Gweilo
Short

BTC Fib Strategy

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As I have pointed out before, BTC likes to bounce at the .886-1.13 and the . 618 retracement .
Every retraced run has resulted in 100% accuracy of the predicted move within roughly 100pts
of the retracement mark. The retracement for 2 runs ago gave a nice bottom pattern within 100pts,
and now this leg up has come within 100pts of the .618.
The strategy is to project the fibs at the swing points and take a position
within 100pts.

BTC is also in a triangle. If I had to guess I would say it will proly result like the last one
(bull trap breakout and eventually breakdown).
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