New Fib Circle Predicts Bitcoin's Exact Action During Mini Run
I presented two scenarios in my last idea for BTC breaking out of the Bird Beak formation, and it looks that scenario 1 was BTC's choice of pathway. Digging in to see if I could find any clues as to what exact pathway BTC could take on this hike, I found a seriously interesting confluence between the candles and light purple fib circle set based on the June 26th 2019 to July 13th 2019 time period. We are crawling almost exactly up that fib circle boundary. Is this a coincidence? Perhaps. But there's no denying the mind-blowingness of this exact movement.
Notice that we are still trading above the 80% stochastic line, reversing trend after previously peaking and heading downward. Instead of dropping down, the stoch made a nice double-hump camel to continue this little pump. We might get three humps if we are lucky, before it reverses trend. Just because we are in the oversold area, that does not mean we can't continue holding current levels and bouncing higher each time the stoch goes upwards again. This double-hump move was enough to give BTC the momentum it needed to break through the top of that Bird Beak line.
What's next? Possibly $12,000. It is in play. It could happen right at the Big Red 4.618 line. My thoughts about the long run? I think it is very likely that IF we surge to $12,000, the correction will hit. Hard.
To understand the strength of the fibs and the golden ratio, dig back through a few of my ideas and press the play button. It's spooky how close some of the breakouts happened when the candles approached the lines.
Notice that we are still trading above the 80% stochastic line, reversing trend after previously peaking and heading downward. Instead of dropping down, the stoch made a nice double-hump camel to continue this little pump. We might get three humps if we are lucky, before it reverses trend. Just because we are in the oversold area, that does not mean we can't continue holding current levels and bouncing higher each time the stoch goes upwards again. This double-hump move was enough to give BTC the momentum it needed to break through the top of that Bird Beak line.
What's next? Possibly $12,000. It is in play. It could happen right at the Big Red 4.618 line. My thoughts about the long run? I think it is very likely that IF we surge to $12,000, the correction will hit. Hard.
To understand the strength of the fibs and the golden ratio, dig back through a few of my ideas and press the play button. It's spooky how close some of the breakouts happened when the candles approached the lines.