Today and for the last couple of days BTC has been moving up towards W.D.Ganns famous 1x1 angle, Gann is famous for this angle as he related it to a planetary degree around the Sun.
So if you imagine a 360° wheel/circle which represents the Sun, as you travel around the Sun, every 45° will be a resistance point in an up trend, the same applies for a down trend but this time it becomes support.
The reason I reference the Sun is because all planets orbit the Sun but aslo because Ganm used the cycles of the planets to trade commodities.
So if you have a look at where we stopped today, whilst it too was just above the .65 fib level it was to the tick on the 45° angle. Hope this makes sense. The attached chart also shows a date for a square out which means in short a trend reversal.
