A big shoutout to OPTICALARTdotCOM for providing his valuable training videos on Fib Circles. If you haven't seen his videos, check them out. Truly amazing. www.youtube.com
According to the Fib Circle, It looks like tonight will see a drop of >$150 to around $5800.
Calling it before it happens.
Based on the 2015 trajectory of the 21 day moving average crossing the 50 day moving average and the negative price action that resulted during this crossing, I'm suggesting we could see a short lived 30-50% drop sometime around the May 18th date (depending on where the 21/50 crossing occurs. The price will quickly rebound and start the new Bull Run shortly after...
In Bitcoin's short history, we've learned a couple of things that may remain consistent throughout Bitcoin's future (at least until the volatility decreases).
1: After each bull run, there's approximately an 85% correction
2: During the first two 4 year cycles, the angle for the top of the bull market (peak price) has decreased from 56 degrees to 39 degrees,...
This is my first attempt at trying to understand where Bitcoin will be in the next few years. I've heard every number from $30K to $1M, so I thought I would use only TA to determine the future of Bitcoin. I would be interested to hear your thoughts.