BTCUSD 100X PRECISION - Inverted scaling projection (surprise)
sometimes you have to look at things differently to find what you're looking for
so, this is an inverted chart of BTC of Coinbase. I've used 0.5 from the fib retracement tool just to get a clean cut on the wick
having fun, I thought I would treat the action since listing as a corrective wave
the fib retracement on A hit 0.854 which would classify this as a zigzag (although counting the 5 swings downwards isn't fun)
projecting where a zigzag ends is simple: apply a fib extension of A to B - an ideal place for it to end is 0.618 (although 1.0 & 1.236 are possible; hitting 1.618 would signify that it is a third impulse out of five)
does this work? well, yea. a method to forecast where a wave 5 could end is to add a 0.618 extension of wave 1 + 3 to wave 4
however, the issue here is that our A ends at what we see as wave 3 (20k)
a lil spooky, huh?
so, this is an inverted chart of BTC of Coinbase. I've used 0.5 from the fib retracement tool just to get a clean cut on the wick
having fun, I thought I would treat the action since listing as a corrective wave
the fib retracement on A hit 0.854 which would classify this as a zigzag (although counting the 5 swings downwards isn't fun)
projecting where a zigzag ends is simple: apply a fib extension of A to B - an ideal place for it to end is 0.618 (although 1.0 & 1.236 are possible; hitting 1.618 would signify that it is a third impulse out of five)
does this work? well, yea. a method to forecast where a wave 5 could end is to add a 0.618 extension of wave 1 + 3 to wave 4
however, the issue here is that our A ends at what we see as wave 3 (20k)
a lil spooky, huh?