Using two channels with yellow and orange colors we are going to evaluate golden ratio on BTCUSD chart
by multiple reasons the yellow channel is more valid
1) express completely in time
2) same positioning compared to 2017-2018 descending wave (almost parallel)
3) always responsible for correction and distribution
note that 0.618 and 1.382 are reasons of distribution, so i expect two other ratios (0.382 and 1.618) in relation to correction
bullish wave may last until 30may and 55K price and then a dump to 20K area is possible to complete the wave counting and execute the phi function of chart
Secret Note! for whom seeking it, there is two dotted line on chart, this two line are reflection of lowest price action of Bitcoin (0.01 $), one with white color is 1.73 and the other one is 2.125 which will touch it in future, so i used a parallel of it (1.125) to represent its function
by multiple reasons the yellow channel is more valid
1) express completely in time
2) same positioning compared to 2017-2018 descending wave (almost parallel)
3) always responsible for correction and distribution
note that 0.618 and 1.382 are reasons of distribution, so i expect two other ratios (0.382 and 1.618) in relation to correction
bullish wave may last until 30may and 55K price and then a dump to 20K area is possible to complete the wave counting and execute the phi function of chart
Secret Note! for whom seeking it, there is two dotted line on chart, this two line are reflection of lowest price action of Bitcoin (0.01 $), one with white color is 1.73 and the other one is 2.125 which will touch it in future, so i used a parallel of it (1.125) to represent its function