Bitcoin / USD Daily Coinbase Chart and where it's going...How and why I marked up this chart with drawing tools.
I started the first Fibonacci Speed Resistance Fan (FSRF) back to the lowest low I can scroll back to on 2015 January 14th when BTC was at $109.87. I ended the FSRF coordinates at the ATH on 2017 December 17th ($19,891.99). This makes for the lower angled FSRF rays on the chart. My up trending support line is green and around the green 50% fib level.
I began the Fibonacci Time Tool (FTT) {orange vertical lines numbered 0 - 5} at the ATH and ended the second coordinate at our most recent lowest low ($5,873.00) since after the all time high. What I notice about crypto is that time is reset after big and fast moves. Especially and mostly after a huge steep down move. New money can come in with low prices and the psycological factor of "getting in low" is continueing to give buyers confidence at recent prices.
The rocket upward movement has been re-set. Bitcoin has been re-fueling and ready to launch higher than ever. It's had enough time to cool off and let sellers take some profits. I can easily see BTC breaking the ATH this year and maybe soon!
Fibonacci SPEED AHEAD!
Every great idea is beaten to near death before manifestation!
This goat is going to fly in the sky <3
P.S. Is there an escape character sequence so that my use of "ATH" and "FTT" do not appear as tickers?
