CryptoCoinSolutions
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Circles for focus - Trading Plateaus

BTCE:LTCUSD   Litecoin / Dollar
94 2 1
I've used the fib circles just to point out that these two areas are quite similar in shape and form and can show us that similar trading patterns exist in these two areas, these two "tops", which are quite different from the previous trading patterns in the previous two tops. It is my opinion we are continuing to watch the resolution of the "BIG M" chart pattern. Anybody that understands the markup using fib, or any other technique that might wish to comment on these two areas, please, let us discuss these areas.
shadyz
2 years ago
Your chart almost seems to point to bitcoin going to 13$ with the log scale like that
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BlockReward
2 years ago
I've only been reading charts for a month so please let me know if my understanding is flawed... Here goes "In the first fib circle zone we see a downward turnaround after massive speculation and cessation of dark web activity. The .618 fib arc gets broken pretty strongly and rebounds to the .236 zone momentarily as the small spike of money flow diminishes. The second fib circle does not hold this pattern as after the .5 zone the support is formed and brings it back in a bullish reversal. Do the two zones indicate similarities in trends based on this analysis? Money flow has inverse trend patterns to fib retracement support/resistance properties (in this scenario), so there is inverse symmetry in these two fib circle areas."
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