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naoisegolden
Nov 12, 2017 11:57 AM

Fibonacci analysis of BTC 

Bitcoin / EuroBitstamp

Description

BTC tends to work well with Fibonacci. I applied a Fibonacci retracement to BTC's $1600 support and tried to make it fit into the latest price spike and drops. I also applied Fibonacci Time Zones to the strongest dips. Not very conclusive but this last dip shows ahead of time, perhaps still more to deep? Besides the big dip seems to have gone back to the $5200 support. All in all not a very conclusive chart, any thoughts?
Comments
afkbio
Yes, bitcoin price is currently heavily manipulated. Don't try to apply any TA thing to it now.
PeteH82
@afkbio, what is a TA? Sorry I am new in this game and thanks for your answer :)
afkbio
@PeteH82, technical analysis
naoisegolden
@afkbio, yeah, just went through some of the posts out there… let's see where all this ends. Thanks for the comment.
naoisegolden
posts like this one from past July pastebin.com/n0aGBMQr
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