Trying to find out where the next major time resistance zones may lie by using the break below 6k, and the break above 5k for the time fibo measurement. The 1.618 trendline falls precicely on the local high (end of June), also the 1.272 falls on the candle that broke above 6k. This makes me beleive the next time fibonacci trendlines will play a role in bitcoin's future market cycles. The regular fibonacci and fibonacci fan should also indicate support and resistance levels.
Not an expert, not financial advise.
Biffy
Not an expert, not financial advise.
Biffy
Comment:
another fibonacci anlysis pointing towards time resistance on 25/09/2019 i expect this consolidation cycle to end around this time
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wasn't far off on the first time resistance iceberg, more evidence that the next fibonacci lines should also play a role in the future market cycles
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interesting price action, i beleive the next level will still be valid but i have adjusted the fib slightly to show that the next time resistance may arrive earlier than expected (due to the massive iceberg btc just hit)
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i think it would now be fair to add a descending fan
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A quick, short term update
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next time resistance approaching :)
