of the Doji candle of January 2018 at 11.6K.
Let's wait and see.
--- closed my short with a small profit and start over again when the pattern and direction we are heading becomes more clear, at the moment Bitcoin seems to hang in some kind of limbo, not sure wether to move up further or to drop down ---