In short, here's how to read this chart
- When Bitcoin grows, it has no future , so we're using the Fib tool to draw it
- Price has a good probability of hitting a line we've drawn and bouncing down
- If price shoots through the line we've drawn, we ignore it - We're looking for confirmation
- Once we have a significant trend, we can redraw the pattern as we did in the post!
Note: Always draw on your own chart, and ALWAYS look for confirmation and that the CLOSES!
You're welcome to repost and share this analysis with credit due!
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Click the chart below to watch BTC hit the retracement twice!