As you can see in this monthly chart, BTC previous cycles all time highs were pretty much around the -.0382 fib extension. In 2013/14 top was -25% from the -0.382 and in 2017 it pass the -0.382 by 15%. For this new cyble the -0.382 extension is at 206k.
The way I placed the fibs was by using the low from previous cycle to the midterm high before the major correction in the bull cycle.
I also placed the curve all the way from the beginning to determine the logarithmic scale. By doing so, we can have a better picture on how long it might take to reach the 200k level. Currently is showing it might reach this level by July 2025 (which personally I think it might be too long but its better to be conservative than delusional and just put emotions aside by reading the charts).
The yellow boxes, I copied that from crypto university (In this video he goes over what this means: www.youtube.com/watch?v=QrUd5xkK...)
Please let me know what do you think about my analysis and if BTC is going to break the heavy resistance from the curve line to reach 200k sooner than 2025.
The way I placed the fibs was by using the low from previous cycle to the midterm high before the major correction in the bull cycle.
I also placed the curve all the way from the beginning to determine the logarithmic scale. By doing so, we can have a better picture on how long it might take to reach the 200k level. Currently is showing it might reach this level by July 2025 (which personally I think it might be too long but its better to be conservative than delusional and just put emotions aside by reading the charts).
The yellow boxes, I copied that from crypto university (In this video he goes over what this means: www.youtube.com/watch?v=QrUd5xkK...)
Please let me know what do you think about my analysis and if BTC is going to break the heavy resistance from the curve line to reach 200k sooner than 2025.