Bitcoin Fib Estimation II
In this idea I'll document my further observation of long-term price action
The way 0.236 first fibonacci channel defined 2021 ATH
Critical points of prior cycles were also captured by fibonacci channels of same tool.
Significance of second Fibonacci channel is also apparent because it also breaks down historic cycles.
This means that correlation of prices with its derived fibonacci ratios has been occurring over a decade period long.
2012 - 2015 cycle can be measures with 0 - 1 based on direction of the fall of 93.75% where n.618 defined ATHs.
Another way of presenting how price maintains golden rule would be using the metrics of first bullish wave.
Shows exactly how fibonacci channels split up historic cycles into component phases.
For now I see 2 options of LT price movements in respect to whole history:
A squeeze into a triangular formation OR a sooner breakout
The way 0.236 first fibonacci channel defined 2021 ATH
Critical points of prior cycles were also captured by fibonacci channels of same tool.
Significance of second Fibonacci channel is also apparent because it also breaks down historic cycles.
This means that correlation of prices with its derived fibonacci ratios has been occurring over a decade period long.
2012 - 2015 cycle can be measures with 0 - 1 based on direction of the fall of 93.75% where n.618 defined ATHs.
Another way of presenting how price maintains golden rule would be using the metrics of first bullish wave.
Shows exactly how fibonacci channels split up historic cycles into component phases.
For now I see 2 options of LT price movements in respect to whole history:
A squeeze into a triangular formation OR a sooner breakout
Penafian
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