I personally tend to feel that many traders apply Fibonacci excessively.
But currently Bitcoin may be headed on a path giving more legitimacy to Fibonacci.
If Bitcoin continues a sharp downward path, pay close attention to price action at the $3K area.
If it goes even farther, attention to the $2K area.
If it rebounds, watch the $5K area.
If it rebounds even more, watch the $8K area.
But currently Bitcoin may be headed on a path giving more legitimacy to Fibonacci.
If Bitcoin continues a sharp downward path, pay close attention to price action at the $3K area.
If it goes even farther, attention to the $2K area.
If it rebounds, watch the $5K area.
If it rebounds even more, watch the $8K area.