BTC down move over?
Updated
tried to make this as non complicated as possible so if you look at circles it should help. it's highly possible to go to the 1.618 (green circle) then bounce all the way to the blue line or .5 (green circle) before resuming down move to complete move to the white line 2 fib.(green circle). For longer term at beginning of chart you can see it already hit the 1.618 (yellow circle) and retraced to the .786 (yellow circle) putting white line at very bottom in play around 26k intersecting with short term 2 fib (green circle). There is one larger sequence at play but this is significant enough for now. This is the secret precise S&R lines for all liquid or illiquid trading assets cause it is a pattern based on fibs the only problem is it is fractal in a true sense not how most use the term. meaning in a daily candle you might have the pattern fully sequence 5 times on a 15 min chart and 2 times on an hour chart and once on a 4 hr chart and this is new to me so having some trouble finding what pattern it's moving on or what time frame it's honoring. Also, just cause it's a pattern it doesn't give you incite on the trend so you still have to figure if it's bullish or bearish. if anything, the pattern has taught me it's in a constant state of if..then thus always bullish and bearish at same time but of course you find what trend is with highs and lows. i'm hedging with gold. i'll post that idea as well.
Note
need to add that part of sequence includes retracements so like from the 1.272 it might go back to the 1 before going to the 1.414 and 1.618. unless extreme sentiment it almost always retraces after the 1.618 and the furthest i have seen is to the .5. in this case retrace is to the upsideNote
fun to revisit 22 month old charts with the way you can watch the chart unfold. notice the initial down move and up move i nailed the levels but not the timing. then it looks as if i was completely off as the chart booms upward escaping the fib levels i had in focus. then you play it up to current and begin to notice the macro lines in the background and if that isn't insane accuracy i don't know what is. back it out and look at the levels. notice i was torn on how to angle the fib channel so i left both and the chart over a year later is bouncing between the two. just a testament to how much more probable it is that there is a pattern beyond buying and selling and how intricate it is. wish you fractal folks out there would hit me up and let's concure this thing
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