Bitcoin long term 0.618 fib retrace analysis, mountain man
i see a big gap between $1800 and $1700 which was not retested since the start of the bullrun.
I have followed each peaks of current run showing where the 628 level was hit
I see this as the target retracement area if we breakout of the current range we are sitting in then break the massive support around $2800
If we break above current range then make all time high (retest the high then retracing to this level is highly unlikely without a worldwide fundamental event.
The chart also outlines the rough 235 day cycle that bitcoin has been repeating since the very start but last 2 have had china announcements effecting the peaks of the cycle with fundamental events.
(based off this work
)
I have followed each peaks of current run showing where the 628 level was hit
I see this as the target retracement area if we breakout of the current range we are sitting in then break the massive support around $2800
If we break above current range then make all time high (retest the high then retracing to this level is highly unlikely without a worldwide fundamental event.
The chart also outlines the rough 235 day cycle that bitcoin has been repeating since the very start but last 2 have had china announcements effecting the peaks of the cycle with fundamental events.
(based off this work
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