This here is my price target for Bitcoin in 2021, based on previous cycles, using Trend-based Fib extensions.
- Fib ext. cycle = starts at lowest point in previous correction -> ATH -> lowest in current correction.
Every time we came close or at the 0.786 Extension. This time, the 0.786 is at ~$130,000.
RSI also playing an important role: each time, we had this "M" pattern at the 96 level on the monthly chart. I guess it won't be different this time.
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Thanks for reading and safe trading!ā
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