ChartArt

Predicting the next Bitcoin bubble with Fibonacci time zones

Long
BITSTAMP:BTCUSD   Bitcoin
Using Fibonacci time zones it is possible that the peak of the next Bitcoin bubble might occur after Fall 2014 and before Spring of 2015. The Gann fan shows that in order to make this forecast come true the price needs to start increasing by November 2014.

"Fibonacci Time Zones are vertical lines based on the Fibonacci Sequence. These lines extend along the X axis (date axis) as a mechanism to forecast reversals based on elapsed time. A major low or high is often chosen as the starting point. Distances start relatively small and grow as the Fibonacci Sequence extends. Chartists can extend the Fibonacci Time Zones into the future to anticipate potential reversal points."
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The red line is the cumulative Elastic Volume Weighted Moving Average (eVWMA). Which is "a statistical measure using the volume to define the period of the moving average. The eVWMA can be looked at as an approximation to the average price paid per Bitcoin. It can be approximated using cumulative sum of volume (...)"

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