BTC’s Long-Term Harmonics & Wave Synergy

Over time I full heatedly believe what my technical studies continue to reveal again and again. The numbers of the Fibonacci sequence and in turn so do Elliot Wave Theory principles are not expressed more clearly and abundantly on any other traded stock or commodity as on a chart of Bitcoin futures via the CME.

The short answer for why I believe this occurs is simple. Both of the above mentioned “principles” are so intrinsic to the human viewpoint which in itself adheres to all the living things on earth. You could find Fibonacci’s sequence by looking at a part of a tree, shell or your hand and the relationship to other parts of that same whole being. That’s why your foot is the same exact sizes as your fore arm no matter how old, what your ethnic background or your lifestyle may be. Wave theory works in the same way it is in everything mankind observes. That is why I believe Bitcoin follows these innately human “Earthly” measures more so than all others, because it is based purely on the human psyche and the lens in which we view the world.

In our first chart we have drawn in BTC’s descending top as a red dashed line. It matches up almost exactly with a projected lateral pattern from the “Auto Wave” feature. Not only does the descending top line up almost perfectly parallel but its percentage decline (28%)  as well as the pattern projection (within 2% of 61.8) are both key Fibonacci numbers one example of the fractals and harmonics rampant in BTC.

On our third chart we have three different Fibonacci retracements two that start from the highs of 2019 and one from the 2020 highs. Not so surprisingly they all have at least one significant harmonic relationship. From these synchronicities we can differ that Bitcoin futures has strong support at approximately $9,200. As long as this level holds and we surpass $10,000 next stop would be $14,150.