Injective Protocol is somehow following Fibonacci patterns precisely while in Price Discovery. What manipulation?!
Anyways, what we had with rise 1, was a drop to the 61.8% line, pretty much on the dot. This bounced hard and hit the exact point of 1.618%.
On the way down, this also hit the 61.8% almost exactly on the head (weird).
So, here we are, about to take a dip, and I am guessing it will end up at the 61.8% line again. However, I have noted this miay not be the end of the channel. The 2nd wave is usually the longest, so this may extend to the 2.618% line. We can redraw if need be.
Bullish Development, 100%
Anyways, what we had with rise 1, was a drop to the 61.8% line, pretty much on the dot. This bounced hard and hit the exact point of 1.618%.
On the way down, this also hit the 61.8% almost exactly on the head (weird).
So, here we are, about to take a dip, and I am guessing it will end up at the 61.8% line again. However, I have noted this miay not be the end of the channel. The 2nd wave is usually the longest, so this may extend to the 2.618% line. We can redraw if need be.
Bullish Development, 100%
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.