So how markets work... They revolve around a equilibrium point. We are measuring swings in this chart. A swing in one direction is needed to create an equal swing in the opposite direction.
This is one of the ways I concluded that bitcoin was putting in a low at 160. It's the equal measured move of the 320-460 upswing.
Once this reaction is complete... price will reach for equilibrium.
I am writing a book about all this, will give it away for free. I am also working on a website.
If there is anything you would like to see in a trading website please let me know so I can make the website as good as possible. Until then follow me on twitter twitter.com/BallerTraderballertrader.com
GoodLuck GoodTrading =)
Comments
Nuseii
⋅
Dig this man :P
d1v1d4v1d
⋅
Do you think similar happening in a longer term?
d1v1d4v1d
⋅
d1v1d4v1d
⋅
Once again, and finally.
BallerTrader
⋅
Yes. If bitcoin shows that its going to keep this bull trend alive, 420 is almost certainly going to offer resistance / potentially be the top of the bull market.
i like the way you did the fibs, its a lot cleaner than how i did it.