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October 3, 2022
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Guide & Analysis

How far does this Bitcoin rise go?

Another ATH. What is Bitcoin’s next target?

Bitcoin breaches an LTB that can be considered a bullish flag to soon cross the previous historic bullish zone by nailing a new ATH. And now?

The move came after Tesla announced that it invested $ 1.5 billion in Bitcoin (more than 8 billion reais) and that it planned to allocate more cash reserves to Bitcoin and in due course started to accept cryptocurrency as a way of paying for its products in the future.

The event triggers a buying trigger for all enthusiasts in the crypto and technological world in relation to Tesla.

And graphically, what is Bitcoin’s next target?

On the (daily) chart, the Bitcoin price breaks the resistance of the previous high by almost $ 42 thousand and begins a movement where we no longer have a reference history.

Therefore, we made a fibonacci projection from the point of rise around $ 17,000. Breaking the bullish flag, a 100% projection of the masthers would be in $ 54,036.00. This is the new target of the BTC.

For the more optimistic, a projection of 161.8% in fibo is equivalent to $ 69,924.00.
But Satoshi’s wonder tends to kill one lion at a time.

For the arrears, at that moment the price is stretched. To enter it would be prudent to wait for some correction to get a pullback – but in times of ATH with mars fuel – there are not always other opportunities.

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