Is this current battle at 10153 USD simply the 50% retracement level (of June - December 2019)?
13880 USD = June 2019 peak (which was actually near the 61.8% Fibonacci retracement of the (19666 - 3122.28 USD) bear years! See between lightblue and lightgreen 13346 USD)
6425 USD = December 2019 bottom (and it stabilized around the 23.6% Fibonacci retracement 7026 USD of the same (19666-3122.28) bear years.)
10152.5 USD = (13880-6425)/2 + 6425 = the middle. Is THAT what bears and bulls are fighting about at the moment??
I am very new to Retracement levels. But for the 50% you don't even need Fibonacci, just ... the middle. IF this matters, then I predict where we might see a similar fight:
19666 USD bull peak December 2017
3122.28 USD bear peak December 2018
(19666 - 3122.28)/2 + 3122.28 = 11394.14
--> There will be another price fight (of the really long term bears and bulls) ... around 11394 USD. Let's see if that happens.
Opinions? And: Have I drawn the Fibonacci retracements correctly? And: Is 29890 USD (161.80%) the target of this run?
13880 USD = June 2019 peak (which was actually near the 61.8% Fibonacci retracement of the (19666 - 3122.28 USD) bear years! See between lightblue and lightgreen 13346 USD)
6425 USD = December 2019 bottom (and it stabilized around the 23.6% Fibonacci retracement 7026 USD of the same (19666-3122.28) bear years.)
10152.5 USD = (13880-6425)/2 + 6425 = the middle. Is THAT what bears and bulls are fighting about at the moment??
I am very new to Retracement levels. But for the 50% you don't even need Fibonacci, just ... the middle. IF this matters, then I predict where we might see a similar fight:
19666 USD bull peak December 2017
3122.28 USD bear peak December 2018
(19666 - 3122.28)/2 + 3122.28 = 11394.14
--> There will be another price fight (of the really long term bears and bulls) ... around 11394 USD. Let's see if that happens.
Opinions? And: Have I drawn the Fibonacci retracements correctly? And: Is 29890 USD (161.80%) the target of this run?