So by looking at Fibo levels, one can see that in the previous cycle (2017-2021) Bitcoin top was around 3.618 fibo level with respect to the previous ATH.
Now, in this cycle we can see every leg up is also following Fibo levels:
So next leg could take us from 1.618 to around 2.618, which is 157k USD. Now it may be a bit more higher, aorund 180k, which would take us to the orange / red zone of the bitcoin rainbow pricing model.
Now the timeframe to achieve that price level should be around July to September if we follow a similar pattern to previous legs, which would also coincide with the timing of peaks of previous cycles, following the rainbow model and halving cycles.
Now, in this cycle we can see every leg up is also following Fibo levels:
- First leg from fibo 0 to 0.236
- Second leg from fibo 0.236 to 0.5
- Third leg from fibo 0.5 to 1
- FOurth leg from fibo 1 to 1.618
So next leg could take us from 1.618 to around 2.618, which is 157k USD. Now it may be a bit more higher, aorund 180k, which would take us to the orange / red zone of the bitcoin rainbow pricing model.
Now the timeframe to achieve that price level should be around July to September if we follow a similar pattern to previous legs, which would also coincide with the timing of peaks of previous cycles, following the rainbow model and halving cycles.
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Related publications
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.