Uptrend of previous cycle was as follows:
(1) Follow the 1800-3000-2400 move making the dip of 2400 at Fibo 50.0.
(2) Taking the Fibo extension of this, bitcoin price first spiked to 4200 level ~Fibo 1.618.
(3) After consolidation, the final peak of 5000 was somewhere between 1.618 and 2.618.
If this Fibo pattern to repeat:
(1) 3000-4150-3550 confirms Fibo 50.0 retracement. (OK)
(2) Now moving towards 1.618 level around ~5400. (Continues…)
(3) Then pattern shows consolidation and final spike to ~6000.
Unicorn shall fly again…
(1) Follow the 1800-3000-2400 move making the dip of 2400 at Fibo 50.0.
(2) Taking the Fibo extension of this, bitcoin price first spiked to 4200 level ~Fibo 1.618.
(3) After consolidation, the final peak of 5000 was somewhere between 1.618 and 2.618.
If this Fibo pattern to repeat:
(1) 3000-4150-3550 confirms Fibo 50.0 retracement. (OK)
(2) Now moving towards 1.618 level around ~5400. (Continues…)
(3) Then pattern shows consolidation and final spike to ~6000.
Unicorn shall fly again…
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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.