Bitcoin Cycles and Fib Levels
Hi everyone,
Thank you for considering reading my idea. Please note that this is just my opinion, and I'm not saying that this is going to happen.
These are the data from the chart:
-- Cycle 1 --
High: $31.91
Low: $1.99
Fib Retracement Level for the Peak: 32 at $959.43
Actual Peak: $1,242
Margin: 29.45%
Duration: 903 days
-- Cycle 2 --
High: $1,242
Low: $162
Fib Retracement Level for the Peak: 16 at $17,442
Actual Peak: $19,804.2
Margin: 13.54%
Duration: 1470 days
-- Cycle 3 --
High: $19,804.25
Low: $3,124.51
Fib Retracement Level for the Peak: Based on the pattern 32 -> 16, let's assume 8 at $136,562.43
Actual Peak: N/A
Margin: N/A
Duration: Based on the pattern, 65 bars -> 105 bars. let's assume 145 bars on June 19, 2023) OR another pattern, 903 days -> 1470 days, let's assume 2,037 days on July 3, 2023.
-- Cycle 4 --
No data yet. It will be adjusted after cycle 3.
Also, this pattern is not sustainable if we keep diminishing the fib retracement level for the peak. Personally, I wouldn't use this as my basis.
TLDR;
Based on the patterns from historical prices, Bitcoin is estimated to peak between June 19, 2023 and July 3, 2023 at $136,562.43 with 13-29% margin ($154,315 - $176,165). Short term, I still expect Bitcoin to touch the 200 week moving average (green line) or you may see related ideas below.
Obviously, not financial advice and not 100% going to happen. This is just me playing with numbers and patterns.
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Thank you for considering reading my idea. Please note that this is just my opinion, and I'm not saying that this is going to happen.
These are the data from the chart:
-- Cycle 1 --
High: $31.91
Low: $1.99
Fib Retracement Level for the Peak: 32 at $959.43
Actual Peak: $1,242
Margin: 29.45%
Duration: 903 days
-- Cycle 2 --
High: $1,242
Low: $162
Fib Retracement Level for the Peak: 16 at $17,442
Actual Peak: $19,804.2
Margin: 13.54%
Duration: 1470 days
-- Cycle 3 --
High: $19,804.25
Low: $3,124.51
Fib Retracement Level for the Peak: Based on the pattern 32 -> 16, let's assume 8 at $136,562.43
Actual Peak: N/A
Margin: N/A
Duration: Based on the pattern, 65 bars -> 105 bars. let's assume 145 bars on June 19, 2023) OR another pattern, 903 days -> 1470 days, let's assume 2,037 days on July 3, 2023.
-- Cycle 4 --
No data yet. It will be adjusted after cycle 3.
Also, this pattern is not sustainable if we keep diminishing the fib retracement level for the peak. Personally, I wouldn't use this as my basis.
TLDR;
Based on the patterns from historical prices, Bitcoin is estimated to peak between June 19, 2023 and July 3, 2023 at $136,562.43 with 13-29% margin ($154,315 - $176,165). Short term, I still expect Bitcoin to touch the 200 week moving average (green line) or you may see related ideas below.
Obviously, not financial advice and not 100% going to happen. This is just me playing with numbers and patterns.
Thank you for reading my idea. Like this idea and follow me for more analysis like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
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