Bitcoin long term 0.618 fib retrace analysis, mountain man
i see a big gap between $1800 and $1700 which was not retested since the start of the bullrun.
I have followed each peaks of current run showing where the 628 level was hit
I see this as the target retracement area if we breakout of the current range we are sitting in then break the massive support around $2800
If we break above current range then make all time high (retest the high then retracing to this level is highly unlikely without a worldwide fundamental event.
The chart also outlines the rough 235 day cycle that bitcoin has been repeating since the very start but last 2 have had china announcements effecting the peaks of the cycle with fundamental events.
(based off this work
)
I have followed each peaks of current run showing where the 628 level was hit
I see this as the target retracement area if we breakout of the current range we are sitting in then break the massive support around $2800
If we break above current range then make all time high (retest the high then retracing to this level is highly unlikely without a worldwide fundamental event.
The chart also outlines the rough 235 day cycle that bitcoin has been repeating since the very start but last 2 have had china announcements effecting the peaks of the cycle with fundamental events.
(based off this work
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.