{"id":504371,"date":"2022-09-29T20:21:24","date_gmt":"2022-09-29T20:21:24","guid":{"rendered":"https:\/\/wncen.com\/?p=504371"},"modified":"2024-06-11T14:26:52","modified_gmt":"2024-06-11T14:26:52","slug":"bitcoin-golden-ratio-bottom-btcusd","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-golden-ratio-bottom-btcusd\/","title":{"rendered":"Bitcoin And The Golden Ratio Bottom | BTCUSD Analysis September 29, 2022"},"content":{"rendered":"<p>In this episode of NewsBTC&#8217;s <a href=\"https:\/\/www.youtube.com\/watch?v=VXfyLKxyCCw&amp;list=PLcOfhdUALFaOXvxuoWoCWZoYXc7iq-brg\" target=\"_blank\" rel=\"noopener nofollow\">daily technical analysis videos<\/a>, we examine how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory.<\/p>\n<p>Take a look at the video below:<\/p>\n<div class=\"related-reading-shortcode\">\n<h2>VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0September 29, 2022<\/h2>\n<\/div>\n<div class=\"related-reading-shortcode\">\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">Using the Fibonacci retracement tool not for retracement but for extensions, we have found a golden discovery using math.<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<\/div>\n<div>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-global-currency-meltdown-btcusd\/\">Bitcoin &amp; The Global Currency Meltdown | BTCUSD September 28, 2022<\/a><\/div>\n<\/div>\n<h3>Did Bitcoin Bottom At The Golden Ratio?<\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">In <a href=\"https:\/\/wncen.com\/news\/bitcoin\/elliott-wave-altcoin-bitcoin-dominance\/\">Elliott Wave Theory<\/a>, corrections come in ABC patterns. Taking the Fibonacci retracement tool to draw from the bottom to the top of the A wave will provide a Fibonacci extension target for where a C wave correction might end. The wick down to $17K touched precisely at the 1.618 Fibonacci with pinpoint accuracy.<\/span><\/p>\n<p>1.618 is the golden ratio, also known as the divine proportion.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-504378 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-29_15-54-13.png?resize=860%2C478\" alt=\"BTCUSD_2022-09-29_15-54-13\" width=\"860\" height=\"478\"><\/p>\n<pre style=\"text-align: center\">Bitcoin downtrend stops at precisely the golden ratio | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<h3>Past Bear Market Bottoms Pinpointed With Golden Accuracy<\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">Shocked by this discovery, we used the same strategy to examine the 2018 bear market. Lo and behold, the target terminated at the <a href=\"https:\/\/wncen.com\/analysis\/btc\/fibonacci-bitcoin-golden-ratio-2021\/\">golden ratio<\/a> yet again.\u00a0<\/span><span style=\"font-weight: 400\">To demonstrate this, we have drawn in the B wave descending triangle, and taken the Fibonacci extension from the bottom of the A wave to the top where it began. As you can see, this projected the bear market bottom perfectly.<\/span><\/p>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">Zooming out further, could this really have happened in the 2015 bear market also? Adding yet another ABC correction, the same pattern fits, albeit not quite as precisely at the rest of the analysis. Still, its accurate enough where the golden ratio could clearly be a factor in where Bitcoin ultimately bottoms.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-504377 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-29_15-58-17.png?resize=860%2C478\" alt=\"BTCUSD_2022-09-29_15-58-17\" width=\"860\" height=\"478\"><\/p>\n<div class=\"related-reading-shortcode\">\n<pre style=\"text-align: center\">Bitcoin has bottomed at the golden ratio in each bear market | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-green-october-btcusd-september-27-2022\/\">Bitcoin &amp; The Hunt For A Green October | BTCUSD September 27, 2022<\/a><\/p>\n<\/div>\n<h3>Could Fibonacci Project The Next Major Peak In Crypto?<\/h3>\n<h3><span style=\"color: #333333;font-size: 15px\">We now know that projecting extensions from the A wave gives us the C wave bottom&#8230; hopefully. But how does this work when projecting a target to the upside? Drawing from the 2017 peak to the bear market bottom, projected the top of the 2021 bull market.<\/span><\/h3>\n<p style=\"font-weight: 400\"><span style=\"font-weight: 400\">If the same is true for the next bull market, much like each bear market has repeated, the golden ratio could take Bitcoin to a price of more than $161,000 per coin.