BITCOIN 1-YEAR OVERVIEW

All the charts of financial assets, especially high time-frames, can be perfectly described by Fibonacci Retracement. This helps when we are trying to make long-term forecasts.

The whole 2022 was sacrificed to a 1-3 Elliott Waves correction from $50,000 to $16,000 (0 point by Fibo). The whole 2023 was just an accumulation phase.

📈 2024 is about a growth, but how high can Bitcoin go? It has already completed 1 and 2 waves of 1-5 Elliott Waves trend movement, the next one should send us to $90,000 which perfectly correlates with 0.786 level by Fibo.

At this point some consolidation usually takes place. It can also be seen on the chart.