BTCUSD BITSTAMP: Fibonacci Extensions

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
My last Fibonacci chart seemed to work out quite well as price respected all Fib Levels. I have added the levels of 0.114 : 0.886, and 0.75 to this chart to see how well the market will respect these levels. I have also put the 50% retracement level on the first price high of this rather small rally. Would be interesting to see if price will indeed reach the 359.30 resistance level .

Another thing I did differently was place my price low on the second swing down(307.11) after the extreme price low. Would like to see if this makes a significant difference compared to placing the price low on the extreme low(305.04).

Feel free to chime in!



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