Following and knowing simple fib retraces are key on both micro and macro levels.
Spot trade idea.
Using simple indicators; 200 SMMA, 50 SMMA RSI - find the bottoms, fib retrace those levels - up or down
Yellow is target, micro and macro levels
CRYPTOCAP:BTC Micro level pointing to a downside? Fib retrace, in a volatility funnel, shows a target of 51k.
Macro target is still 95k.
If the micro fails and hits 51k, the volatility funnel to the upside would be similar to the macro target.
BTC likes to blow through targets.
September trough February may be interesting.
Bitcoin Cash is setting up it's micro retract beautifully.
If this coin triple bottoms at $90, I would be inclined to pay attention. BCH is volatile and loves volatility funnels, it always follow fib retracements.
If BCH closes at $90 within the next few months (this month?), the micro retrace to the upside is almost identical to BCH's macro target at .50 fib...
