BTC analysis of historic Fibonacci levels
I'm sure this analysis is just one of thousands looking at BTC!
It is a point of contention to call the top of a bull run, but what I though I would do is point out a few levels which are points of confluence when you use Fib's from the last bull run and the current bull run to analyse price movement.
I've used the initial breakout and retest levels (In the green box) as the starting point of the Fib levels from the 2020-2021 and 2023-2024 bull runs.
As we can see at present BTC price is at Fib 1.618 (99k) using the Fib over the 2020-2021 bull run. Highlighted in the red box. The next Fib area of confluence is 120k
On a momentum note-
BTC is at a point where the percentage growth of its second leg up is 103% compared to 277% in the first leg, BTC is showing signs of slowing momentum similar to the 2021 bull run 321% 1st leg vs 125% 2nd leg. We may see a slightly higher high around 105K but to me BTC price movement is showing similar signs of topping out to the 2021-2022 bull run.
Does anyone have a technical case for BTC continuing higher? I know on the fundamental side with Trump being elected that there is a bullish case because of the huge pressure that the Crypto space has been under the last 4 years of Democrat Biden Harris party.
With deregulation the industry should prosper.
It is a point of contention to call the top of a bull run, but what I though I would do is point out a few levels which are points of confluence when you use Fib's from the last bull run and the current bull run to analyse price movement.
I've used the initial breakout and retest levels (In the green box) as the starting point of the Fib levels from the 2020-2021 and 2023-2024 bull runs.
As we can see at present BTC price is at Fib 1.618 (99k) using the Fib over the 2020-2021 bull run. Highlighted in the red box. The next Fib area of confluence is 120k
On a momentum note-
BTC is at a point where the percentage growth of its second leg up is 103% compared to 277% in the first leg, BTC is showing signs of slowing momentum similar to the 2021 bull run 321% 1st leg vs 125% 2nd leg. We may see a slightly higher high around 105K but to me BTC price movement is showing similar signs of topping out to the 2021-2022 bull run.
Does anyone have a technical case for BTC continuing higher? I know on the fundamental side with Trump being elected that there is a bullish case because of the huge pressure that the Crypto space has been under the last 4 years of Democrat Biden Harris party.
With deregulation the industry should prosper.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.