Experimenting with Fib Spiral Channels on APPL. I'm curious to see how it will played out in a couple of days. Hope you like the idea.. Cheers, Keops
Applying the fib spiral we are able to see that once a bottom is in for BTC the widest points of a fib spiral can help us time our trades during a bubble. Its helpfulness is somewhat limited by not knowing for sure that a bottom (point 1) and break out has occurred (point 2). However if a new all time high is achieved then setting a line (point 3) at the outside...
--- Please readjust the scaling so that the spiral sits just above recent price action --- We are still in the process of consolidation. In my opinion, the recent drop should not be interpreted as a meaningfull breakdown. It's still within the acceptable range. Price bounced of the longest possible MA at 222 (using Bitstamp due to good historic data). A break...
Hi -, presenting my weekly spiral chart. as you can see blue and green spirals marked perfectly weekly trend reversal zones. Keep in mind that selected red spiral anchor points are not 100% valid due to structure complexity. Cheers.
-- UPDATE -- This long-term this risk is still there, but as long as we keep on slowly going up (earlier ) since the massive correction down to $275 then this chart scenario posted here is going to be proven invalid. ----------------- The precise rules of Bitcoin price bubbles vary but it usually involves traders hopping from square to square, missing out the...
As much as I want Bitcoin to succeed we need enough buyers to get out of the overall downtrend. Maybe this pink line from the Fibonacci circle can help us see if we get a stable uptrend. We need a candle above it or the price could sink - again.
I am truly amazed by the precision of this "Fibonacci circle". All I did was that I connected with it two points: a) the end of the downtrend from June 11 (LOW) with b) the high of the uptrend from June 30 (HIGH). And suddenly the last peak of $683 from May 31 and the beginning of the uptrend starting at $441 from May 19, as well as the bounce of the resistance...