Based off this last move up to currency levels there have been significant patterns that must be addressed in order to deduce a price change in BTCUSD.
Although this is a mess, these Fibonacci key numbers provide possible indication that there must be a change in price soon.
I must assume that this last large move up starting in March will play as our 100% zone.
Based on the Fibonacci time zone from march to june, a Fibonacci 2 is coming in contact with this current time in our trading. Combined with the trend based fib time (the coloured version) we see that the price has taken some bounces off of these levels before. I must mention these are “zones” and not prices to the day. We are currently completing the .618 time zone which is the most important Fibonacci number and could be an indication of price taking a large change.
Now to the retracement combined with the gann fan.
We can see that the gann fan outlines the current trend of this move upward and thus should be seen as significant. Combined with the retracement levels it is possible to see a move down to the .5 level of $2923, .382 level of $3401, or .236 of $3993.
I guess for now we will wait and see. Continue to buy bitcoin on the way down. #HODL
Although this is a mess, these Fibonacci key numbers provide possible indication that there must be a change in price soon.
I must assume that this last large move up starting in March will play as our 100% zone.
Based on the Fibonacci time zone from march to june, a Fibonacci 2 is coming in contact with this current time in our trading. Combined with the trend based fib time (the coloured version) we see that the price has taken some bounces off of these levels before. I must mention these are “zones” and not prices to the day. We are currently completing the .618 time zone which is the most important Fibonacci number and could be an indication of price taking a large change.
Now to the retracement combined with the gann fan.
We can see that the gann fan outlines the current trend of this move upward and thus should be seen as significant. Combined with the retracement levels it is possible to see a move down to the .5 level of $2923, .382 level of $3401, or .236 of $3993.
I guess for now we will wait and see. Continue to buy bitcoin on the way down. #HODL