Timescale Fibonacci helps you not only map by and see levels on the y axis, but also on the x-axis. Time cannot be ignored. The similarities so far are uncanny. 0.382 fib was the approximate top, previous cycle and this. This cycle BTC topped first on the 0.25 fib. Then the final higher-high of ~69,000$ on the 0.382 .. Bitcoin also bottomed out around the...
Thinking echo bubble top plays out similar to previous cycle.. No guarantees of course.. My upside target is 45-48k my may/july this year.. As you can see, fib speed fan 0.75, 0.618 horizontal fib, and 0.75 time based fib all intersect and mark the local top. The 0.5 is positioned where the bottom formed. The exact amount of time that it took from the 2017...
I got a scratching in my head again when looking at the ETHBTC chart and it was beginning to resemble the bitcoin chart and a bit more tinkering has resulted in this post. I see myself doing a couple of editions of this basic concept over the next couple of days. The fib levels show that BTCUSD had a more powerful move as BTC was able to reach the 0.786 Fib...
I follow some choice crypto trading youtube videos and I feel deeply that many of them are failing us. Fundamental concept for price action: when resistance and support flip be prepared for a powerful move. A trend reversal. One prefered trader covered this concept this week, but instead of looking at a multi-year trend they are looking at a month long...