Sequence

random

Bitcoin

Read

<ul> 
 <li>Bitcoin’s Monthly RSI has consistently followed a Fibonacci channel throughout its trading history.</li> 
 <li>This Fibonacci channel provides near-accurate predictions for Bitcoin’s market tops and bottoms.</li> 
 <li>The “Gray Lull” zone, below the 23.6% retracement level, serves as a preparatory ground for upcoming bull runs.</li> 
</ul> 
<p>The mystical world of Fibonacci sequences has always been thought to have a specific influence on various natural phenomena. Surprisingly, it also appears to hold sway over the financial markets, and notably, Bitcoin’s price action. A less-known yet striking revelation is that Bitcoin’s Monthly Relative Strength Index (RSI) has been following a Fibonacci channel since its inception.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The Fibonacci Sequence is present on more than just <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> price action<br><br>The Monthly RSI has remained inside a Fibonacci channel for its entire existence<br> <br>It has gotten very close to telling us when Bitcoin bottoms and tops, and also tells us… <a href="https://t.co/DiWV3aHioO">pic.twitter.com/DiWV3aHioO</a></p>— CryptoCon (@CryptoCon_) <a href="https://twitter.com/CryptoCon_/status/1695793648191823882?ref_src=twsrc%5Etfw">August 27, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>This Monthly RSI trend not only provides an in-depth view into market sentiment but also comes dangerously close to predicting Bitcoin’s tops and bottoms. The channel is divided into various zones, with the “Gray Lull” zone, situated below the 23.6% retracement level, being of particular interest.</p> 
<p>The Gray Lull is like Bitcoin’s bearish purgatory—a place where the price needs to serve its time before breaking into the next big bull run. For example, in 2019, Bitcoin made a valiant effort to break free from this Fibonacci channel but was inevitably pulled back to serve its time in the Gray Lull.</p> 
<p>As of now, it seems like Bitcoin is in this transitionary phase, serving its time before what could potentially be the next significant bull market. The alignment with the Fibonacci levels in the Monthly RSI provides compelling evidence that a change from bear to bull market conditions could be on the horizon.</p> 
<p>Why does this matter to you? Well, if you’re an investor, understanding this fascinating relationship between Bitcoin’s Monthly RSI and Fibonacci sequence could provide you with essential insights for timing your investment decisions. With a bull run appearing to be imminent, investors might consider positioning themselves strategically.</p> 
<p>In conclusion, the next few months could prove to be a pivotal time for Bitcoin and the broader <a href="https://cryptonewsland.com/massive-liquidity-approaching-crypto/">crypto market</a>. Will the Monthly RSI’s adherence to the Fibonacci sequence continue to provide prescient market indicators, or will we see a deviation from this historical trend? Either way, all eyes are glued on Bitcoin’s next move.</p> 
<h4 class="wp-block-heading" id="h-recommended-news">Recommended News :</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoin-rsi-makes-historic-low-despite-microstrategy-buy/">Bitcoin RSI Makes Historic Low Despite MicroStrategy Buy</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-eyes-50000-level/">Bitcoin Surges Above Monthly EMA 21 Line, Eyes $50,000 Level</a></li>
 <li><a href="https://cryptonewsland.com/bitcoins-historical-cycles-with-fibonacci-indicate-potential-surge-to-44k-48k-in-70-days/">Bitcoin’s Historical Cycles with Fibonacci Indicate Potential Surge to 44K-48K in 70 Days</a></li>
 <li><a href="https://cryptonewsland.com/glory-awaits-xrp-analysts-project-surge-to-10-and-beyond-to-124/">Glory Awaits XRP: Analysts Project Surge to $10 and Beyond to $124</a></li>
 <li><a href="https://cryptonewsland.com/xrp-adx-di-and-macd-cross-bullish-on-monthly-charts/">XRP ADX/DI and MACD Cross Bullish on Monthly Charts</a></li>
</ul> 
<p>The post <a rel="nofollow" href="https://cryptonewsland.com/bitcoins-monthly-rsi-and-the-fibonacci-sequence/">Bitcoin’s Monthly RSI and the Fibonacci Sequence: Predicting Market Turns</a> appeared first on <a rel="nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin’s Monthly RSI and the Fibonacci Sequence: Predicting Market Turns

Crypto News Land

Other articles published on Aug 28, 2023

The Game Changer: How Web3 Games are Revolutionizing Ownership and Education

7 Bitcoin ETF Deadlines Are Approaching In a Week: Here's When

Render Token Price Forecast 2023: Will RNDR Keep Falling Or Rise?

Ripple Holds Payment Licenses in 31 US States – Community Reacts

Pilah Pilih Dompet Crypto yang Aman

Bitcoin Flashing Signals of Being Calm Before the Storm; Analyst Predicts a Volatile Week Ahead!

Join our free newsletter for daily crypto updates!