I have an update as to what my thoughts are on the most recent price action movements of Bitcoin. In my post on may 27th I had forgotten to add that the manner at which bitcoin broke through the fractal resistance line would likely dictate how the short term movements foreshadow bitcoins movements over the mid term. This is derived from fractal analysis which i will go into more detail at the bottom of the page as to why I find it so interesting. My thoughts were that if bitcoin violently broke the resistance point, as it has, the affects would be a much more favorable outcome for the bulls. If bitcoin had struggled to break this fractal resistance and tested the 6900 long term Resistance line we would see a long term descending triangle however this is not the case. The manner in which bitcoin broke through this resistance foreshadows that it will move faster upward as it approaches key resistance points. Resistance points will be as follows IF I am correct 8000, 8300, 8700, 9000, 11700. I see bitcoin bouncing off these resistance lines and ultimately forming a descending short term triangle at the resistance line for the long term triangle.
Fractals- I like fractals as much as like using fibinachi tools. I like them in the same way because they are found to represent everything from the galaxies to electrons. Fractals development is shown throughout nature and is an unconscious manner for how the inner working of what we know as the world functions and develops. In my opinion fractal programming will play a crucial part in creating artificial intelligence as we approach the hypothetical technological singularity that I hope never happens.
As always this is purely my opinion and I urge people to do there own research and to never over trade.
I hope you enjoy my analysis and look for more posts from BraveTraveler.
Fractals- I like fractals as much as like using fibinachi tools. I like them in the same way because they are found to represent everything from the galaxies to electrons. Fractals development is shown throughout nature and is an unconscious manner for how the inner working of what we know as the world functions and develops. In my opinion fractal programming will play a crucial part in creating artificial intelligence as we approach the hypothetical technological singularity that I hope never happens.
As always this is purely my opinion and I urge people to do there own research and to never over trade.
I hope you enjoy my analysis and look for more posts from BraveTraveler.