BTCUSD captive to this Fib since 7400: Bitcoin bottom at 2792 ??
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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:
.
Nota
A closeup of the relevance of these lines just now Nota
Nice, fib line at 3928 still very much in play Nota
Still relevant, but this line has been pierced a couple times now Nota
Continues to prove itself. If it falls below 3746 line, might be a fast drop to 3451 Nota
PING ... Nota
Red Alert errr GREEN Alert, line has been pierced Nota
Update on last pic, close up of rejection at that 6.618 Nota
Bulls are working to hold the 7.418 at 3746 Nota
Still quite bound to this fib but with some variances Nota
Sliced through the entire band in 10 minutes :( Now trapped below it Nota
Coming back to test the top of this band which bulls really need to hold, else get trapped within band again .
Nota
Back to fighting 3451.84 Nota
Still in control .
Nota
So we had a decent attempt to break above this band 7 .
Nota
wow, still under the influence of this fib .
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