$BTC came out in January 2023 at $15,000 and went straight up to $73,000 in March 2024, breaking the previous high.
So we had a 6-month flag formation and a 33% pullback.
So we took the height of this leg, copied it, and from the low of this correction, we would know the target that bitcoin would reach.
It reaches exactly $108,000.
From the low of $15,000 to $108,000, in these 2 years, BTC appreciated by 590%.
So it can easily come back this year, even in the range of $73,000, which would be the previous high, test this region, to gain momentum and rise again strongly, seeking new targets.
Even with this correction, we would still be in a macro uptrend.
So be careful.
On a daily basis, it may not seem like the market is stretched.
But when you look at larger charts, weekly and monthly, it's scary.
A little more attention, because the SP500 and American stock exchanges are also close to their highs.
So we had a 6-month flag formation and a 33% pullback.
So we took the height of this leg, copied it, and from the low of this correction, we would know the target that bitcoin would reach.
It reaches exactly $108,000.
From the low of $15,000 to $108,000, in these 2 years, BTC appreciated by 590%.
So it can easily come back this year, even in the range of $73,000, which would be the previous high, test this region, to gain momentum and rise again strongly, seeking new targets.
Even with this correction, we would still be in a macro uptrend.
So be careful.
On a daily basis, it may not seem like the market is stretched.
But when you look at larger charts, weekly and monthly, it's scary.
A little more attention, because the SP500 and American stock exchanges are also close to their highs.
