#Bitcoin #Fibonacci 

1.618 → 2.272 Theory (update)

https://image.nostr.build/fecba3a56593a2296cc4d604ac2a203cb6efd239de5b14efd0ef6e2bea07787a.jpg#m=image%2Fjpeg&dim=1920x1206&blurhash=rBR%7Bx%25J7%24Qo%7Cx%5Drspc%24kxvDO_N-VRio%7Dn4OpMxR*%5E%2C.8IUD%25RjniWCRPW.-%3DDhE1s%3Bj%3Fo%7DxHx%5Dt6.SH%3FkX-qV%40Oqa0bvRipvMdkqt6VYX9n4o%23nj&x=b5cf7dfb1523dbb612c62dcfe5f4d497a5018381bd8c049d3010925c17937e4f

Comparing the recovery and extension of the 2011, 2014 and 2018 bearmarkets, the following repeating structure is observed.

🟢 First Struggle to overcome the 0.618-0.786 before ATH.

🔴 Second Struggle to overcome the 1.618 extension resistance.

When breaking through the 🔴 1.618 resistance, previous 2 times price flew within 1-3 months to its next cycle top at around the 2.272 extension. 

Guess what, the 2.272 extension of the 2018 bearmarket lies at $205k.

source:

https://twitter.com/GertvanLagen/status/1746111542100164721?t=PFF3DLIFa-vT5Pg-xvNlhg&s=19 

 cycle change from 4y to 8y for form fitting