Potential Bitcoin Price Movement Based on Previous Cycles
Greetings crypto community! I wanted to share an interesting observation about potential bitcoin price movement based on fractals from past market cycles.
- In 2019, BTC was 42% below its previous all-time high (ATH). Currently, in 2024, it is 41% below the 2021 ATH.
- In 2019, BTC dumped 73% from the 0.786 Fibonacci retracement level. It is currently trading at the 0.786 level.
- In 2020, BTC was 73% down 322 days before the 3rd halving. Currently, it is 100% up 322 days before the upcoming 4th halving.
- There are similar price "boxes" between 2019 and 2024 -
13K-$GETTEX:14K back then versus $50k-
52K now, and $4k-$5k versus $FWB:21K-$23k.
If these fractals play out similarly, we could potentially see BTC in the $22k-$GETTEX:25K range soon.
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Greetings crypto community! I wanted to share an interesting observation about potential bitcoin price movement based on fractals from past market cycles.
- In 2019, BTC was 42% below its previous all-time high (ATH). Currently, in 2024, it is 41% below the 2021 ATH.
- In 2019, BTC dumped 73% from the 0.786 Fibonacci retracement level. It is currently trading at the 0.786 level.
- In 2020, BTC was 73% down 322 days before the 3rd halving. Currently, it is 100% up 322 days before the upcoming 4th halving.
- There are similar price "boxes" between 2019 and 2024 -
13K-$GETTEX:14K back then versus $50k-52K now, and $4k-$5k versus $FWB:21K-$23k.If these fractals play out similarly, we could potentially see BTC in the $22k-$GETTEX:25K range soon.
Please Like Share and Follow me for more quality analysis
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Twitter: twitter.com/CryptoPatel
Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
Telegram: t.me/OfficialCryptoPatel
Instagram: instagram.com/cryptopatel?utm_medium=copy_link
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.