Bitcoin is OVERDUE for a Golden FIB Correction
Looking at the historical bull cycles for Bitcoin, there is a pattern that takes place in every one of them. Price retracing down to the “golden fibs” is a normal occurrence in a bull market. The last time we saw this move was in March of ‘23, we are long overdue to see this correction on the latest impulse.
A significant drop at some point can be expected. Dropping to the low $50k range would in fact keep us in a bull market, but also complete this pattern yet again. Will this happen? We know this pattern will occur at some point, but here are some key factors as to why I think it can be close.
1. This pattern is unavoidable
2. Bitcoin is overdue for this correction, currently 12 months running without it.
3. The current volume on the recent “sell-off” is too low. Meaning, there is much room to drop lower due to a lack of volume support on the HTF. If you consider the volume levels of the past, they are much higher on the dips before bouncing upward.
4. On HTF (3D cart) there is a void, or FVG level, at or near this golden fib zone in the low $50ks.
NFA - just a warning, something to be mindful of. A drop to the low $50ks would be a normal move, repeating history on previous cycles, and ….is likely at some point.
A significant drop at some point can be expected. Dropping to the low $50k range would in fact keep us in a bull market, but also complete this pattern yet again. Will this happen? We know this pattern will occur at some point, but here are some key factors as to why I think it can be close.
1. This pattern is unavoidable
2. Bitcoin is overdue for this correction, currently 12 months running without it.
3. The current volume on the recent “sell-off” is too low. Meaning, there is much room to drop lower due to a lack of volume support on the HTF. If you consider the volume levels of the past, they are much higher on the dips before bouncing upward.
4. On HTF (3D cart) there is a void, or FVG level, at or near this golden fib zone in the low $50ks.
NFA - just a warning, something to be mindful of. A drop to the low $50ks would be a normal move, repeating history on previous cycles, and ….is likely at some point.
Trade Math. Not Emotion