In this analysis, I was initially charting BTC's ascending triangle and finding the price target range. I went to confirm that we were truly at a bottom by using the Trend-Based Fib Extensions and also confirm the price target range, both have been confirmed. Then I began to question whether the previous cycle's Fib Extionsions had any implications on price levels of this cycle, and it appears they do. I had extrapolated the .618 fib (widely viewed as the most crucial level) all the way out to 7.618, through out this extrapolation, I was able to identify many of the key resistance and support levels that we have found throughout this cycle, and presumably into the future. The 6.618 Fib Extension from the previous cycle lies within a reasonable range of the 1.382 Fib Extension from this cycle, which also coincides within the price target of our current ascending triangle pattern.
Hope this gives insight to those who are inquisitive and a nice dose of hopium to those who are fearful. 12 years ago BTC was below a dollar and it will continue to trend upward over the long term.
Hope this gives insight to those who are inquisitive and a nice dose of hopium to those who are fearful. 12 years ago BTC was below a dollar and it will continue to trend upward over the long term.