Bitcoin Will Fail To Reach A New All Time High Next Bullish Cycle Here Is Why

Bitcoin hitting a new all time high, it’s not guaranteed as for it to be able to do this there are some resistance levels which it needs to overcome some certain resistance levels.

source

In a YouTube session with he’s subscribers he went on saying that the primary digital assets needs to reach a key Fibonacci retracement level, in he’s words;

“Can Bitcoin hit a new all-time high in the next bull market cycle? So, looking specifically at Bitcoin and Bitcoin only, not at ETH [Ethereum], not other cryptocurrencies, we need to see Bitcoin get back above $34,500.

Why? Well, that’s the 50% [Fibonacci] level from the all-time high to the all-time low. And for Bitcoin, the all-time low is basically zero. So $34,500 needs to be overcome.

Bitcoin also needs to take out its monthly swing tops to show that buyers are coming back into the market. That is going to be a major confirmation point for the macro players…

Once that occurs then there’s a pretty strong case of Bitcoin hitting that new all-time high.

For now, we can’t say that it will hit a new all-time high. What’s happened in the past is it’s always hit a new all-time high.”

If you see this post on a Web2 ecosystem and you have no clue about what Leofinance is here is a brief definition;

LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link

Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.

Let’s also connect on some of the web2 platform.
Twitter:Hironakamura

Posted Using LeoFinance ^Beta