Bitcoin cycling along

2020년 9월 9일

Just an idea but if you use long form Fibonacci sequence numbers as extensions of bitcoin's first cycle, you get interesting results. Each of those levels served as major levels of support/resistance.

Just look at that 2013 top and the 2018 ATH.

Each top takes successively longer to play out with diminishing gains in each cycle, and each cycle takes successively longer to reach a peak after each halving.

Using a trend-based fib extension, there has always been at least a 0.618 extension of the previous cycle.

Expecting this cycle to reach peak sometime late 2022 - early 2023 with a potential target of 133k.