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 volume 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 bullish 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 ETF decisions or something else that fuels a late 2018 rally .
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nice chart man keep it up! or it`s good to add bad words about you and your followers?! surely not Respect yourself to be respected by people good luck @majorlee,
majorlee
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@Intuit mine is pure TA my friend, i speak from my gut and heart, if this chart is bullshit, i really hope someone would call me out rather than being blind followers of FUD, doom and gloom and quite silly outcomes like you are saying in your charts BTC to ZERO, my word u will get clicks and traffic with that clickbait, all im doing is trying to keep it real and give the most likely possibilities to happen and if i do get it wrong, i wanna know why and where i can improve
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
HamadaMark
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@majorlee, we smile while reading your replay but we know you read details at this education topic BTC to $0 we think you understood the significance clearly true of this article about TA maybe this was your first time join our profile so at your free time you can start read last updates for BTC since 3 Mar 2017 until now 27/9/2018 and after that you can say it`s good or just bullshit and we are fine with both bad before good, But before the verdicts are issued, the facts must first be examined.
Start with BTC Rainbow
HamadaMark
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nice to talk with you don`t forget Those who respect people no one can't dares to dwell on them peace and bless up brother @majorlee,
majorlee
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shout outs
genem43nyc
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I 2nd the thought.... insightful, quality TA. TY
AlanSantana
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This is a beautiful chart.
Thanks for sharing.
achtung360
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Hi I spent a lot of time looking at the data and this in Long View Conclusion. There are a lot of details explaining why this in all probability can't be the the bottom.
majorlee
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@achtung360, yeah i called this in Dec 2017 dude, thus not hitting 4k due to stoopid levels of fomo has cause over 6 months of finding its price, wish i had the time spare to make funny joke charts like you
cryptotrader123
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Hello, Bakkt seems to be the catalyst that we need by the end of the year.