Fibonacci channel will lead the way for BTC? Interesting find:
The Fib Channel uses 3 points:
Low, Second Low and a High that's in between.
I've chosen the 2013 local low, 2015 capitulation low and the 2014 Blow off top at ~ 1,150$. Note how all major lows and highs are respected including the 2017 blow off top.
The channel perfectly caught the 14,000$ local top in June 2019 (0.5 Fib), the capitulation in March 2020 as well as the current highs in April and November 2021 - finding resistance at the 0.618 and 0.5 Fib respectively.
Currently, we are at the 0.236 level, which when broken to the upside (in 2017, 2019 and 2021) let do a big increase in price. This is a subjective price predicting tool, much like all others, so still use with caution.
P.s. if you play around and make a separate Fib Channel for each cycle thus far, you will find that the 1.0 always acted as resistance for the final Blow off top.
Low, Second Low and a High that's in between.
I've chosen the 2013 local low, 2015 capitulation low and the 2014 Blow off top at ~ 1,150$. Note how all major lows and highs are respected including the 2017 blow off top.
The channel perfectly caught the 14,000$ local top in June 2019 (0.5 Fib), the capitulation in March 2020 as well as the current highs in April and November 2021 - finding resistance at the 0.618 and 0.5 Fib respectively.
Currently, we are at the 0.236 level, which when broken to the upside (in 2017, 2019 and 2021) let do a big increase in price. This is a subjective price predicting tool, much like all others, so still use with caution.
P.s. if you play around and make a separate Fib Channel for each cycle thus far, you will find that the 1.0 always acted as resistance for the final Blow off top.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.