@TechDev_52, one of the well-known analysts of the crypto world, shared another pattern that can be fruitful in defining the Bitcoin (BTC) macro cycle peak.
According to the latest tweet shared by @TechDev_52, the performance of the leading cryptocurrency Bitcoin is repeating itself at the macro level.
Every full cycle #BTC has topped just over the log 2.272.
But how much more?
Turns out the linear 5.618 based on a key intracycle high/low pair has called the last two tops almost to the dollar.
This and more in my latest newsletter issue.https://t.co/N4oE2Fxgdb pic.twitter.com/1vH4tGLUQM
— TechDev (@TechDev_52) November 12, 2021
If we base 1.272 as the Fibonacci level for the bottom of the Bitcoin (BTC) cycle, the 2.272 level will be confidently predicted. This assumption worked perfectly in both the 2013 and 2017 cycles. This calculation can work if “Fibonacci Retracement Levels” are applied on a logarithmic scale.
On a linear scale, Bitcoin (BTC) bull run peak can be found at 5.618. If this is true, Bitcoin (BTC) could hit the peak of the next bull cycle above $233,000, or about 3.6x today’s price.
On the other hand, in one of the answers to the tweet of the analyst, who has 173,600 followers on Twitter, he stated that the next Bitcoin peak was also confirmed by the “Golden Triangle”, a sophisticated macro technical analysis model, and pointed to $233,000. Accordingly, it seems possible for BTC to peak between December 2021 and March 2022.