Trader Monke
Trader Monke 1 minutes reading from Bitcoin

4 Reasons Why $10k Bitcoin Will Bottom at $10,000 This Cycle

4 Reasons why I believe BTC will bottom around 10,000 this cycle 🧵

Bitcoin BTC

1) What

2) The Trend-Based Fib Extension drawn from "April 2021 high" to "June 2021 low" to "November 2021 high" gives the following levels. With the 1.618 and 1.65 fib levels coming in at 9,347.5 and 10,508

3) There are 3 CME gaps below us (marked in red) from 11,470 down to 9,675 BTC1!

4) We are back in the range of the 2017 high cycle, and currently bounced off at the 0.75. I expect to visit the mid range at minimum which sits at 11,758

This post is based on this twitter thread.

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