In 2021, Bitcoin had a correction in January when it hit the 2x (~$40.000) of the previous ATH (~$20.000), which was at around middle between 1.618 and 2.618 Fibonacci. After that it hit the final cycle top at $64.000 2.618 Fibonacci in April 2021.
In 2024, the price action is faster with 1 month. It will reach ~$125.000 (middle of 1.618 and 2.618 Fibonacci) in the end of December or beginning of January and then drop to $100.000 again. After that, it will continue to 2.618 Fibonacci at ~$150.000 in March.
In 2024, the price action is faster with 1 month. It will reach ~$125.000 (middle of 1.618 and 2.618 Fibonacci) in the end of December or beginning of January and then drop to $100.000 again. After that, it will continue to 2.618 Fibonacci at ~$150.000 in March.
Note
The only difference is the previous cycle high was 3.618 and now it is at 2.618. This is because of the law of diminishing returns.
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.
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.