BitcoinUpdated Long term targets
I wanted to investigate what Fibonacci extensions BTC has hit in it's lifetime.
Because of the insane growth I decided to calculate ratios further than tradingview's default tool does to accommodate BTC's nutso bullishness and happened upon 1,794.8% thanks to our old friend, the golden ratio.
Ignore timelines as I'm not interested in that.
Also, I'm not totally clear on the naming conventions at different scales so I've just picked what I liked the sound of :) If anyone has something to correct me on I'm always open to criticism.
Because of the insane growth I decided to calculate ratios further than tradingview's default tool does to accommodate BTC's nutso bullishness and happened upon 1,794.8% thanks to our old friend, the golden ratio.
Ignore timelines as I'm not interested in that.
Also, I'm not totally clear on the naming conventions at different scales so I've just picked what I liked the sound of :) If anyone has something to correct me on I'm always open to criticism.
Note
For anyone interested in the working:1.618 / 0.618 = 2.618
2.618 / 0.618 = 4.236
4.236 / 0.618 = 6.855
6.855 / 0.618 = 11.092
11.092 / 0.618 = 17.948
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.