This video is an overview of Fibonacci golden ratio chart patterns for those who are new to trading, crowd psychology, and/or for those who aren't sure what any of this means.
I am particularly fascinated by the fact that certain world events and media FUD are aired in accordance with certain fibonacci zones, which is contributing to an in-depth exploration of...
The multiples reference the Golden Ratio (1.6) and the Fibonacci sequence (0, 1, 1, 2, 3, 5, 8, 13, 21). These are important mathematical numbers. These specific multiplications of the 350DMA have been very effective over time at picking out intracycle highs for Bitcoin price and also the major market cycle highs.
I am SO SORRY about the scratchy sound. I was being lazy and resting my laptop on my legs in bed.
I thought it would be more useful to explain my thought process rather than post a static photo. Let me know if it helped.
This is just a theory and SHOULD NOT be taken as any sort of investment advice.
This is just for fun and to inspire you to connect the dots...
The US Index correction up to the 61.80% Fibonacci retracement of minor waves 1-3 missed the 98.66 low of wave 1. This means that the current structure can be still considered impulsive.
With bears pushing prices down sharply, the chances of reaching fresh lows for the completion of minor wave 5 are increasing.
This scenario could be validated below minor 3's...
