It might get there longer term (by that I mean a week or more). In the short term, there's a fairly strong support around $5.90 that'll need to be taken out.
Still, $5 is a real possibility. As I said in the video, based on the last pivot high hitting a perfect 0.618 in relation to the prior pivot high, some algos are absolutely targeting exactly $5 (well, $4.98 on Bitfinex, but who's keeping track). Whether or not it gets there is another story. This will be a real test for the bulls.
For now...$7.00. If that breaks decisively , we could see as low as $5.90. I see a path to $5.00, but a lot would have to go wrong. Yours?
I like it at $5.
It might get there longer term (by that I mean a week or more). In the short term, there's a fairly strong support around $5.90 that'll need to be taken out.
Still, $5 is a real possibility. As I said in the video, based on the last pivot high hitting a perfect 0.618 in relation to the prior pivot high, some algos are absolutely targeting exactly $5 (well, $4.98 on Bitfinex, but who's keeping track). Whether or not it gets there is another story. This will be a real test for the bulls.