Technical Analysis : BTC Bitcoin - 11022021

in #btc • 3 years ago

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This chart shows the capability of each cycle forecasting the performance of the next cycle with the use of Fibonacci Extensions.

The 1.618 Fib level is not only the first level of resistance in the next cycle, but it also acts as a rough support level for where the cycle will retrace to in the bear market.

The 2.272 Fib level marks roughly where the cycle top should occur. This cycle is showing a top of $204,500 - $250,295 for Bitcoin.

P.S. - I just recovered this account from 2017, it's wild to think about what I was trying to learn about TA back then versus what I know now haha. Good luck everyone! I thought I would share my insights on where I think this cycle is going! :D Glad to be back!

#fibonacci #twohundredk
3 years ago in #btc by
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