KingSillybottom
Long

Monthly BTC index fib levels

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Plotting fib levels on the monthly I noticed a pattern. After a run we find an average around .786. Plotting the fibs based off the pull back then gives us an ATH target for the next run at 30.618 with the exception of this last run ending at 18.618. Assuming this pattern continues that puts the next ATH between $312,508(18.618) and $511,902(30.618) and a bottom of the 48,000 range. *assuming* these are the rough future highs and lows. Case 1 and 2 show possible price targets for the following run should the pattern repeat.

Halving events marked in white vertical lines for time frame reference

Comments

This is not financial advice. These are wildly speculative numbers without accounting for possible global recessions and price action movement
Reply
doublekdominateog KingSillybottom
@KingSillybottom, I totally agree with your chart. Bitcoin has been moving in cycles for the past 9 years. I personally think more money will be flooding into Bitcoin during the recession.
What do you think will happen to Bitcoin during the upcoming recession?
Reply
KingSillybottom doublekdominateog
@doublekdominateog, I could imagine that a lot of small time traders will end up selling off but institutions with the patients and funds to survive will all have their buy orders set
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out