Long Term Outlook for COINBASE:BTCUSD by mduchow — TradingView

This is my primary outlook for Bitcoin and what I would like to see over the next 6 – 12 months. Given the reaction that we have seen at $42,000 @ the 1.618 extension , I am expecting a mid term correction very similar to what we saw following the failed rally to $13k in the second half of 2019. Although, following the rule of alternation between the 2nd and 4th wave, I am expecting this correction to be slightly shorter in duration, as well as much shallower – a retracement of 38.2% – 61.8%.

Ideally, the previous ATH in the $20k – $18k region acts as strong support for Bitcoin , to facilitate the next leg higher.

In the short term, Bitcoin is targeting $28k – $26k.