filbfilb

Fibonacci Knows When Bitcoin Muhn, Sir.

Long
BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Fibonacci numbers appear in everything in our lives, they are the very fabric of Math and everything around us.

'Most' Bitcoiners obsess about one thing (rightly or wrongly) and that is the price and when it will make them rich or when it will be the moon etc.

In my own trading i look to the Fibonacci sequence to understand where targets may be during price discovery , but more frequently look to use to identify logical levels of retracement beyond the usual support and resistance zones, or simply to identify confluence.

Here i have applied a time based sequence from the first major Bitcoin pump available to us on this aggregated index. amazingly you can see that important tops occur on or around the major Fibonacci numbers as time passes by. You can see this at each of the numbers along the bottom of the chart. This indicates that the next major high is due at the 13, sometime around the end of 2018 (and precedes the 2020 halving)

Coupled with this i have overlayed the Fibonacci circles which are plotted for each of the major market cycles to date. You can see that there is clear confluence between the circles.

The red inner circle is the 0.618 of the move from the 0 low to the 1 high. Here you notice how the bull market runs out of a consolidation following the first major kicker and moves to complete the final phase of the bull market to the 100%. The Blue circles represent 1.618 extension of the move and you can see that there is a clear overlap between the old and new market and it signs the end of the bull run.

Putting these two together, we can predict what could happen if there were to be continuation of this form, where i have put the Bitcoin Moon.

This is more of an educational demo than anything else which i hope you found interesting. It also gives some insight into where the moon could be according to confluence of the Fibonacci sequence.

You may find my other tagged long term charts of interest.

Best

filbfilb

Comment: How im thinking this would play out

Comment: sideways till October..?

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Comments

I'd like to see a revised version of this
+2 Reply
master stroke
+2 Reply
hmm lets wait and see
+1 Reply
Your the man Phil. Will you consider doing a chart on BTG? Would love to hear your thoughts on it.
+1 Reply
filbfilb ruraldisturbance
@ruraldisturbance, :) against the $ or btc?
Reply
@filbfilb, BTG/BTC
Reply
Very cool and interesting, if this kept going that would mean after this massive next bull run it will be a pretty long bear market?
+1 Reply
filbfilb ghengiskahnspermshot
@ghengiskahnspermshot, that would indeed be correct, but not something I’ll be too worried about ;)
+2 Reply
Could you publish an updated version of this?
Reply
What if we get a bottom in October instead of a top? Just my thoughts though
Reply
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