Shown here is the same fib series in three different timeframes. Left chart shows its "Genesis" (birth) and the growth rings since. Right side charts show the same fibs but in smaller timeframes.
The has called all the major turns since 2015. It helped us call the (must see this). Then it helped us spot the The last look kept us alert at the
Sure, it has given false hope as well. After the top we hoped . looked possible.
So the point is: The turn WILL happen at "a" fib, the question is "which" fib? But we get "exact" levels of interest for entries, stop losses, tp's. So we know quickly whether we are wrong or spectacularly right.
Thus we PREPARE to execute an "if-then" decision at each fib. Simply set an ALERT to let us know when price approaches one. The we look for a PING (exact ricochet) for a possible reversal.
I saw the fibs but still couldn't get what's your view.
EuroMotif
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@AlanSantana, Thanks for the coins and question. My view was that: IF bulls held 40.4k then we go UP, at least until the next fib above (45k again). But if it BROKE, then we go considerably lower, at least to 37.5k. I go line-by-line to choose a bias (or odds of direction).
The more methods that point to the same area, the BETTER :)
MarsSignals
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It will go up from here. Agree:
MarsSignals
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Very detailed
Alecto
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32k again?
EuroMotif
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@Alecto, 32k certainly possible again. I would hope bulls hold 37.5k for a "higher low", but lets see. But all in all, loss of 40k was a bad sign for bulls, IMO.
MarsSignals
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@EuroMotif, If we go further down, the major trend lines will be broken and we could enter another bearish phase.