Golden Ratio Multiplier Called Bitcoin Top In 2021 – Here’s What It’s Saying Now
Bitcoin is still trading around the $103,000 mark, although the upward momentum it started in May has exhibited a slowdown in the past seven days. Although a short-term volatility is currently playing out, the long-term outlook is undoubtedly bullish. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month Some analysts are looking to long-term cycle indicators for direction. One such tool, the Golden Ratio Multiplier, which called the Bitcoin top in 2021, has resurfaced with another interesting top for the current Bitcoin cycle. Golden Ratio Multiplier....
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Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model. This bullish prediction comes after an impressive price surge in the past week, hinting that the premier cryptocurrency may have more room for immediate price growth. Related Reading: Bitcoin […]
Bitcoin and other assets often develop support and resistance around Fibonacci levels, either through extensions or retracement. The ratios are based on the Fibonacci sequence, which has ties to the Golden Ratio. With the top cryptocurrency so tied to mathematics, the Golden Ratio could provide clues as to where Bitcoin is in its latest market […]
On-chain data shows the Bitcoin NVT ratio is currently flashing a buy signal, a sign that the bottom for the asset’s price might now be in. Bitcoin NVT Golden Cross Is Showing A Green Signal As pointed out by an analyst in a CryptoQuant post, the Network Value to Transactions (NVT) Golden Cross has now dipped below the -2 mark. The “Network Value to Transactions (NVT) ratio” is an indicator that measures the ratio between the Bitcoin market cap and transaction volume (both denominated in USD). When the value of this metric is high, it means that the price of the asset....
Over the last few days, the Dogecoin price has struggled to hold up with the Bitcoin price hitting multiple resistances. This has triggered a wave of liquidations for crypto traders who have been betting on the price to go higher. The decline has also raised concerns as to whether the bullish rally that began at the start of the month is finally over. Dogecoin Price Faces Major Resistance Crypto analyst MindfullyLost has explained what is plaguing the Dogecoin price recently. According to the crypto analyst, the Dogecoin price has seen good support on the 4HR, which has continued to be....
Bitcoin (BTC) appears to be gearing up for another price discovery phase. The leading digital asset by market capitalization has gained an impressive 17.4% over the past month, setting a new all-time high (ATH) of $111,980 on May 22. Bitcoin Ready To Enter Price Discovery Mode? According to a recent X post by crypto analyst […]