This is for my personal records, it is not financial advice.
This chart plots what I think is happening next in the 2020-2024 Bitcoin cycle.
We have just finished the first correction since the All Time High( ATH ) was broken towards the end of 2020.
The first real pullback has occurred (Heskin candles).
Wit hthat level of detail , we can now draw the Fib trend onto the chart to gauge the ratios.
This is what I think they are.
This chart plots what I think is happening next in the 2020-2024 Bitcoin cycle.
We have just finished the first correction since the All Time High( ATH ) was broken towards the end of 2020.
The first real pullback has occurred (Heskin candles).
Wit hthat level of detail , we can now draw the Fib trend onto the chart to gauge the ratios.
This is what I think they are.
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it hit the 51K mark 14th March and 02 April before it retraced back to the 1.61 mark on the 18th April 2021.
Next steps are for the price to breakout to the upside and head towards the next Fib whole number.
Next steps are for the price to breakout to the upside and head towards the next Fib whole number.
As of Feb it is threathening the Fib 1.61 mark of €44.9K , due sometim towards the end of the Feb , before heading towards the Fib 2 level ( not marked on the chart) before retracing back to €44K then bouncing to 51K .