This fib externsion series has defined/guided Bitcoin's moves since 7400.
I have been watching this fib since that peak.
It's extensions have been part of all my Ideas posted since then.
Each line has been relevant so far, and if not yet, it will be on the way back up.
The bad news is that this type of fib series usually ends at the 9.618 extension.
We are clearly slowing in the downtrend, but I do not think we have bottomed yet.
As a matter of fact, that peak at 7400 was predicated by a 9.618, which I posted back then:
.
I have been watching this fib since that peak.
It's extensions have been part of all my Ideas posted since then.
Each line has been relevant so far, and if not yet, it will be on the way back up.
The bad news is that this type of fib series usually ends at the 9.618 extension.
We are clearly slowing in the downtrend, but I do not think we have bottomed yet.
As a matter of fact, that peak at 7400 was predicated by a 9.618, which I posted back then:
.
Note
A closeup of the relevance of these lines just now Note
Nice, fib line at 3928 still very much in play Note
Still relevant, but this line has been pierced a couple times now Note
Continues to prove itself. If it falls below 3746 line, might be a fast drop to 3451 Note
PING ... Note
Red Alert errr GREEN Alert, line has been pierced Note
Update on last pic, close up of rejection at that 6.618 Note
Bulls are working to hold the 7.418 at 3746 Note
Still quite bound to this fib but with some variances Note
Sliced through the entire band in 10 minutes :( Now trapped below it Note
Coming back to test the top of this band which bulls really need to hold, else get trapped within band again .
Note
Back to fighting 3451.84 Note
Still in control .
Note
So we had a decent attempt to break above this band 7 .
Note
wow, still under the influence of this fib .
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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.