One of the tools that I use the most for finding resistance and support levels are the Fibonacci. In this chart we can see that when the price reaches a number in the thousands that begins with a Fibonacci number, it immediately dumps. Normally, this has happened between 6-10% before reaching the FIB retracement levels shown in the chart. Interestingly, these pivot numbers have been accurate so far once the price has reached the FIB numbers in the thousands.
We just got to 13000. I expect a new correction about to come.
Previous dumps were:
- 40% for 3000. - 40% for 5000. - 20% for 8000. - (?) for 13000.
I expect the dump to reach 10300, 9000 or 7600, to have a bounce right after.
Is this a bigass pump for the futures that are starting Monday. I fee like the big whales are feeding BTC so they can have big gains come Monday when they start betting against BTC on future contracts.
nmmmnu
⋅
@leno1larios, can you elaborate about this? why CME need expensive Bitcoin?
We are not anymore in a "channel" mode, we are in a parabola. try to draw channels on smaller frames and you'll see for a channel to another the angles increase of each channel up (the overall forming a parabola) ! - BL.
CoinMajesty
⋅
@Bingolion, Totally. That's what I'm mapping with the 3min view and micro timeframes.