This is a simple yet very powerful Bitcoin (BTCUSD) Cycle mapping. Easy when you see the final result but not so obvious for the naked eye.
Each BTC Bear Cycle consists of Two Fibonacci Phases. Phase 1 is the first significant drop and Phase 2 form's the Cycle Bottom. Since 2014, both Phases on each Cycle have been highly symmetrical. Phase 1 second drop (red circle) has every time been on the same Fibonacci extension as Phase 2 second drop (green circle). In 2014 it was the 1.382 Fib ext, in 2018 it was the 2.0 Fib ext and in 2022 the 1.382 Fib ext again.
On the current Cycle, Phase 1 made a second drop on the 1.618 Fib ext. Our model indicates that Phase 2, having already made its first drop, is aiming for its second one on the 1.618 Fib ext as well. That is currently at $46500, slightly below the 1W MA350 (red trend-line), which is where the 2022 Bear Cycle bottom was priced.
Will history get repeated? Feel free to let us know in the comments section below!
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Each BTC Bear Cycle consists of Two Fibonacci Phases. Phase 1 is the first significant drop and Phase 2 form's the Cycle Bottom. Since 2014, both Phases on each Cycle have been highly symmetrical. Phase 1 second drop (red circle) has every time been on the same Fibonacci extension as Phase 2 second drop (green circle). In 2014 it was the 1.382 Fib ext, in 2018 it was the 2.0 Fib ext and in 2022 the 1.382 Fib ext again.
On the current Cycle, Phase 1 made a second drop on the 1.618 Fib ext. Our model indicates that Phase 2, having already made its first drop, is aiming for its second one on the 1.618 Fib ext as well. That is currently at $46500, slightly below the 1W MA350 (red trend-line), which is where the 2022 Bear Cycle bottom was priced.
Will history get repeated? Feel free to let us know in the comments section below!
---
** 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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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.
I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
💰Join TradingShot Account Management | +20% monthly profit | Min. capital $30k | Excellent risk-management
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.