{"id":451132,"date":"2020-11-30T20:00:22","date_gmt":"2020-11-30T20:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=451132"},"modified":"2024-06-11T14:08:52","modified_gmt":"2024-06-11T14:08:52","slug":"bitcoin-targets-25000-fib-level-with-new-all-time-high-set","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-targets-25000-fib-level-with-new-all-time-high-set\/","title":{"rendered":"Bitcoin Targets $25,000 Fib Level With New All-Time High Set"},"content":{"rendered":"
Today, Bitcoin price set a new all-time high record<\/a>. While that statement certainly speaks for itself, it does beg the question: what comes next?<\/p>\n Given the fact that this hurdle was the one the entire investor class was watching, and it is now out of the way, the most logical next target could be $25,000. Here’s why this number is significant and why there’s a strong probability that price heads there next.<\/p>\n For nearly three full years, crypto investors have been waiting for this day and wondering if it would even happen. Holding Bitcoin has been a rocky ride<\/a> for those that got in at the peak of the last bubble.<\/p>\n After the cryptocurrency tapped the current level, it fell to $3,000 a year later. A revisit back to that key level earlier in the year sealed the deal on a new uptrend and canned any chances of the cryptocurrency dropping lower.<\/p>\n Related Reading | Here\u2019s What Will Happen To Altcoins Once Bitcoin Breaks $20,000<\/a><\/strong><\/em><\/p>\n From that bounce caused a sharp uptrend and now \u2013 as of today \u2013 Bitcoin price has set a new record<\/a>.<\/p>\n The leading cryptocurrency by market cap is now below the previous high, but a spike higher today set a new all-time high record. The feat is likely to make waves across the finance space, and lure in another wave of investors, until the asset peaks and does it all again.<\/p>\n But before the bull market truly takes off, the next logical level, according to one crypto analyst<\/a>, is right below $25,000 at $24,800.<\/p>\n <\/p>\n The 1.272 Fibonacci extension is the next logical target for Bitcoin price | Source: BTCUSD on TradingView.com<\/a><\/p>\n According to crypto analyst Jamie Holmes<\/a>, the next target resides at the 1.272 Fibonacci extension level. Beyond there, 1.618, 2.618, and 3.618 sit at $30,000, $50,000, and roughly $75,000 respectively, and could be next after the first extension is taken out.<\/p>\n Holmes accurately called for the retest of ATH after a “bullish saucer” formed on monthly timeframes. Now he’s pointing to $25,000 next.<\/p>\n During the last bull market, Bitcoin rose as high as the 19.618 Fibonacci level,<\/a> which could suggest that these early extensions will be barely a blink for the now unstoppable cryptocurrency.<\/p>\nAll-Time High Broken, Bitcoin Price To Return To Price Discovery Mode<\/h2>\n
Why Cryptocurrencies And Other Assets Respond To Fibonacci Levels<\/h2>\n