• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
bitcoin fibonacci
Sensei Inu Logo

The Fibonacci Sequence And Why $30K Bitcoin Is So Important

Tony "The Bull" by Tony "The Bull"
2 years ago
in BTC
Reading Time: 3 mins read

Bitcoin price action is still stuck at support, but unable to break it after repeated attempts. Throughout the asset’s history, after any support has been tested so many times, it ultimately breaks.

However, the Fibonacci sequence and a key mathematical level could explain why $30,000 is so critical to the cryptocurrency market cycle, and why even though it has been tested again and again, it very well could hold unlike past instances of sideways action. Here’s why.

Sideways Stalemate Ready To Break, But Which Way?

The crypto market is at a standstill, thanks to a shocking more than 50% collapse that wiped out trillions from the total market cap. Bitcoin, Ethereum, and other assets all plunged from highs within a month, and have been trading sideways since.

More downside is possible, as valuations ran wild though the start of 2021. But it is just as plausible at this point in time and given how severe the correction was that a recovery happens and upside resumes.

Related Reading | Crypto Cycle Calendar: Will Bitcoin Bottom Or Top This December 2021?

The indecision and lack of direction is the exact reason for the stalemate. However, there could be a theory steeped in math that helps make the potential outcome more clear.

1.618 Fibonacci extension is always important to this phase of the bull run. | Source: BTCUSD on TradingView.com

Why Fibonacci Could Decide The Fate Of The Bitcoin Bull Run

According to one prominent crypto analyst, in a detailed analysis with many layers, the $30,000 zone Bitcoin is especially important. The primary factor in this, is due to the level being the 1.618 Fibonacci extension of the former all-time high.

Basically, multiply $20,000 by 1.618 and the sum is the zone that must hold for the bull run to behave like past cycles. Not behaving exactly like past cycles doesn’t necessarily mean the magic has ended, but given the sample size there is no denying the importance.

Related Reading | Why The Next Bitcoin Bear Market Will Be The Worst Yet

After breaking out past each all-time high, Bitcoin rallies, then retraces back to the 1.618 Fibonacci extension. Fibonacci extensions and retracement levels are percentages based on the Fibonacci sequence – named after mathematician Leonardo Bonacci of Pisa.

It isn’t quite clear as to why these levels matter so much, but the numbers and related ratios appear to present in nearly all naturally occurring structures and things.

See the magic https://t.co/vlA8DiCn1Q

— Silvia (@silviainsydney9) July 14, 2021

Math is mysterious and complex, and one of the only complete truths in the world today. Math is why the likes of Paul Tudor Jones trusts Bitcoin so much – so why not trust this mathematical theory?

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is educational and should not be considered investment advice.

Featured image from iStockPhoto, Charts from TradingView.com
Tags: bitcoinbtcBTCUSDTcryptofibonaccifibonacci extensionsfibonacci sequencexbtxbtusd
Tweet123Share196ShareSend
Tony "The Bull"

Tony "The Bull"

Tony is the “always-on” Editorial Director and Head of Research at NewsBTC, leading a talented team of writers and editors across several different global time zones. Tony is also the founder of CoinChartist.io – an educational website focused on crypto trading. Partners include Elliott Wave International, TradingView, and more. Tony’s background includes an extensive, award-winning media production career and over fifteen years of publishing operations and management. In the past, Tony has founded several media websites and his content has been read billions of times. Past clients include the BBC, Fidelity, and many others. Tony "The Bull" is a level 3 CMT student (passed level 1 & 2), technical analyst, Bitcoin supporter, and avid speculator. He owns a python named Satoshi. Tony longs for the day when money is separated from the state. Tony is deeply fascinated by core market principles such as Elliott Wave Theory as they tie into mathematics like Fibonacci ratios. Market timing though DeMark indicators, Ichimoku, Gann tools, or Hurst Cycle Theory are also of key interest. Tony provides completely original content driven by exclusive, independent research. For more insights and education from Tony, check out his free TonyTradesBTC Telegram channel. Follow @TonyTheBullBTC on Twitter. You can also follow @CoinChartist_io on Twitter and subscribe on YouTube.

Related Posts

Bitcoin

Bitcoin Price Could See Recovery If It Holds This Key Support

12 hours ago
Bitcoin Price BTC

Bitcoin Price Turns Vulnerable As Indicators Point To More Weakness

2 days ago
Bitcoin

Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet

3 days ago
Bitcoin

Bitcoin Price Hints At Potential Correction, Buy The Dip?

6 days ago
Bitcoin

Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $27.5K

7 days ago
Bitcoin

Bitcoin Price Close Above $27,500 Could Spark Larger Degree Rally

1 week ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Solana Defies Price Fears, Bitcoin Spark Leads ICO...

    3 hours ago
  • Mercante Technologies to Launch AI-Powered Customer Support...

    4 hours ago
  • Expert Reviews Of IBKR vs eToro And The Promising Broker...

    9 hours ago
  • Meta Force by Lado Okhotnikov Launches SWAP: Secure and...

    22 hours ago
  • Solana Remains Stable, Bitcoin Cash, and Borroe.Finance...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.