BitcoinLong
Bitcoin: $13,200 on August 29, 2019
The long term chart on top has a Fibonacci graphic with 1.00 at the genesis of the 2017 bull run, which was around January 2015 @ $197. It ends at the peak of the 2017 bull run around $19,800 in December 2017.
The recent impulse to $13,800 established a resistance level around $13,200, which happens to be 23.6% on the Fibonacci graphic. From June to July 2019, the price established another support/resistance around $10,750, which happens to be 38.2% on the Fibonacci graphic. As of August 2, 2019, the price is crawling just below the 38.2% level at around $10,500.
In the shorter term chart on the bottom, a parabola was created from the peak in June at $13,800 to the point where the downward trend reversed in July at $9100.
Prophecy:
The reflected side of the parabola predicts Bitcoin once again reaching the resistance level of $13,200 on August 29, 2019.
August 29, 2019 @ $13,200
The recent impulse to $13,800 established a resistance level around $13,200, which happens to be 23.6% on the Fibonacci graphic. From June to July 2019, the price established another support/resistance around $10,750, which happens to be 38.2% on the Fibonacci graphic. As of August 2, 2019, the price is crawling just below the 38.2% level at around $10,500.
In the shorter term chart on the bottom, a parabola was created from the peak in June at $13,800 to the point where the downward trend reversed in July at $9100.
Prophecy:
The reflected side of the parabola predicts Bitcoin once again reaching the resistance level of $13,200 on August 29, 2019.
August 29, 2019 @ $13,200
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