On the above chart I investigated the relationship and continuation of 'waves' within the Fibonacci Circle. Due to its incredible success, I decided to look over it again.
On this chart I show very comparable formations (formation 1) (formation 2) Formation 1 is contained within 0.786, while formation 2 extends through the 1 level Applying the same Logic with the continuation through 2.618, the bars pattern placed is price inverted from previous move through 2.618
The Weak (form) Market Hypothesis suggests " that today’s stock prices reflect all the data of past prices and that no form of technical analysis can be effectively utilized to aid investors in making trading decisions."
I find this interestingly applicable to this scenario, with repeated formations, in repeating fib levels.
so it could go down to 2k from here. is that correct?
Bixley
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@hotSwift95375, This is just theory, it played out so well on the last chart i thought I would investigate further. It doesn't correlate very well with other charts that I have made so keep that in mind. Heres a chart that doesn't correlate for example
ath1906
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@Bixley, this is super fantastico. if this happens, its 100x from here. keeping investments in the right place, will make 100x easy on portfolio.
Bixley
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@hotSwift95375, Honestly if it goes down, its a win on the chart for me, if it goes up chart takes an L, but my portfolio doesn't. This is how I think. HODL, Diamond hands.
ath1906
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@Bixley, fair enough. under which price point we can confirm that the downward pattern is in play to 2k?
Bixley
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@hotSwift95375, If it continues to move down the side of the circle, as the red line indicates. Try and accumulate ETH if we enter a bear market, 2K really isn't the end of the world :P
gabriellealleau
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Looks like we are in this weak market hypotheses, no?
Bixley
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@gabriellealleau, The hypothesis that resonates with me the most