Bitcoin Target

The rally that started with the major Gann timing on 3/13/20 continues on. The first setback on 3/30/20 held 38.2% of the move keeping the trend intact as the "38.2% rule" implies and the new highs followed. They are now approaching the first target area since the low, this is 7600 to 7700, the first is a major Gann square and the second is 38.2% back to the 6/26/19 high. This is the area that can send them back to test, or even make new lows. As always on a move down from this area we will watch 38.2% of that high, if they can only go back 38.2% after hitting a major retracement above it will be a very positive sign and you can then look for 61.8% of the 6/26/19 high at 10,050, this will also be the target on a solid close above 7700. One other level above to watch for resistance is the 200 day average that is at 8820. The current short term swing point is 6160.