An additional short squeeze could take the price all the way to $8500, it is also a possibility that $7650 will be the top at the 1.618 fib line of the pitchfork. The 1.5 fib line of the pitchfork displayed above-provided resistance yesterday.
Any close above this pitchfork would invalidate it.
Either way, there will be a pullback from the highs.
I estimate a pullback from here would take it to $5100. This scenario would probably see bitcoin end the year between $12,000 and $10,000
If on the other hand, there is an additional short squeeze/FOMO pump to $8500, I estimate that support after the retrace would be found around $6450. In this scenario, the world will pile into bitcoin and drive it to $50,000 inside of 2019, and at least $100,000 in 2020. It would continue in 2020 because of the lower inflation rate from the Halvening.
If it finds the lows mentioned above before the end of May It would still be advisable to wait for confirmation.
Any close above this pitchfork would invalidate it.
Either way, there will be a pullback from the highs.
I estimate a pullback from here would take it to $5100. This scenario would probably see bitcoin end the year between $12,000 and $10,000
If on the other hand, there is an additional short squeeze/FOMO pump to $8500, I estimate that support after the retrace would be found around $6450. In this scenario, the world will pile into bitcoin and drive it to $50,000 inside of 2019, and at least $100,000 in 2020. It would continue in 2020 because of the lower inflation rate from the Halvening.
If it finds the lows mentioned above before the end of May It would still be advisable to wait for confirmation.
