Bitcoin (BTCUSD) has been trading within a Channel Up pattern through the entirety of its Bull Cycle. The key characteristic of this pattern, which has also helped us at taking profits during each phase in timely manner, has been that every High since the Bear Cycle's Lower Highs trend-line broke, has been on a +0.5 Fibonacci extension interval.
As you can see, starting from Fib 1.5 ext, BTC has fulfilled the pattern by making Highs on the 2.5, 3.5 and 4.5 Fibs so far. What technically remains plausible until the end of the year is the 5.5 Fib ext, which sits at $180k.
With the 4-year Cycle theory suggesting a Cycle Top a little before the end of the year, is it realistic to expect this Target? Do you think there's time for BTC to make one final run like this? Feel free to let us know in the comments section below!
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As you can see, starting from Fib 1.5 ext, BTC has fulfilled the pattern by making Highs on the 2.5, 3.5 and 4.5 Fibs so far. What technically remains plausible until the end of the year is the 5.5 Fib ext, which sits at $180k.
With the 4-year Cycle theory suggesting a Cycle Top a little before the end of the year, is it realistic to expect this Target? Do you think there's time for BTC to make one final run like this? Feel free to let us know in the comments section below!
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.