Notice the fib speed resistance fan which is established by the low of the previous cycle and high of the next cycle. Sometimes price action will respond to these and sometimes it does not. In this case BTC:USDT has reacted to the fan often and so the price could be headed for the .618 line again. It would find huge support there.
I've also added a trend-based fib extension from the previous run. Bitcoin found resistance at the .618 which is a common rejection point with Fibonacci TA.
Happy trading!
I've also added a trend-based fib extension from the previous run. Bitcoin found resistance at the .618 which is a common rejection point with Fibonacci TA.
Happy trading!
Comment:
Called it. Right place but at the wrong time!