Hello All,
The golden lines on the fibonacci would generally be considered the golden ratio and it has always shown great accuracy for a common reversal point during a bounce off a fall. If BTC can clear and hold the gold lines, it is then possibility to touch its high again and possibly break for ATH.
AS we can see with 2017 once the price rejected in this golden zone, it fell nearly 45%. This is a huge moment for BTC. This will tell very much about the alts specifically.
In the last bull markets, BTC topped and then most alts ran for around a month or two exploding to ATH. This is the period where much of the gains were produced for most alt coins. During this period BTC was downtrending but also doing much consolidation. Within that period most alts had mind blowing uptrends.
If BTC can manage to break and hold this golden ratio, the bull run may last longer if time generally repeats. This could then give a hint most alts have much more gains to come.
Please Comment and Share your thoughts!
The golden lines on the fibonacci would generally be considered the golden ratio and it has always shown great accuracy for a common reversal point during a bounce off a fall. If BTC can clear and hold the gold lines, it is then possibility to touch its high again and possibly break for ATH.
AS we can see with 2017 once the price rejected in this golden zone, it fell nearly 45%. This is a huge moment for BTC. This will tell very much about the alts specifically.
In the last bull markets, BTC topped and then most alts ran for around a month or two exploding to ATH. This is the period where much of the gains were produced for most alt coins. During this period BTC was downtrending but also doing much consolidation. Within that period most alts had mind blowing uptrends.
If BTC can manage to break and hold this golden ratio, the bull run may last longer if time generally repeats. This could then give a hint most alts have much more gains to come.
Please Comment and Share your thoughts!
Comment:
BTC is following same path as 2017. Monitor closely.
Comment:
FIb has played perfect. .702 is the bomb retracement level. -30% since i warned of this near perfect similarity.
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