Bitcoin Entering Price Discovery? Golden Ratio Multiplier Suggests $130,000 A...
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 […]
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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....
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 […]
In this episode of NewsBTC’s daily technical analysis videos, we examine how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 29, 2022 Using the Fibonacci retracement tool not for retracement but for extensions, we have found a golden discovery using math. Related Reading: Bitcoin & The Global Currency Meltdown | BTCUSD September 28, 2022 Did Bitcoin Bottom At The Golden Ratio? In Elliott Wave Theory, corrections come in ABC patterns. Taking the....
On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross is currently showing a trajectory that could suggest a bearish outcome for the BTC price. Bitcoin NVT Golden Cross Is Near Overheated Territory Right Now As explained by an analyst in a CryptoQuant Quicktake post, the NVT Golden Cross has a high value at the moment. The “NVT Ratio” is an on-chain indicator that keeps track of the ratio between the Bitcoin market cap and transaction volume. The market cap here is simply the total value of the cryptocurrency’s circulating supply at the current....
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 […]