📈 Bitcoin Strength

This is my Bitcoin price target.

Bitcoin Ripping

Since the conclusion of the election, Bitcoin has been on a tear. We have broken out of a year-long base and are now at all-time highs.

Bitcoin Price Target

I want to show you how I arrive at a price target for Bitcoin. This method is applicable to any stock/index you want to set a target for that is breaking out of a base.

First, measure the % range of the base. Here, as you can see below, it is 34%.

Next, take that percent of base and apply it, using the top of the previous base as the starting point.

This will give you your price target.

In this case, you can see that we arrive at roughly $100,000. This is where I believe Bitcoin’s first stop is.

To be clear, we don’t know how long it will take for Bitcoin to reach this target, however this is the optimal way to measure the implied move when a stock breaks out of a base.

Watch this video for more details on the Bitcoin breakout, how I’m trading it, and other names I’m trading right now: