THIS IS UNBELIEVABLE! & FREIGHTENING IN ITS IMPLICATIONS!
If you look at each cycle you'll find that the 6.18% Fib extension from each peak to trough points to two things:
1. that level is likely to be bring a temporary pullback/retracement during the bullrun of bitcoin in that cycle. IT HAS DONE THIS EVERY TIME SO FAR!
2. that level then eventually proves to be the NEXT BOTTOM area for the next trough AFTER the blow off top!
3. Today that 61.8% extension measured from the 2017 peak down to the 2019 bottom at $3200 pointed exactly at where we crashed in May, and that was exactly at $65,000!
REMEMBER: this level first acts as temporary resistance at first but then has always been pierced through for our blow off top. After that once BTC goes into its bear cycle bottom this level then acts as that bottom support area.
WHAT THIS MEANS RIGHT NOW:
well this basically means that WHERE WE ARE CURRENTLY (this $40k-$60k range) will MOST LIKELY BE THE BOTTOM IN 2022-2023!
THIS ALSO MEANS THAT WE FIRST HAVE A LOOOOONG WAY TO GO UP FIRST BEFORE THAT EVENTUAL CRASH.
And based on the mean fractals right now this is pointing exactly to $280,000 or so as the BTC top for this year's peak!
If you look at each cycle you'll find that the 6.18% Fib extension from each peak to trough points to two things:
1. that level is likely to be bring a temporary pullback/retracement during the bullrun of bitcoin in that cycle. IT HAS DONE THIS EVERY TIME SO FAR!
2. that level then eventually proves to be the NEXT BOTTOM area for the next trough AFTER the blow off top!
3. Today that 61.8% extension measured from the 2017 peak down to the 2019 bottom at $3200 pointed exactly at where we crashed in May, and that was exactly at $65,000!
REMEMBER: this level first acts as temporary resistance at first but then has always been pierced through for our blow off top. After that once BTC goes into its bear cycle bottom this level then acts as that bottom support area.
WHAT THIS MEANS RIGHT NOW:
well this basically means that WHERE WE ARE CURRENTLY (this $40k-$60k range) will MOST LIKELY BE THE BOTTOM IN 2022-2023!
THIS ALSO MEANS THAT WE FIRST HAVE A LOOOOONG WAY TO GO UP FIRST BEFORE THAT EVENTUAL CRASH.
And based on the mean fractals right now this is pointing exactly to $280,000 or so as the BTC top for this year's peak!