THIS TIME IT'S DIFFERENT
This is what happened Nov 2013 - Nov 2015
This is what's been happening Dec 2017 - NOW
Note: THE KEY IS: the first drop goes from 1.618 -> 1
This is what happened Nov 2013 - Nov 2015
Note: THE KEY IS: the first drop goes from 1.618 -> 1
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MA150 30m resistance is too strong. Bitcoin's unable to break out beyond that. As before, going down to $2.9k
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Notice how the bottom formed between weekly MA125 and MA205 last time?
We are not there yet. There is still hope. ;-)
We are not there yet. There is still hope. ;-)
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Thought of the Day: If $3.1k breaks the Bitcoin is over
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Is slipping to $ 2.5k imminent?
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Slippin' and a-slidin'
Peepin' and a-hidin'
Been told a long time ago
Baby, I've been told
Baby, you've been bold
I won't be your fool no more!
Peepin' and a-hidin'
Been told a long time ago
Baby, I've been told
Baby, you've been bold
I won't be your fool no more!
- This chart don't even look like it's plotted correctly.
- How come 1.618 is at the top?
- Where did you get this from?
My answer is this:
I just made this up that by logical thinking. This is my own analysis, alright? ;-)
If you throw away your worthless TA textbooks and simply use your head to understand what happens to the price at the first major retracement after a bubble bursts, you may be able to comprehend this.
1.618 (top) -> price became "felt" too expensive to hold
1 (first retracement) -> return down to the "felt" normal
Golden ratio and stuff...
I hope that's understandable ;-) and you can follow my logic.
Don't hesitate to ask if not.