Technical analysis by Philip-Roth about Symbol BTC on 7/3/2024

This is an update to half of the Fibonacci channel chart analysis we did about a year ago. Price action has been stronger than we expected, necessitating relevant adjustments. On this chart, we again rely on the long-term time frames of Bitcoin (BTCUSD) for a more meaningful illustration of its historical cycles. These are patterns that have been repeated over and over again, with some variations of course based on current market conditions. Fibonacci channel At the moment the price has completed 4 months of consolidation after the early March high (ATH), always above the 1W MA50 (blue trend line). This consolidation is consistent with all previous post-halving actions, as BTC has always traded sideways and accumulated in the weeks following the halving, in preparation for the parabolic rally, the most aggressive phase of the cycle. The previous sessions topped near the Fibonacci lines of the previous sessions' channels. For example the cycle high was formed in December 2017 directly below the bottom (Fib 0.0) of the orange Fibonacci channel that started from the bottom of the previous cycle. November 2021 TOP formed just below the middle (Fib 0.5) of the blue Fibonacci channel. This could be a +0.5 Fib sequence, in which case the high of the current session may be below the top (1.0 Fib) of the black Fibonacci channel that started in December 2018. At the same time, another condition that “must” be met is to have a lower Fib of 0.0 than the blue channel, similar to what happened in December 2017 (slightly lower Fib of 0.0 than the orange channel). The two halves and $200,000 The 1.0 Fib is currently just under $300,000, and as we mentioned after each halving consolidation, Bitcoin posts the most aggressive rally (parabolic) of the bull cycle. This leads us to assume that the top of the current bull cycle will be at least $300,000. To give a relative sense of the path, we plot the “halving paths” for the previous three cycles on the current channel starting in the fourth half. As you can see, the orange (2013) and black (2020-2021) lines are more aggressive than the purple (2016-2017) lines but it is the latter that, as we have posted several times, has the greatest similarity to the current cycle. If Bitcoin follows the purple prices inside the black Fibonacci channel, it should reach $100,000 by December 2024 and $300,000 by August 2025. If it instead moves to more aggressive cycle patterns, it could reach those levels earlier. Much. Transaction opened: Many people message me every day and regret not contacting me earlier, they are tortured in daily transactions, many people lose all their money they could have used to get more money but they choose the wrong path, they think they can profit on their own, but The end result is always surprisingly similar. Accounts got burned again and again so, if you still have money in your account and want to recover all your losses and get more profits, you should contact me. I guarantee you that you will work with me for two days and you will love this place forever. I guarantee that there is no other trader in my life that can give you this feeling because it is the most authentic feedback. So don't let yourself live in regret, don't wait until you lose everything to contact me, then really no one can help you.