#MyFirstFeedPost Hello, Binance Square!

#Bitcoin on the monthly time frame:

Zoom out and consider the larger picture... The run up we have had this year is smaller than the one in 2019 from 3150 to 14000.

The 2019 rally took BTC to 70% of its previous ATH, before it dumped by 73% to 3800 during the COVID lockdown crash.

70% of the current ATH comes to just over 48-48.5k which is also around the 0.618 Fib (golden ratio).

If we correct by around 60-70% from there, we would go back to the 17-19k range which was where we were stuck in the second half of 2022.

But if we correct by just 38-40%, we will tag the range between 28800-30000. This is the same level as the May-Jul 2021 dump.

If we close this rally above 48.5k, then all of these calculations are irrelevant.

#NFA