Fibonacci channel might give us a good target for next BTC ATH

14 Mar

A Fibonacci channel, drawn from March 2010 to November 2022 shows that the levels have been upheld as key resistance and support levels. Now that we have surpassed the 2021 ATH, the next stop is the top of the channel around $78,000. Many are calling for six figure BTC and I think that is totally possible in the coming year or two. However, I think $78,000 may prove to be a strong resistance and we might see a more significant correction and consolidation before moving up to the 1.618 FIB level up in the $110,000 t0 $120,000 range. Beyond there, the 1.618 level takes us up in the $175,00 range which could be possible if money continues to flow into BTC ETF's.