AB=CD Fibonaci pattern Blok gonna pump!
We see AB=CD pattern at daily chart with Decreasing volume . We find support at 0.618 fibonacci level to find C.
The bearish AB = CD is a Fibonacci based pattern, meaning Fibonacci ratios determine the turning points. Formula: D = (B – C)/ Ratio + C=(0.178-0.058)/0.618+0.058=0.25217$
How often does price reach or exceed D? 95% of the time.One of the best performing strategies. 57% of the time price goes more than the D target.
AB is 25 days so CD should be in perfect pattern execution also around 25days which is 7th December 2021. This could differ greatly also like D price. But we are with 95% security going to at least 0.25217$.
Also golden cross on MACD will happen next few days.
Mega bullish on BTC!
Bulkowski, Thomas N.. Encyclopedia of Chart Patterns (Wiley Trading) (Kindle Location 3643). Wiley. Kindle Edition.
The bearish AB = CD is a Fibonacci based pattern, meaning Fibonacci ratios determine the turning points. Formula: D = (B – C)/ Ratio + C=(0.178-0.058)/0.618+0.058=0.25217$
How often does price reach or exceed D? 95% of the time.One of the best performing strategies. 57% of the time price goes more than the D target.
AB is 25 days so CD should be in perfect pattern execution also around 25days which is 7th December 2021. This could differ greatly also like D price. But we are with 95% security going to at least 0.25217$.
Also golden cross on MACD will happen next few days.
Mega bullish on BTC!
Bulkowski, Thomas N.. Encyclopedia of Chart Patterns (Wiley Trading) (Kindle Location 3643). Wiley. Kindle Edition.
Comment:
Now golden cross on MACD happens. Also good entry point!