Bitcoin Monthly Fibonacci - Breaking Out
Bitcoin has recently crossed $69,340.42. A key Fib level for Bitcoin.
During the 2020-21 bull run we trended upward heavily for 7 Months before our first correction.
October to March was the period.
How familiar.
In our current uptrend we started a month earlier in September in rather than October, although, this month showed somewhat stale moves so I will be excluding it.
Let me reiterate:
7 Months. October 2020, March 2021.
7 Months. October 2023, March 2024.
History may not always repeat itself. This time institutions and a whole other level of money is involved, however, this is some food for thought considering how close the timeline is to 2020-21.
If we push past $90,000.00 before the 14/04/2021 there will be a high probability (based of the last cycle) of a three month consolidation from the high that is made before the second leg of the run.
During the 2020-21 bull run we trended upward heavily for 7 Months before our first correction.
October to March was the period.
How familiar.
In our current uptrend we started a month earlier in September in rather than October, although, this month showed somewhat stale moves so I will be excluding it.
Let me reiterate:
7 Months. October 2020, March 2021.
7 Months. October 2023, March 2024.
History may not always repeat itself. This time institutions and a whole other level of money is involved, however, this is some food for thought considering how close the timeline is to 2020-21.
If we push past $90,000.00 before the 14/04/2021 there will be a high probability (based of the last cycle) of a three month consolidation from the high that is made before the second leg of the run.
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