Bitcoin’s record-breaking week closed at $123,515, with bulls dominating. Fibonacci extensions point to $131,000 as the next resistance, while $118,000 holds as key support.
The Golden Ratio Multiplier, a Bitcoin-specific indicator created by Philip Swift, highlights $100,000 as a critical resistance level. This analysis explores how Fibonacci multiples of the 350-day moving average provide key insights into Bitcoin's price cycles, with $127,000 emerging as the next major target if this barrier is broken.
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