Method focused on extension levels only, as future projected zone of resistance or support as it has proven in the past.
Method used to place Fibonacci was by: point A 0% being at lowest of "Same Pattern" to the next nearest high Point B 100% of next candle, Likewise on our days from the lowest day low to the next day high.
Assumption (Based on past): Once current 600% Fib ($10,500) is crossed up it will rally up to $48,400 (6,180%) Fibonacci. If price moves are based on days, by November 2018 the rally will have been fulfilled. Otherwise if price ranges between 5,500 and 6500, Bitcoin is doomed to $4,000 for a couple years. I think I haven't missed a point to make so this is now published. It is because I see so many speculations: maybe this maybe that, 'be careful, (I don't know what's going on)' 'We are still bearish' 'This is the start of a trend'...
Look at the big picture.
Bình luận
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Revised Bitcoin Stance Overall: Bitcoin's last gasp for air $12,000 Change in opinion due to higher time frame studies, and on a market sentiment indicator.
The recover wont take 3 years like it did after the 2014 crash. Market cap is so much larger now recovery should only take a year to reach ATH
BRRD
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@mboody1980, what's the logic behind that? Seems to me the opposite is more likely (moves will take longer and longer with increasing market cap).
YardleyRosette
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@BRRD, Increase in market cap shows correlation to increase in Bitcoin price, therefore opining the opposite would instead seem illogical.
You23
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One could expect the log trend curve to taper as time progresses. Will be interesting to see what occurs.
golemcan
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In terms of this fractal to play out, to which point the BTC should hold up in a flash crash to guarantee a reversal? As per my understanding, your "death zone" is between 5.5-6.5, which is being tested as of right now. So to which scale do you think we can avoid sh.tting to bed? :) Many thanks in advance.
YardleyRosette
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@golemcan, It's only testing for now, not ranging within the aforementioned price zone. Bitcoin should not tear through the upper channel trendline or it is really risking the same destiny of 2014.
BGMind_Control
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This is like saying orange is blue. Doesn't mean anything. You just seeing bullish charts because you want BTC to go to 50k. You prolly thinking it will happen the next 3 4 months.
YardleyRosette
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1) Improper grammar. 2) I see what you see, the difference is that I use the tools provided by tradingview which gives the result you see rather than drawing custom lines of speculation of possible scenarios 3) Orange is not blue, being a figure of speech, I can't give much merit to the comment of it being otherwise. The fact is orange stays orange unless acquiring a tint of another color. Pure orange stays orange, as blue stays blue no matter if someone else changes his opinion. Nonetheless, time proves true a well set strategy in trading.
YardleyRosette
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Elaborating on the color orange getting a half tint of blue will become brown. Otherwise what we know as greenish blue... etc.