Analysis: Each new cycle has been marked by a diminishing top based on Fibonacci multipliers. x13 has been reached in April 2013. x8 has been reached in November 2013. x5 has been reached in December 2017. x3 has been reached in April 2021.
Soon after each top has been reached, BTC dropped back to 365DMA support level. Following later by an attempt to retest Golden Ratio level from below. These events are marked as yellow rectangles on a chart.
After an attempt to retest Golden Ratio, BTC has always entered a prolonged downtrend to find market bottom at 365DMA * 0.382 (lowest green line)
Is this a massive bull trap before a final push below 365DMA?
코멘트
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Ignore 365DMA * 0.886 in lines from top to bottom description. That line is not present on a chart.
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My older TradingView account with interesting previous market calls: u/KIIX/