BNC:BLX   BraveNewCoin Liquid Index for Bitcoin

Just an idea but if you use long form Fibonacci sequence numbers as extensions of bitcoin's first cycle, you get interesting results. Each of those levels served as major levels of support/resistance .

Just look at that 2013 top and the 2018 ATH .

Each top takes successively longer to play out with diminishing gains in each cycle, and each cycle takes successively longer to reach a peak after each halving.

Using a trend-based fib extension, there has always been at least a 0.618 extension of the previous cycle.

Expecting this cycle to reach peak sometime late 2022 - early 2023 with a potential target of 133k.

Comments

with the DeFi craze going on, anything is believable..
+1 Reply
Absolutely agree. Lenghtening cycles, and diminishing returns, BIG FACTS.
Reply
nice chart can you show a daily
Reply
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