I took the 2017 fractal pattern from the first big pullback of the last cycle and added to this cycle showing a top on October 25th 2021 very interesting. Now that we hit 30000 ,we have three confluence points that create this bottom support line that puts together the final piece of the puzzle.
The Date can be narrowed down between late October to December 2021 with a price range of 155000 to 190000 dollars. I strongly believe that the genesis line(ibb.co/HTSKWS9) will not be broken this cycle it will act as resistance like it did in June 2019 at 14000. We also have a Fib time zone date coming in the week of December 13th 2021.
All bitcoin needs to do is not break this newly formed support line and we are good , a break of this support line and this analysis fails.
Btc isn’t done yet. Bears partying rn but what they don’t know is that mom and dad are coming home 3 days early from vacation....
DataShock
⋅
This makes total sense and lines up with the halfing model from 2013 and 2017 that I recently learned about. What support level are you referring to the 30000 one?
Sporia
⋅
@Shockstock, support line created with the bottom of the covid crash , the start up for the bullrun oct and the 30000 crash we had a week ago
ichman
⋅
Interesting! How did you determine the width of the logarithmic spiral?
Sporia
⋅
@ichman, Using Fib Time zones , if you drag the chart back you can see white vertical lines throughout the chart by placing the first two vertical lines (Fib TIme Tool) points you get the rest of the dates , what i noticed is that this particular Fib time zone date has a lot of confluence.
ichman
⋅
@Sporia, Thanks! Very useful post. I had the feeling that the bubble would burst in late 2021, after September.