Bitcoin/USD - Fractals, fibo, reversals and channels.

Mar 27, 2018

Whole move from March 18th to today (March 27th) is in fact a fractal of the whole movement between February 6th - March 18th, nearly identical (look on lower scales than 1d). Last time it ended on 78.6% fibo retracement and now we also fell near to that level (especially on Bitstamp ). Two such fractals one after another, one smaller then previous - creating triangles in smaller and bigger scales. Considering large volume during trend reversal attempt February 6th and the fact that price is still moving above linear downtrend line 19.8k - 17k, then sooner or later we should go up from this big triangle.

Moreover downtrend line from ATH 2.69% (linear scale) and local trend line March 5th - March 24th comined together into interesting channel from which we had many fake exits but still coming back - also a good sign.