From a historical perspective, Bitcoin always achieved 78.6% Fibonacci pullback before halving
From a historical perspective, Bitcoin always achieved 78.6% Fibonacci pullback before halving.
In the previous three cycles, this significant level was reached 4 months, 2 months, and 12 months before the halving, respectively.
Only seven months before the next half cut, Bitcoin is expected to reach $48700, in line with this model.
As a pioneer in the cryptocurrency world, Bitcoin is not unfamiliar with the drastic fluctuations and critical moments in prices. As we approach the next halving event, historical data suggests a potential bullish outlook: $48700.
$48700 before halving Bitcoin
Never in history has BTC reached 78.6% Fibonacci withdrawal level
Half reduction: In the first cycle, the price reaches this level 4 months before the half reduction;
The second cycle was two months ago;
The third cycle was 12 months ago;
There are still 7 months until the next halving. Bitcoin may reach 78.6% Fibonacci retracement during this period. It's $48700.
In the first cycle, this important Fibonacci level was reached four months before the halving. In the second cycle, Bitcoin reached this level two months ago, while in the third cycle, it was advanced by a full 12 months.
If we consider this trend, the mathematical results indicate that Bitcoin is about to reach its target of $48700 before the next halving, which is only 7 months away. This is completely in line with the current trend of the market.
However, although past performance and trends provide profound data, they cannot guarantee future results. The cryptocurrency market is volatile and influenced by various factors. Fans are always encouraged to conduct thorough research and consider multiple perspectives before making decisions.
In short, as the secretive community waits for the upcoming suffocating breath to halve, the magical number in the hearts of many enthusiasts will undoubtedly be $48700. Time will tell us whether history will repeat itself or whether new processes will emerge.
(Personal opinions do not constitute suggestions)
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