Have you ever considered that Fibonacci starts from 0 - BTCUSD
Updated
The thought crossed my mind, the Fibonacci sequence starts from 0, so what would that look like on the btc chart, I input the values and have been speechless for a few days.
Not only is the all time Fib measurement astounding... the all time 0.618 is in confluence with the current 0.618 which just adds weight to my theory, and bias, which I am more than happy to be wrong about. We are speculators after all.
Note: It is easy to call a price drop, in markets we can see the past, but we can't see the future, it takes courage to call a breakout, so I commend everyone brave enough to make tough calls in hard times.
So what are my thoughts, why does this matter at all?
Well, it may not. But..
I think we have seen the bottom at $5900-6k and that the long term reversal is in sight, the all time 0.618 fib, measured from $1 to
ATH, in confluence with the current 0.618. The seemingly successful test of the 300ema and what is looking like a harmonic bat (if we touch the 400 again) all point to reversal.
P.S Look at the reaction at the all time 0.5 fib in November '17, that can't be self-fulfilling, right, seeing as the 20k price didn't exist then... Unless a huge % of the market were looking at the 1.414 extension for some reason...
This is no more than just an experiment, a look at something that maybe only a few people have considered. Call it Fun with Fibs if you will.
The permabull in me is obviously heavily biased, but all of this "coincidence" is very interesting.
Let me know what you think in the comments.
Not only is the all time Fib measurement astounding... the all time 0.618 is in confluence with the current 0.618 which just adds weight to my theory, and bias, which I am more than happy to be wrong about. We are speculators after all.
Note: It is easy to call a price drop, in markets we can see the past, but we can't see the future, it takes courage to call a breakout, so I commend everyone brave enough to make tough calls in hard times.
So what are my thoughts, why does this matter at all?
Well, it may not. But..
I think we have seen the bottom at $5900-6k and that the long term reversal is in sight, the all time 0.618 fib, measured from $1 to
ATH, in confluence with the current 0.618. The seemingly successful test of the 300ema and what is looking like a harmonic bat (if we touch the 400 again) all point to reversal.P.S Look at the reaction at the all time 0.5 fib in November '17, that can't be self-fulfilling, right, seeing as the 20k price didn't exist then... Unless a huge % of the market were looking at the 1.414 extension for some reason...
This is no more than just an experiment, a look at something that maybe only a few people have considered. Call it Fun with Fibs if you will.
The permabull in me is obviously heavily biased, but all of this "coincidence" is very interesting.
Let me know what you think in the comments.
Note
The .5 played out. The .618 failed. The question is, do we go and touch the .618 at $7500 or the .786 at $4200I vote we are on our way to the .618
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