Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Done to test specific angle of uptrend which the fib channel is tuned to. Also testing how time fibs might separate stages of the cycle.
Time fib settings : Prebullrun correction (0 - 1) Reversal (1 - 1.272) Rapid growth (1.272 - 1.414) ATH registration period before reversal (1.414 - 1.618)
DATES OF TIME FIBS:
1.414 (14th FEB 2021)
1.618 (31st JUL 2021)
Comment
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So the growth was stopped at 0.618 fib channel. If you think BTC won't go higher and correction will take longer, then I'd use this scheme below instead for best support levels. More suitable for tracking the retracement based on general direction of patterns of the recent 3 years.
Comment
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Key angle worked for the scheme considering current pump.
Comment
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We're hours away from fib 1.414 - 14th FEB Let's see how price action will react.