The Bitcoin accumulation process taking place since February 2018. Since then price has been forming a falling wedge pattern, which seems to have come to an end.
The new Fibonacci cycle has just started, prior to which price broke above the downtrend trendline, indicating on the BTC uptrend validity. But still, the 6k plays an important role in the further price development and if BTC stays above that level, price is likely to start moving higher.
According to the next Fibonacci Time Zone indicator the next cycle will start in January 2019. Potentially, this could be the time when Bitcoin will reach the new all-time high.
The resistance is seen at 161.8% Fibonacci retracement level, which is near the 30k level. But price could go even higher, reaching 35k before the end of January 2019.
The new Fibonacci cycle has just started, prior to which price broke above the downtrend trendline, indicating on the BTC uptrend validity. But still, the 6k plays an important role in the further price development and if BTC stays above that level, price is likely to start moving higher.
According to the next Fibonacci Time Zone indicator the next cycle will start in January 2019. Potentially, this could be the time when Bitcoin will reach the new all-time high.
The resistance is seen at 161.8% Fibonacci retracement level, which is near the 30k level. But price could go even higher, reaching 35k before the end of January 2019.
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