This is why I said Bitcoin can hit $39.4k if breakout from the inverted Head & Shoulders in a daily time frame.
Maybe there will be a little shakeout before the breakout as it's facing resistance with the trend line for a long time...
once it breakout BTC will move upward direction and that is close to $39400.
The longer the span means higher the impact. A longer resistance trendline means a higher impact on the price.
If you see the weekly time frame Bitcoin making higher highs and higher lows... which is a bullish sign for Bitcoin...
I have applied extended fib on it and all possible targets are in front of us.
The fib 1.618 target is the more likely to hit in the short time... as well as fib 2.618 can be hit as bitcoin is moving in the third wave of the Elliot wave.
You can compare Bitcoin weekly chart in this pattern. you will get the results.
