I used fib on time scale to measure the cycle and to tear up the fractal into different stages of the market. These proportions most likely can be applied to the case happened in recent 2 years.
Consider the M shape on the bottom that implies that market has lost its bearish incentive, can't fall anymore and is about to reverse its direction.
Consider the M shape on the bottom that implies that market has lost its bearish incentive, can't fall anymore and is about to reverse its direction.
Comment:
0.786 fib retracement = around 4K
Comment:
How bears view BTC
Comment:
Accumulate as the price moves closer to the level of 0.786
Trade active:
Relevant
Comment:
Crossing above the curve once more is a bullish sign, as well as entering green area.
Comment:
Yellow area similar behaviour
Comment:
Comment:
Nice Fibonacci tune of fractal
