BTC: Future of BTC could be very bright[Fib levels all theory]
I came across this idea of using chaos theory and converting them into Fib levels.
Looking at this idea, i decided to plot out "wild levels" where we use the 4.669, 8.77 as the "wild levels". I took this even further and added the 11.09 and 17.94 fib level to the chart.
What i found the most interesting is that the 17.94 fib level, represented the following bull run cycle top(slightly front ran by a few hundred dollars). What you can see is that drawing out these fib levels from cycle lows to cycle top, on the first bull run, we saw the 17.94 fib level came out to be $20,826.61 while the 2017 cycle topped out exactly at $19,666.
Using this idea that in the next bull cycle, we will hit the previous 17.94 fib level means we will reach roughly $350,226 in this existing cycle.
The next bull run if we hit near the middle $300,000 range, means we should see a cycle top of around $5,926,308.
THis means by roughly mid august, bitcoin is likely to reach it's cycle top, and we will be in free fall until around November 2022. From this point we will likely be trading in an upward trend before breaking the 2021 cycle top and moving towards the $5.9million price tag.
The outlook of bitcoin looks incredibly good.
Looking at this idea, i decided to plot out "wild levels" where we use the 4.669, 8.77 as the "wild levels". I took this even further and added the 11.09 and 17.94 fib level to the chart.
What i found the most interesting is that the 17.94 fib level, represented the following bull run cycle top(slightly front ran by a few hundred dollars). What you can see is that drawing out these fib levels from cycle lows to cycle top, on the first bull run, we saw the 17.94 fib level came out to be $20,826.61 while the 2017 cycle topped out exactly at $19,666.
Using this idea that in the next bull cycle, we will hit the previous 17.94 fib level means we will reach roughly $350,226 in this existing cycle.
The next bull run if we hit near the middle $300,000 range, means we should see a cycle top of around $5,926,308.
THis means by roughly mid august, bitcoin is likely to reach it's cycle top, and we will be in free fall until around November 2022. From this point we will likely be trading in an upward trend before breaking the 2021 cycle top and moving towards the $5.9million price tag.
The outlook of bitcoin looks incredibly good.
We could experience this same thing during our current cycle run which means we would hit somewhere around $216,558 before having a large pull back before rallying back towards the $350,000 range.
I do not believe we will hit the peak of $350,000 this cycle, i think it will be in the range of roughly $306500 range +/- $10k before falling back down to roughly $53,000 which will bottom by November 2022.
We will proceed on up towards our existing cycle top and break above it sometime in mid to late (IE sometime after August) 2024 before we see another growth towards the $5.9 million mark.
This is all theory and lots of things need to play out for this to happen. Will it happen? Who knows as these are just theories.