BTC shifts bands to $100,000 and no one is noticing the pattern!
Bitcoin is now next to making the 0.382 Fibonacci retracement test (ATH to 3150 bear cycle Low) and one thing has shocked the crypto world more than anything. The considerably shorter time it has taken BTC to do so compared to the previous two cycles. Few expected such a strong and continuous rebound since the 3150 bottom. Is this right? Since most researchers though that market cycles take longer within Bitcoin's parabola, why are we seeing such a strong rise and such a short test of the 0.382 Fibonacci?
Well what I posted 3 months ago regarding BTCUSD's band shift on the Fibonacci Channel, warning of an upcoming hyper strong bullish sequence while the price was still 3800, is now more relevant than ever:
Maybe the cycles don't become longer each time. Maybe they take turns. One is longer, the next is shorter and then the process is repeated. So far the Fibonacci Channel since its inception has been providing very clear supports for the cycles' bottoms (on 0.5, 0.382, 0.236 and near 0 in succession). This process may be reversed from now on with each bottom being on a band higher.
The current strong rebound from 3150 to 9100 may be an early indication of this band shift showing that the very aggressive bull cycle of 2012 - 2013 may be repeated. This suggests that the $100,000 land mark may come as early as 2020.
Do you think that we may be getting to 100000 that soon? Let me know in the comments section. Please subscribe and like if you enjoy the content!
Well what I posted 3 months ago regarding BTCUSD's band shift on the Fibonacci Channel, warning of an upcoming hyper strong bullish sequence while the price was still 3800, is now more relevant than ever:
Maybe the cycles don't become longer each time. Maybe they take turns. One is longer, the next is shorter and then the process is repeated. So far the Fibonacci Channel since its inception has been providing very clear supports for the cycles' bottoms (on 0.5, 0.382, 0.236 and near 0 in succession). This process may be reversed from now on with each bottom being on a band higher.
The current strong rebound from 3150 to 9100 may be an early indication of this band shift showing that the very aggressive bull cycle of 2012 - 2013 may be repeated. This suggests that the $100,000 land mark may come as early as 2020.
Do you think that we may be getting to 100000 that soon? Let me know in the comments section. Please subscribe and like if you enjoy the content!
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