Bitcoin has experienced a revaluation of more than 200% in the last three months, which makes it one of the assets or values with the highest increase so far this year.
If we look at the following graph we can see how the price of the BITCOIN is more or less following an established pattern.
Everything caters to mathematics and all because it is increasingly difficult to move the volume. It can not be considered as a stock market value because the shares are usually in 4 or 5 hands. Bitcoin is increasingly distributed, although there is a very high number of bitcoins in less than 100 hands I would say 75% but it is difficult to say this. If we go to the quote is seen as in April broke the bearish line that had been ending this bearish cycle and giving way to a new cycle. In my previous analysis shown below, I did not rule out dropping to $ 1,800, but finally started bouncing at $ 3,000 and would not start the cycle until the long-term bearish beat. That's where it lies where to play with the BTC. It is preferable to average higher than average lower. A good sale of purchase has been $ 7,000. But few have had time to buy at these prices.
Right now we are between 31.8 and 0.5 fibonacci in logarithmic scale because it is in this scale where BTC should be analyzed. He has come to touch them at $ 14,000 and has come back down to look for the support line. It is now in the $ 9500 and rising. For the bullish cycle to end, it should fall below the EMA of 20 periods in weekly. Which is the only time he lost it when the bearish cycle began. This line is slightly lower than $ 9000.
Therefore according to fibonacci brand should continue to rise at least up to $ 65,000 (100% fibo). I think that this will be the point where it will go down but I'm still wrong and reaches the $ 120,000 ceiling that is correlated with the previous maximum. The most extreme case of rise would be over $ 300,000 which I think will not happen this time. Many people will leave much sooner, but it is expected. In 1 year we will leave doubts. This time the volumes uploaded are much higher than before as shown in the graph.
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