Bitcoin surged to an incredible $122,056 by the close of trading on August 11, once again challenging the key resistance level of the world’s leading cryptocurrency. But this isn’t just any number—this is the Fibonacci 1.618% extension, known as the "golden ratio" in technical analysis.
The golden ratio originates from two major market bottoms: the 2018 bear market low and the 2022 bear market low. For those who have tracked Bitcoin through various cycles, these timeframes mark the darkest periods in the history of the cryptocurrency market.
In my view, Bitcoin surpassing new highs is just a matter of time after a month of accumulation. I’ve witnessed strong ETF inflows, more companies buying Bitcoin, and positive remarks from the White House.
While Bitcoin struggles with resistance, Ethereum is on a completely different trajectory. According to TradingView data, ETH has tripled from $1,435 in April to its current price of $4,315.
Bitcoin’s volatility is still near all-time lows, while Ethereum has seen a significant increase. Just a month ago, the market predicted a 5% chance for Ethereum to reach $4,500 in August, but now everything has changed.
Many traders are betting on ETH revisiting its all-time high.
The simultaneous price surge of Bitcoin and Ethereum has pushed the total cryptocurrency market cap to a new record high of $4.14 trillion. This number reflects the strong recovery of the entire blockchain industry after a challenging phase.
With the strong rally this weekend, we expect Bitcoin and Ethereum prices to continue rising, unless there are any tariff shocks.
Will Bitcoin break through and challenge its all-time high? Stay tuned!
The golden ratio originates from two major market bottoms: the 2018 bear market low and the 2022 bear market low. For those who have tracked Bitcoin through various cycles, these timeframes mark the darkest periods in the history of the cryptocurrency market.
In my view, Bitcoin surpassing new highs is just a matter of time after a month of accumulation. I’ve witnessed strong ETF inflows, more companies buying Bitcoin, and positive remarks from the White House.
While Bitcoin struggles with resistance, Ethereum is on a completely different trajectory. According to TradingView data, ETH has tripled from $1,435 in April to its current price of $4,315.
Bitcoin’s volatility is still near all-time lows, while Ethereum has seen a significant increase. Just a month ago, the market predicted a 5% chance for Ethereum to reach $4,500 in August, but now everything has changed.
Many traders are betting on ETH revisiting its all-time high.
The simultaneous price surge of Bitcoin and Ethereum has pushed the total cryptocurrency market cap to a new record high of $4.14 trillion. This number reflects the strong recovery of the entire blockchain industry after a challenging phase.
With the strong rally this weekend, we expect Bitcoin and Ethereum prices to continue rising, unless there are any tariff shocks.
Will Bitcoin break through and challenge its all-time high? Stay tuned!
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✅ Receive 7–10 high-quality signals daily for Forex, Gold, and Bitcoin
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
✅ Fast updates, accurate alerts
✅ Suitable for both beginners and experienced traders
👉 Join now by clicking this link:
t.me/+6v7LMJO7cI04Nzg1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.