In the past few years we can go back through bitcoins history and see many examples of the 0.618 fib level coming into play with its price action with the highs and lows, this is an extremely powerful tool to predict FUTURE movements...
Here are good solid examples of the major swings with BTC/USD and its Fibonacci retracements in 2018 and we are focusing on the current swing towards $7k
we will watch the momentum and and if bitcoin cannot get up and over this next projected fib level of 6900-7000 then its very likely to repeat the same patterns and will see price come down to test the lower $6k areas
On the other hand we are entering a very time for bitcoin in the late autum all through the winter months, will this be the last retrace before the year is up? lets see what happens over the next weeks to see if this happens again...
One thing we can determine is that the swings are getting lower as we go further into capitulation and like a winding coil we can see a big break on the horizon, may it be decisions or something else that fuels a late 2018 rally .
any questions or suggestions please join our Free Telegram channel which is also pump spam free too, bonus lol
peace up and safe trades
more examples of the power of the fib @ 0.618
thanks for the kind comment but please do speak your mind regarding the charts, i do welcome that type of criticism
peace and bless up brother
Start with BTC Rainbow