Possible Fib Circle Confluence for BTC top

19 Mar 2021

Long, medium, and short time frame fib circles show that we may be at a pivot point. In recent run-up since last march we have rocketed through these points to new highs, but BTC seems exhausted with volume falling off. Whether we pivot or not should be apparent by the end of march when volume spikes. Circles are freshly drawn, so they may be off by a tiny bit.

If there ends up being a sell off, a pull back to ~47,500 (or lower as indicated by red lines + boxed region) could be possible.

Upper targets are ~70k.

A lot of charts show btc going exponential forever (1 million+), but pumping btc should be more expensive now - making parabolic pumps more difficult to achieve. There are more coins and each coin cost much more than previous parabolic runs, which makes it a lot more expensive to bid up the price. Additionally, I am not sure if a higher price than 60k is attractive to new or current buyers, but that is just speculation.

TLDR: Big move by end of march. Target 47.5k, possibly lower. Upside break would likely be around 70k.