Plotting fib levels on the monthly I noticed a pattern. After a run we find an average around .786. Plotting the fibs based off the pull back then gives us an ATH target for the next run at 30.618 with the exception of this last run ending at 18.618. Assuming this pattern continues that puts the next ATH between $312,508(18.618) and $511,902(30.618) and a bottom of the 48,000 range. *assuming* these are the rough future highs and lows. Case 1 and 2 show possible price targets for the following run should the pattern repeat.
Halving events marked in white vertical lines for time frame reference
This is not financial advice. These are wildly speculative numbers without accounting for possible global recessions and price action movement
doublekdominateog
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@KingSillybottom, I totally agree with your chart. Bitcoin has been moving in cycles for the past 9 years. I personally think more money will be flooding into Bitcoin during the recession.
What do you think will happen to Bitcoin during the upcoming recession?
KingSillybottom
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@doublekdominateog, I could imagine that a lot of small time traders will end up selling off but institutions with the patients and funds to survive will all have their buy orders set