Appear to have found a potentially epic Fib time, starting from the very beginning of BTCs recorded upward thrust. Thought some might be interested, so am deciding to publish this chart. Note it catches the last cycle high almost perfectly, as well as the most recent high at the 4.618. Fib time 5 shows up on Jan 4th 2022. This is closely aligned with many analysts prediction of near the end of this Bull cycle.
There is a simple fan drawn of the tops. The top of the last 2 major bull cycles trend line is in the middle, and intersects with Fib time 5 showing in the area of $344K. Which is also closely aligned with many predictions of BTC hitting in the 6 digit range this cycle.
Note the Fib retracement is from the absolute bottom to the absolute top of BTCs recorded history. This current retracement is hitting very strong resistance right now. The Fib retracement "Golden Pocket" of the entire chart is roughly between $24.7K and $22K, with the last cycle high being just under $20K hanging out below.
I'm not sure BTC can rally $300K+ in 6 months, but... what do you think?
If nothing else, looks to be an interesting next couple of months.
There is a simple fan drawn of the tops. The top of the last 2 major bull cycles trend line is in the middle, and intersects with Fib time 5 showing in the area of $344K. Which is also closely aligned with many predictions of BTC hitting in the 6 digit range this cycle.
Note the Fib retracement is from the absolute bottom to the absolute top of BTCs recorded history. This current retracement is hitting very strong resistance right now. The Fib retracement "Golden Pocket" of the entire chart is roughly between $24.7K and $22K, with the last cycle high being just under $20K hanging out below.
I'm not sure BTC can rally $300K+ in 6 months, but... what do you think?
If nothing else, looks to be an interesting next couple of months.
Comment:
BTC looks to be nearing the bottom either way. Coming down into heavy support on multiple charts, and by many measures.
s3.tradingview.com/s...shots/e/eVNh50Ct.png