Economist James Ford, leading the investment company The Pragmatic Investor, responded to the question of at what price it is worth selling bitcoins to lock in profits. Ford noted that the so-called golden ratio, representing the Fibonacci expansion level of 1.618 from the previous price maximum, is at the mark of $102,000. At the same time, the bullish trend line, drawn through the last two peaks of the BTC price, should intersect with the golden ratio within the next two to three months. Accordingly, the price of the cryptocurrency will rise to $102,000 no later than mid-February. To maximize profits and reduce risks, James advises selling: 50% of bitcoins when the price of the coin reaches $102,000 (1.618 Fibonacci level); 30% BTC at a price of around $109,500 (the mark at which the bullish trend line will pass, playing the role of a resistance barrier); the remaining 20% of coins when their value exceeds $122,749.
Ford believes that the bitcoin market will experience a significant correction after the price of the coin reaches the 1.236 Fibonacci level, which is located at the mark of $89,000. Bulls have already failed to consolidate above this barrier twice, so James's forecast may turn out to be correct. In this case, bitcoin will drop to $82,002 before the resumption of the bullish rally.
