Targeting $11.4K for #ETH in Next Cycle with Fibonacci
Based on my analysis, I have found that the current price action in the market is quite similar to that of the previous cycle, which leads me to believe that we are in the midst of another boom cycle. In line with this thinking, I expect to see a run up to at least the 1.618 Fibonacci level, much like we saw in the previous cycle.
To ensure an accurate measurement of the Fibonacci levels, I recommend using a line chart to identify unambiguous swings on the logarithmic chart. Using this approach, I have observed that the 1.1618 Fibonacci level marked the top of the market in 2021, and I believe it is likely to be the peak in 2025 as well.
It is worth noting that I previously measured the Fibonacci level incorrectly, and my previous prediction of 13.6k was slightly higher than the actual peak. While it is possible that the market may reach that level, I believe that the sell pressure around 11.4K will be too significant to overcome. Therefore, I anticipate that the market will likely peak around the 1.1618 Fibonacci level.
The 0.618 Fibonacci level, also known as the Golden Ratio or the Golden Mean, is significant for several reasons. The Golden Ratio is a mathematical relationship that occurs naturally in many phenomena, including the proportions of the human body, plant growth patterns, and even the shape of galaxies.
In finance and trading, the 0.618 Fibonacci level is significant because it is believed to be a key level of support and resistance . Traders use the Fibonacci sequence and the Golden Ratio to identify potential levels of support and resistance , which are areas where prices may reverse or stall. The 0.618 Fibonacci level is considered to be one of the most important levels of support and resistance , as it is often found to be a level where prices may bounce or reverse direction.
In addition to its significance in trading, the 0.618 Fibonacci level is also seen as a key level of aesthetic proportion and beauty in art and architecture. Many famous works of art and architecture, such as the Parthenon in Athens and Leonardo da Vinci's Vitruvian Man, are believed to have been designed using the Golden Ratio to achieve an aesthetically pleasing proportion.
Overall, the 0.618 Fibonacci level is significant for its mathematical and aesthetic properties, as well as its application in trading and finance.
To ensure an accurate measurement of the Fibonacci levels, I recommend using a line chart to identify unambiguous swings on the logarithmic chart. Using this approach, I have observed that the 1.1618 Fibonacci level marked the top of the market in 2021, and I believe it is likely to be the peak in 2025 as well.
It is worth noting that I previously measured the Fibonacci level incorrectly, and my previous prediction of 13.6k was slightly higher than the actual peak. While it is possible that the market may reach that level, I believe that the sell pressure around 11.4K will be too significant to overcome. Therefore, I anticipate that the market will likely peak around the 1.1618 Fibonacci level.
The 0.618 Fibonacci level, also known as the Golden Ratio or the Golden Mean, is significant for several reasons. The Golden Ratio is a mathematical relationship that occurs naturally in many phenomena, including the proportions of the human body, plant growth patterns, and even the shape of galaxies.
In finance and trading, the 0.618 Fibonacci level is significant because it is believed to be a key level of support and resistance . Traders use the Fibonacci sequence and the Golden Ratio to identify potential levels of support and resistance , which are areas where prices may reverse or stall. The 0.618 Fibonacci level is considered to be one of the most important levels of support and resistance , as it is often found to be a level where prices may bounce or reverse direction.
In addition to its significance in trading, the 0.618 Fibonacci level is also seen as a key level of aesthetic proportion and beauty in art and architecture. Many famous works of art and architecture, such as the Parthenon in Athens and Leonardo da Vinci's Vitruvian Man, are believed to have been designed using the Golden Ratio to achieve an aesthetically pleasing proportion.
Overall, the 0.618 Fibonacci level is significant for its mathematical and aesthetic properties, as well as its application in trading and finance.
*Not Financial Advice*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
