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 Golden Cross has still not breached into the territory that marked the tops of previous cycles. 30-Day EMA Of Bitcoin NVT Golden Cross Is Still Below Overheated Zone As pointed out by an analyst in a CryptoQuant Quicktake post, the Bitcoin NVT Golden Cross is yet to hit an extreme level in the current cycle. The Network Value to Transactions (NVT) Ratio is an on-chain indicator that measures the ratio between BTC’s market cap and transaction volume. Related Reading: Bitcoin Newbie Whales Now Sitting On $6.9 Billion In Losses, Most Since 2023 When....
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 […]