Here's an idea, the Wonderful 61.8% And 38.2% Fibonacci Magic.
Orange Circles lined up at the 61.8% And 38.2% Fibonacci Levels from the swing high of the ATH at $19,891.99 in December 2017 to the swing low of $3,130 in December 2018. (Pink Fibonacci Extension Tool)
Light Blue Circles lined up at the 61.8% And 38.2% Fibonacci Levels from the swing high on June 26, 2109 at $13,868.90 to the projected swing low of $10,903.82. (Yellow Fibonacci Extension Tool)
Remember to always, always place your trailing stops at the appropriate levels as not to get stopped out at your trades.
>>>>> Always be prepared for either scenario of upwards movement or downwards movement. <<<<<
Happy Trading Everyone.
Ron
Zoomed In Chart:
============================================ Check out these still valid mid-term outlook for Bitcoin:
Support and Resistance Lines
The Trend-Based Fibonacci Extension Tool
Elliott Impulse And Correction Waves
Potential Inverse Head & Shoulders Pattern
============================================ Check out these still valid long-term outlook for Bitcoin using:
Bitcoin ABC Elliott Correction Wave & Gann Boxes
Bitcoin's Most Common Reversal Levels
Fractals: Hmmm, Pretty Similar To Me Bitcoin
============================================ Check out Bitcoin Cycles
@prefabsprout,
Summary of price direction for the long term, Bitcoin is going upwards.
Summary for the short term, unpredictable, that’s why looking at different angles on the chart is imperative when day/swing trading.
There are different lessons that can be learned from all the charts I post, hope you’ll find them valuable.
Thanks for viewing my charts.
Wishing you all the best in all your trades.