Premise for this projection is the replication of the 2013/2014 fractal and following the fibs:
What we saw in 2019 was actually a harsh rejection from the 0.702 fib level which resulted in a retracement down to the 0 level ($3850). Getting back up ever since BTC is now facing again the 0.702 level with a rejection yet again (in April). BUT, so far the rejection was only a soft one down to the 0.618 level ($47k). If it's correcting down further to the $42k or even $38k level it's still really bullish since it's still above the 0.5 fib level. So if we stay bullish we will really quickly see a $250k blow off top, followed by a retracement to $130k (0.618) and a few months of consolidation before going parabolic again capped by the 1.618 fib extension ($2.5m: new blow-off top)
What we saw in 2019 was actually a harsh rejection from the 0.702 fib level which resulted in a retracement down to the 0 level ($3850). Getting back up ever since BTC is now facing again the 0.702 level with a rejection yet again (in April). BUT, so far the rejection was only a soft one down to the 0.618 level ($47k). If it's correcting down further to the $42k or even $38k level it's still really bullish since it's still above the 0.5 fib level. So if we stay bullish we will really quickly see a $250k blow off top, followed by a retracement to $130k (0.618) and a few months of consolidation before going parabolic again capped by the 1.618 fib extension ($2.5m: new blow-off top)