Bitcoin Fibonacci projection

31 thg 10, 2013

Price ran up and made a beautiful retracement down to the 61%(body) 50%(wick) level. As a rule of thumb (read higher probability! not certainty) If price retraces to 50.0% or 61.8% more often than not, price will go to 161.8%. In this chart that would give us a projection of price up to $291 per Bitcoin