I found an interesting thing........In trying to find underlying TA among BTC price crashes, I applied the FIBB time scale, starting with one of BTC's first major price crashes. I know there are examples of crashes prior to my first time marker but I chose a point after BTC had begun it's major price run-up. Anyways, the crashes after my chosen starting point are amazingly close to the FIBB time scale lines. IF this pattern continues then there should be another crash mid-May. I'm NOT saying it's gonna happen, I'm just pointing out what I think is a very interesting and potentially helpful bit of TA. Do with it what you will.
As always, I hope you come out with more than ya went in with!
As always, I hope you come out with more than ya went in with!
Note
So the window I expected the next Fibonacci time scale marker to fall within (May12th-May16th) seems to have happened on the 12th. There are a 2 more days to go in the window as I update this so we'll see if another drop occurs but I'm thinking the 12th may have been the day.
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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.