BitcoinLong
Long Term Fibonacci Based History & Forecast
Updated
LOGARITHMIC FIB PATTERNS
Based upon previous high and low
2011 $31.91 top (blue fibs): 2.786 extension
2013 $1242 top (yellow fibs): 2.272 extension
2017 $19804 top (green fibs): 2.272 extension
2021 $? top (light blue fibs): 2.272 or 2.786 extension at $207.467 or $269.674 respectively
Based upon 2013 $266 high and $65.42 low (magenta fibs)
2013 $1242 top: 2 extension
2017 $19804 top: 4 extension
2021 $? top: 6 extension at $295.620
Based upon 2011 $31.91 high and $1.99 low (yellow fibs)
2013 $1242 top: 2.272 extension
2017 $19804 top: 3.272 extension
2021 $? top: 4.272 extension at $279.809
TIMELINE & CONCLUSION
Current velocity compared to prior 2013-2017 period is higher (bar pattern red) than before (bar pattern faint orange) which at current speed could put in the top around June/July 2021.
We have already reached the intermediate top around $62.000. In April 2013 this was equivalent to the $177 level (seen on yellow fib) and in August 2017 the $4373 level (seen on green fib).
Price targets for this year could be around $207.467 at the low end and $269.674 to $295.620 at the high end.
Based upon previous high and low
2011 $31.91 top (blue fibs): 2.786 extension
2013 $1242 top (yellow fibs): 2.272 extension
2017 $19804 top (green fibs): 2.272 extension
2021 $? top (light blue fibs): 2.272 or 2.786 extension at $207.467 or $269.674 respectively
Based upon 2013 $266 high and $65.42 low (magenta fibs)
2013 $1242 top: 2 extension
2017 $19804 top: 4 extension
2021 $? top: 6 extension at $295.620
Based upon 2011 $31.91 high and $1.99 low (yellow fibs)
2013 $1242 top: 2.272 extension
2017 $19804 top: 3.272 extension
2021 $? top: 4.272 extension at $279.809
TIMELINE & CONCLUSION
Current velocity compared to prior 2013-2017 period is higher (bar pattern red) than before (bar pattern faint orange) which at current speed could put in the top around June/July 2021.
We have already reached the intermediate top around $62.000. In April 2013 this was equivalent to the $177 level (seen on yellow fib) and in August 2017 the $4373 level (seen on green fib).
Price targets for this year could be around $207.467 at the low end and $269.674 to $295.620 at the high end.
Trade active
We just passed the main level of 72K, the next major area where big drawdowns will happen will be between 280-300k
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