It seems like just yesterday BTC reached our last upside target range at 29,890-30,108. Actually, it was Monday [see: Jan 4 Update on Bitcoin.]

If it can hold these Fibs, the next major Fib target to the upside is the blue 2.24 and red 3.618 at 40,180-40,138.

Go figure.

continued for members…You know the drill. It’s very overbought – more so than any time since Apr 2019 when it sold for 5,300.Yet, if it can hold 40,180… …the next upside target is 46,337-46,433 – the blue 2.618 and red 4.236.  At this rate, it’ll be there by sunrise.

If it can’t hold 40,180, then we could look for a backtest of the 1.618 around 30,000 or even the 1.272 at 24,165, ideally in late Sep 2021. It would first have to drop back through the pink channel top, currently at 31,333.

Though the backtests it has exhibited so far have been far short of that and have been lightning fast.  The one on Jan 2 ranged 4,283 (12.8%) from top to bottom and took place in less than a day!

GLTA.