Bitcoin price is struggling to maintain above $20,000 per coin — a level that few expected the top cryptocurrency to trade at ever again once it passed the key resistance the first time.
In a new prediction, the next target for BTCUSD might also reach a level that very few at this point would consider or expect. However, ages-old mathematics and Elliott Wave Theory could suggest the next cycle may possibly peak much sooner than many would believe — and at price of $161,800 per coin.
Finding Price Targets With The Mysterious Power Of Fibonacci
Cryptocurrency traders commonly use Fibonacci retracements and extensions to make decisions about where and when to buy or sell. It isn’t known why prices tend to gravitate toward these levels, but the ratios are found all throughout the natural world.
For example, Venus orbits the sun in 224.6 days, while Earth at 365.2 days. This creates a ratio of 8/13 — both Fibonacci numbers — which is roughly 0.618. This is precisely w
We współpracy z: https://bitcoinist.com/bitcoin-161800-target-fibonacci-elliott-wave-theory/
