Bitcoin Boom is over

yesterday

With its high of $108,470 on December 17, Bitcoin hit the 1.00 extension in the red Z almost exactly and has been trading below its all-time high ever since. I am relatively certain that this high is unlikely to be broken for quite some time and that the dollar will remain very strong for the foreseeable future. Other currency pairs such as the euro and the pound also point to this. If you look at the previous corrections in Bitcoin, a run-up to the 61.8 retracement or even the 78.6 retracement is a logical target. Prices between USD 23,670 and USD 41,870 should then be reached before the bulls take over again. However, this is of course only based on past experience and things could turn out very differently. The only certainty is that Bitcoin will first have to correct to the 23.6 retracement at USD 83,277 before further price rises are possible.