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-504376 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-29_15-59-21.png?resize=860%2C478\" alt=\"BTCUSD_2022-09-29_15-59-21\" width=\"860\" height=\"478\"><\/p>\n<div class=\"related-reading-shortcode\">\n<pre style=\"text-align: center\">The next Bitcoin peak could be over $161,000 per coin | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<\/div>\n<div class=\"related-reading-shortcode\">\n<p>Learn crypto technical analysis yourself with the NewsBTC Trading Course. <a href=\"https:\/\/wncen.com\/trading-courses\/\">Click here<\/a> to access the free educational program.<\/p>\n<p>https:\/\/twitter.com\/tonyspilotroBTC\/status\/37275137<\/p>\n<p><b><i>Follow <\/i><\/b><a href=\"https:\/\/twitter.com\/tonyspilotroBTC\" rel=\"nofollow\"><b><i>@TonySpilotroBTC on Twitter<\/i><\/b><\/a><b><i> or join\u00a0<\/i><\/b><a href=\"https:\/\/t.me\/TonyTradesBTC\" rel=\"nofollow\"><b><i>the TonyTradesBTC Telegram<\/i><\/b><\/a><b><i> for exclusive daily market insights and technical analysis education<\/i><\/b><b><i>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n<pre>Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this episode of NewsBTC&#8217;s daily technical analysis videos, we examine how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD):\u00a0September 29, 2022 Using the Fibonacci retracement tool not for retracement but for extensions, we have found a golden discovery using math. Related Reading: Bitcoin &amp; The Global Currency Meltdown | BTCUSD September 28, 2022 Did Bitcoin Bottom At The Golden Ratio? In Elliott Wave Theory, corrections come in ABC patterns. Taking the Fibonacci retracement tool to draw from the bottom to the top of the A wave will provide a Fibonacci extension target for where a C wave correction might end. The wick down to $17K touched precisely at the 1.618 Fibonacci with pinpoint accuracy. 1.618 is the golden ratio, also known as the divine proportion. Bitcoin downtrend stops at precisely the golden ratio | Source: BTCUSD on TradingView.com Past Bear Market Bottoms Pinpointed With Golden Accuracy Shocked by this discovery, we used the same strategy to examine the 2018 bear market. Lo and behold, the target terminated at the golden ratio yet again.\u00a0To demonstrate this, we have drawn in the B wave descending triangle, and taken the Fibonacci extension from the bottom of the A wave to the top where it began. As you can see, this projected the bear market bottom perfectly. Zooming out further, could this really have happened in the 2015 bear market also? Adding yet another ABC correction, the same pattern fits, albeit not quite as precisely at the rest of the analysis. Still, its accurate enough where the golden ratio could clearly be a factor in where Bitcoin ultimately bottoms. Bitcoin has bottomed at the golden ratio in each bear market | Source: BTCUSD on TradingView.com Related Reading: Bitcoin &amp; The Hunt For A Green October | BTCUSD September 27, 2022 Could Fibonacci Project The Next Major Peak In Crypto? We now know that projecting extensions from the A wave gives us the C wave bottom&#8230; hopefully. But how does this work when projecting a target to the upside? Drawing from the 2017 peak to the bear market bottom, projected the top of the 2021 bull market. If the same is true for the next bull market, much like each bear market has repeated, the golden ratio could take Bitcoin to a price of more than $161,000 per coin.\u00a0 The next Bitcoin peak could be over $161,000 per coin | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. https:\/\/twitter.com\/tonyspilotroBTC\/status\/37275137 Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":504373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,4524,76835],"class_list":["post-504371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price And The Golden Ratio Bottom<\/title>\n<meta name=\"description\" content=\"NewsBTC examines how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/bitcoin-golden-ratio-bottom-btcusd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price And The Golden Ratio Bottom\" \/>\n<meta property=\"og:description\" content=\"NewsBTC examines how Bitcoin might have bottomed precisely at the 1.618 Fibonacci extension, using Elliott Wave Theory.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-golden-ratio-bottom-btcusd\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-29T20:21:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T14:26:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/the-golden-section-ratio-of-spiral-staircae-picture-id174964667.jpg?fit=1024%2C682\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"682\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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