BTC/USD - Study of ultimate BTC bottom (Fibonanacci price/time)
In my previous post I showed the MAIN RESISTANCE/SUPPORT LINE of BTC price all the way from the very top in December 2017 until now (July 2018).
Now, here I want to show a study with the help of a Fibonacci Speed Resistance Fan, in order to project a possible ultimate bottom in BTC with regards to price/time.
So, starting the Fib Fan from the top in December 2017, I thought I would put the 0.5 point (both 0.5 in price and 0.5 in time) on the green line right at the point in time (mid April 2018) where the green line turned from main resistance line into main support line. Do you think this makes sense? Please feel free to comment.
And if I do so, then this Fibonacci Fan projects an ultimate bottom in BTC at a price level just below USD 4,000 in the third week of Augustus 2018.
If this works out, then from then on I would expect sideways price movement for quite some time, perhaps towards Q4 of 2018.
Does this make sense? I really don't know. Let's see how it all works out.
Good luck with trading.
Now, here I want to show a study with the help of a Fibonacci Speed Resistance Fan, in order to project a possible ultimate bottom in BTC with regards to price/time.
So, starting the Fib Fan from the top in December 2017, I thought I would put the 0.5 point (both 0.5 in price and 0.5 in time) on the green line right at the point in time (mid April 2018) where the green line turned from main resistance line into main support line. Do you think this makes sense? Please feel free to comment.
And if I do so, then this Fibonacci Fan projects an ultimate bottom in BTC at a price level just below USD 4,000 in the third week of Augustus 2018.
If this works out, then from then on I would expect sideways price movement for quite some time, perhaps towards Q4 of 2018.
Does this make sense? I really don't know. Let's see how it all works out.
Good luck with trading.
It is all Fibonacci.