Bitcoin: Could It Really Reach $250,000 Level?
Chris Kimble | Oct 18, 2021 11:01AM ET
Can anything stop Bitcoin’s rising tide? We may know soon.
Bitcoin’s recent run-up to over $60,000 is testing its 2020 highs and a key Fibonacci price resistance level. This area looks to be an important time/price juncture. Let’s dig in.
Today’s chart is a weekly chart for Bitcoin, highlighting the strong up-trend in place. As you can see, Bitcoin remains inside a five-year rising channel marked by each (1). And the recent rally has this popular crypto testing its 3.618% Fibonacci extension level as well as last year’s highs at (2).
Bitcoin Breakout Coming Next?/h2
If Bitcoin can break out to new highs at (3), it could go much higher. Perhaps the next channel resistance, which comes into play around the $250,000 level! Stay tuned!
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