We see AB=CD pattern at weekly chart with Decreasing volume. We find support at 0.618 fibonacci level to find C.
The bearish AB = CD is a Fibonacci based pattern, meaning Fibonacci ratios determine the turning points. Formula: D = (B – C)/ Ratio + C=(64895-28600)/0.618+28600=87300$
How often does price reach or exceed D? 95% of the time.One of the best performing strategies. 57% of the time price goes more than the D target.
AB is 224 days so CD should be in perfect pattern execution also around 224 days which is 31st January 2022. This could differ greatly also like D price. But we are with 95% security going to at least 87300$.
Mega bullish on BTC!
Bulkowski, Thomas N.. Encyclopedia of Chart Patterns (Wiley Trading) (Kindle Location 3643). Wiley. Kindle Edition.
The bearish AB = CD is a Fibonacci based pattern, meaning Fibonacci ratios determine the turning points. Formula: D = (B – C)/ Ratio + C=(64895-28600)/0.618+28600=87300$
How often does price reach or exceed D? 95% of the time.One of the best performing strategies. 57% of the time price goes more than the D target.
AB is 224 days so CD should be in perfect pattern execution also around 224 days which is 31st January 2022. This could differ greatly also like D price. But we are with 95% security going to at least 87300$.
Mega bullish on BTC!
Bulkowski, Thomas N.. Encyclopedia of Chart Patterns (Wiley Trading) (Kindle Location 3643). Wiley. Kindle Edition.
