1.618 is our golden number here
With the high in December 2017 Bitcoin had just ended it's largest Elliott fractal (big blue wave) which had taken about 7 years plus to form.
There is evidence that Bitcoin currently sits in a major correction that is not only correcting the 2017 bull market but the entire 7 years bull market which could possibly extend the bear market significantly.
With the help of Fibonacci Time Zones, drawing each of them from the lows to the tops for each impulse wave that completed.
All capitulation phases start to align almost magically to the 1.618 number (red marked lines).
The question now is to which of the two red lines are we possibly correcting? my personal guess would be to both of them kinda! Please take this with a grain of salt Bitcoin is the most bullish asset in history just by its pure fundamentals alone a global black swan event could always bring the price possibly overnight to the very moon.
With the high in December 2017 Bitcoin had just ended it's largest Elliott fractal (big blue wave) which had taken about 7 years plus to form.
There is evidence that Bitcoin currently sits in a major correction that is not only correcting the 2017 bull market but the entire 7 years bull market which could possibly extend the bear market significantly.
With the help of Fibonacci Time Zones, drawing each of them from the lows to the tops for each impulse wave that completed.
All capitulation phases start to align almost magically to the 1.618 number (red marked lines).
The question now is to which of the two red lines are we possibly correcting? my personal guess would be to both of them kinda! Please take this with a grain of salt Bitcoin is the most bullish asset in history just by its pure fundamentals alone a global black swan event could always bring the price possibly overnight to the very moon.
