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Bitcoin still trads around USD 103,000, although the rush of growth, which he started in May showed a slowdown Over the past seven days. Though compact -term variability Currently, long -term prospects are undoubtedly stubborn.
Some analysts are looking for Long -term cycle indicators for the direction. One such tool, a golden coefficient multiplier, which he called Top Bitcoin in 2021, returned to the next intriguing top for the current bitcoin cycle.
A multiplier of the golden coefficient identified 2021, now indicates the recent peak
Admission to Publish on the social media platform x, The popular Cryptocon cryptocurrency analyst emphasized the reliability of the Golden Multi -Bitcoin price multiplier in each cycle. The golden coefficient multiply
In particular, this record was one of the few, who will accurately call the cycle of April 2021 in real time, just like at the top of 2017 and 2013. In this cycle, the model was already marked with a significant peak in March 2024, although the cryptographic analyst interpreted it not as the final high, but as medium.
Cryptocon explained that Bitcoin’s price has already reached the level 4 of the multiplier chart in this cycle, but this is not the last peak. “Once we hit our highest level of the cycle once, but it was for the cycle in half in March 2024, which means that we will certainly do it again,” he said.
The level 5 team is currently around USD 160,000 and is still training up. Cryptocon, drawing parallel to past cycles, noticed that the structure of the current cycle shows robust similarities to the 2015-2017 period, when Bitcoin noticed a gradual accumulation and then an explosion.
Based on this comparison, the current market phase is seen as equivalent to April 2017, Just before Bitcoin, he went to the rally in the following months.
The golden multiplier indicator suggests that USD 160,000 is the next main goal
The chart accompanying Post Cryptocon paints a well -known image with a golden multiplic relationship. Each band, from level 1 to level 10, is based on the multiplier level obtained from the 350-day movable average. Bitcoin surpassed at different levels: level 10 in 2011, level 9 and 8 in 2013, level 7 in 2017 and level 6 in 2021. The indirect cycle should most likely be level 5, but bitcoins The price has not yet arrived there.
If the market still respects this structure, Bitcoin can prepare for the rally towards mark 5 in the amount of USD 160,000 later, which may mean the final level of this cycle. The current range of approximately USD 103,000 may be Peace before the last breakthrough. “Slower accumulation and then immediately,” said the analyst.
At the time of writing, Bitcoin traded for USD 102,971.
A distinguished picture from Unsplash, TradingView chart
