Focusing on the Fib wedge here, it can be seen that each Fibonacci level has marked Bitcoin's top so far.
1. The zero point of the fib wedge is exactly where BLX price starts from at around $0.05 in 2010
2. The first fib level 0.236 marked the top around $30 in 2011
3. The second fib level 0.382 marked the top around $1100 in 2014
4. The third fib level 0.618 marked the top around $20,000 in 2017
5. The fourth fib level 0.786 marked the top around $66,000 in 2021
These are FIVE points of reference with pin-point accuracy. Not "by chance" or "coincidence".
Therefore, it is only fair to assume that the 6th one, which also completes this fib wedge being the final level of 1.0 on the fib wedge, is going to mark the next cycle top as well.
A highly conservative top would be around $150,000 while a more realistic target seems to be around $200,000 to $250,000. On the other hand, a highly optimistic target is around $300,000.
Also inferring from the chart an approximate time-point can be seen of mid-2025 for the next BTCUSD cycle top. A mid-cucle top of $120,000 to $150,000 in mid 2024 is also possible.
The important thing to remember is fib level 1.0 around mid-2025. How the price gets there is anyone's guess.
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Sidenote: The series of 5 side-by-side fib retracements each are set as follows:
- 0 marks the top of each cycle
- 1 is aligned with the bottom of the cycle immediately preceding it
The resulting congruence among the retracements and their harmony with each other is astounding.
===
Disclaimer: Keep in mind that market predictions are about as reliable as a weather forecast in outer space. Use this analysis as a conversation starter, not as financial advice. Investing in cryptocurrencies carries risks, so do your homework and make informed decisions. Remember, no crystal balls here—just a pinch of insight and a dash of caution
1. The zero point of the fib wedge is exactly where BLX price starts from at around $0.05 in 2010
2. The first fib level 0.236 marked the top around $30 in 2011
3. The second fib level 0.382 marked the top around $1100 in 2014
4. The third fib level 0.618 marked the top around $20,000 in 2017
5. The fourth fib level 0.786 marked the top around $66,000 in 2021
These are FIVE points of reference with pin-point accuracy. Not "by chance" or "coincidence".
Therefore, it is only fair to assume that the 6th one, which also completes this fib wedge being the final level of 1.0 on the fib wedge, is going to mark the next cycle top as well.
A highly conservative top would be around $150,000 while a more realistic target seems to be around $200,000 to $250,000. On the other hand, a highly optimistic target is around $300,000.
Also inferring from the chart an approximate time-point can be seen of mid-2025 for the next BTCUSD cycle top. A mid-cucle top of $120,000 to $150,000 in mid 2024 is also possible.
The important thing to remember is fib level 1.0 around mid-2025. How the price gets there is anyone's guess.
===
Sidenote: The series of 5 side-by-side fib retracements each are set as follows:
- 0 marks the top of each cycle
- 1 is aligned with the bottom of the cycle immediately preceding it
The resulting congruence among the retracements and their harmony with each other is astounding.
===
Disclaimer: Keep in mind that market predictions are about as reliable as a weather forecast in outer space. Use this analysis as a conversation starter, not as financial advice. Investing in cryptocurrencies carries risks, so do your homework and make informed decisions. Remember, no crystal balls here—just a pinch of insight and a dash of caution