Bitcoin’s (BTC) price cycle continues to gain traction, with analysts pointing to optimistic projections for its peak in this market cycle.
Notably, a recent analysis by TradingShot highlights the cryptocurrency’s consistent alignment with Fibonacci extensions, suggesting a minimum peak of $185,000.
This optimistic prediction is grounded in applying Fibonacci extensions to Bitcoin’s market cycles, with a focus on the 5.0 Fibonacci level, which has historically marked cycle tops.
Historical patterns and Fibonacci extensions
TradingShot’s approach measures Fibonacci extensions from the cycle’s bottom to the point where Bitcoin first makes contact with the 50-week moving average (MA50). This approach has consistently predicted Bitcoin’s peak levels across past cycles.
Bitcoin price analysis chart. Source: TradingShot/ TradingView
For instance, in 2013, 2017, and 2021, Bitcoin reached or exceeded the 5.0 Fibonacci level, which has become a reliable marker f
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