@cdschultheis turned me on to using Tradinview's Fibonacci Retracement Tool to measure BTC's movement. He's got great analysis!
Logical Steps 1. A normal scale doesn't work with something moving at larger and larger intervals. You need to measure it with something that scales the same way BTC scales. - A great post is @LewisGlasgow 's post on it being Logarithmic - 2. Fibonacci is a way to measure Support and Resistance based on previous movements.
I had posted something before and would like to add to it. When drawing a Fib Retracement, the points must be drawn in a downward TREND. By doing it in this way, this method predicted the move to 16,600, and makes the entire system more accurate. - Previous Post steemit.com/bitcoin/@corganmusic/btc-crash-january-9th-2018
BTC may hit 5.618 or 6.618, DEPENDENT 1. How you draw it 2. The current cycle NOT becoming a trend. - If it does become a trend, you would just redraw the retracement.
Note: BTC does respect USD amounts - The movement at $10,000 is one brought about by the way investors (especially inexperienced) will put stop losses/take profits at whole numbers.