BITCOIN Ultimate historic Fibonacci extensions cheat-sheet

13 במרץ 2022

On this analysis I am taking Bitcoin's price action since it first started trading. I've used the Fibonacci Channel extensions to identify any possible correlations with how its Logarithmic Growth curve (the parabola that fuels BTC's growth on each Cycle) is shaped over the years.

I've made several publications on why the +.382 Fibonacci extension roughly calculates the Highs. I've plotted that on this chart again and as you see so far the 2.382 Fibonacci extension has roughly predicted the December 2013 High while the 3.382 extension, the December 2017 High. The 4.383 Fib extension roughly sits at 350k.

But let's circle back to how the Fibonacci Channel extensions can relate to these patterns. As you see, the first two Cycle Highs have been (naturally for the first) on the 0.0 Fib with bottoms outside of the 0.5 Fib. The High of the next Cycle was on the 0.5 Fib with the Low outside of the 1.0 Fib. The High of April 2021 was outside of Fib 1.0 and the current Low of 2022 exactly on the 1.5 Fibonacci extension of the Channel.

This pattern, though not perfect, it shapes fairly well Bitcoin's parabolic path over the years. Based on that, the next High should be either on or on the left of Fibonacci Channel extension 1.5 and the Low either on or left of extension 2.0. Regarding the High that projection fits well with the 4.382 horizontal Fib extension of $350000 and could be achieved by the end of 2023.

Is this a wild projection to make? What do you think? Can those Fibonacci Channel extension identify the logarithmic path of Bitcoin and if so is 350k a reasonable estimate? Feel free to share your work and let me know in the comments section below!



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