Fibonacci Knows When Bitcoin Muhn, Sir.

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.



Comment: How im thinking this would play out

Comment: sideways till October..?

I'd like to see a revised version of this
+1 Reply
What if we get a bottom in October instead of a top? Just my thoughts though
filbfilb Commodore3
@Commodore3, then this pattern would be wrong.. not to say it could not happen.
does this mean no 5k or 3k? D:
Thank you! Always appreciate your accuracy and shares. I'd be grateful if you'd be willing to repost the chart so that it shows in dollars? or just share what you're target is? Thanks again.
60k by the end of 2018? Is it in harmony with the "McAfee Dick Line"? :-)

No, it isn't. His projection is only 25k.
However, I feel that your calculation is more thorough.
@Hunor, im certainly not offering anything like that if im right!!
+1 Reply
hmm lets wait and see
+1 Reply
did we break out already?
filbfilb erikjanssen
@erikjanssen, it certainly looks that way if this is real!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out