To do this we apply the trend-based Fib extension tool. Instead of the CD leg matching the AB leg, we apply the 127.2% Fibonacci ratio to the price distance in the AB leg, then subtract that from ...

Possibly as high as $4802. However, if the index breaks above $4802 on a daily closing basis, we will look for the index to reach the next Fib-extension target zone: 176.40% at $4838-83.

Fibonacci extension levels now indicate an ambitious $4 target, with trading volume returning to the market amid Bitcoin’s historic price highs.

As bitcoin (BTC) continues to trade flat in the $116,000-$120,000 range, the monthly chart shows $122,056 as key resistance that needs to be breached to confirm continuation of the bull run. That ...