BitcoinLong
Fractals Measurements
Updated
everyone is talking about this fractal move on bitcoin. i want to give you measurements of how far we can go or it's already done.
i putted a fib retracement tool to just measure the ratio between swing high to lowest point of the fractal triangle. i realised that bitcoin move down from 5800$ to 3150$ is 19% of it's move from ATH to the bottom of the 2018 triangle as you can see on the chart.
Now in smaller triangle of 2019 i did the same thing. guess what? we reversed almost from 19% of the move. same thing as 2018.
every fractal will end some day. so to be bearish i need to see bitcoin below 7700$.
i putted a fib retracement tool to just measure the ratio between swing high to lowest point of the fractal triangle. i realised that bitcoin move down from 5800$ to 3150$ is 19% of it's move from ATH to the bottom of the 2018 triangle as you can see on the chart.
Now in smaller triangle of 2019 i did the same thing. guess what? we reversed almost from 19% of the move. same thing as 2018.
every fractal will end some day. so to be bearish i need to see bitcoin below 7700$.
Note
It is so beautiful to see these ratio's show a lot of significance.Fib retracement from the bottom of jan 2015 to the ATH you can see bull run started when we broke 78.6% fib level we found support at 61.8% and we stopped almost at 38.2%. the only thing that is matters right now is :
7651$ is an important price level for bitcoin if we break this level i'm bearish if we bounce i'm extremely bullish.
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