BTCUSDT - Are we seeing a fractal repeat of March?
I was looking at the BTCUSD chart earlier and I noticed a similarity between the last 2 big moves. You can see each part on the chart.
I took the bars pattern tool and applied it to the first bottom and the last bottom. I then scaled it to match the size of the most recent move and overlayed it and... it fits pretty well. And look where it ends? Right on the trendline.
To make it even stranger, 122 bars is almost a 0.618 retracement of 198. 122/198 = 0.616
298*0.618 = 122.364
And of course, the first run up retraced
by 0.605.
Spooky...
I'm not sure if this will play out but it will be cool if it does. Let me know what you think!
Happy trading:)
P.s. I'd love to learn more about this stuff but if I google fractals I only get Williams fractals. Please point me in the right direction if you have any resources, thx
n.b. I reposted this after changing some things slightly expecting to be able to delete the old idea... but I can't delete old posts. Wtf TV
I took the bars pattern tool and applied it to the first bottom and the last bottom. I then scaled it to match the size of the most recent move and overlayed it and... it fits pretty well. And look where it ends? Right on the trendline.
To make it even stranger, 122 bars is almost a 0.618 retracement of 198. 122/198 = 0.616
298*0.618 = 122.364
And of course, the first run up retraced
by 0.605.
Spooky...
I'm not sure if this will play out but it will be cool if it does. Let me know what you think!
Happy trading:)
P.s. I'd love to learn more about this stuff but if I google fractals I only get Williams fractals. Please point me in the right direction if you have any resources, thx
n.b. I reposted this after changing some things slightly expecting to be able to delete the old idea... but I can't delete old posts. Wtf TV
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