The bitcoin price cycles seem to follow a pattern of diminishing upside and increasing duration. So far each new cycle price peak has been predicted by the 2.382 fibonacci multiple of the cycle bottom price. Extrapolating this into the future raises the possibility of a blow-off top at ~250k perhaps around summer of 2022 — admittedly a formidable prediction given its implications for the market capitalization of bitcoin.
Nice chart. Can you share your fib. Channel? Thanks.
CryptoEngineering
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About 90–95% of the traders /investors CONSISTENTLY lose money on Crypto Market either in a bull or bear market. This is a well-known and publicized statistic.And it’s true!
libertybtc
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Thanks for the time you put into this and on twitter. I appreciate and enjoy learning from it.
GravityWave
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@junginit, you're welcome, thanks for the feedback!
DACapitalTrading
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Keep it up mate and leave us a comment as well, great work :) @GravityWave
DalimilBrodsky
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Wow !... this is the best chart I've ever seen. It's so simple now. THANK YOU... And please could you tell me how to plot these fibonacci lines in the charth? I have no idea how.. thanx
GravityWave
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@DalimilBrodsky, thanks for those kind words! I used the fib channel tool to draw the levels. The reason is that it measures the price relationships within a given move, as compared to the entire price range of the asset.