Bitcoin Fractal Analysis - Updated
After yesterday's pump to 13.8k, I have updated the fractal boxes and made a prediction for BTC price going ahead. Each breakout phase has been 1.62x (Golden Ratio) higher than the one in the previous epoch. Also, each cycle is longer than the previous by 9 days or approximately 20%. The Fibonacci level of 1.618 from current all time high to cycle low coincides with the fractal target.
Summary: 1 bitcoin to be worth $29890.84 around August 21, 2019.
Causes of concern:
We need to hold 11.6k for the fractal analysis to remain valid.
Price/50 Week MA and Mayer Multiple values are already quite high. If these fractals are to play out, their values will reach unprecented highs.
Summary: 1 bitcoin to be worth $29890.84 around August 21, 2019.
Causes of concern:
We need to hold 11.6k for the fractal analysis to remain valid.
Price/50 Week MA and Mayer Multiple values are already quite high. If these fractals are to play out, their values will reach unprecented highs.
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