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Fibonacci Circles

Back to square one in a few weeks-- UPDATE -- This long-term this risk is still there, but as long as we keep on slowly going up (earlier ) since the massive correction down to $275 then this chart scenario posted here is going to be proven invalid. ----------------- The precise rules of Bitcoin price bubbles vary but it usually involves traders hopping from square to square, missing out the square containing their thrown targets. They go from one to (usually) eight or ten and then back to square one.
BITSTAMP:BTCUSDShort
by ChartArt
2
Gobsmacked By Fibonacci CircleI am truly amazed by the precision of this "Fibonacci circle". All I did was that I connected with it two points: a) the end of the downtrend from June 11 (LOW) with b) the high of the uptrend from June 30 (HIGH). And suddenly the last peak of $683 from May 31 and the beginning of the uptrend starting at $441 from May 19, as well as the bounce of the resistance on June 24 (and June 25) at $554 (and $557) are all connected with each other. Even on July 6 there seems to be some correlation with the price movement when it leaves the blue area of the Fibonacci circle.
BITSTAMP:BTCUSD
by ChartArt
7