Most zones have not changed since last post for BTC. Some of the zones near current price have changed. Here is my last analysis, which proved pretty accurate:
These zones are calculated using Fibonacci Ratios of past price moves. Fib extensions and retracements are projected forward in time and price. If price bounces or reverses, it will probably do so at one of these zones.
Some zones will match previous highs and lows, since Fibs are derived from the extremes. Some zones will not match anything previous, but they are Fib multiples and THOSE are the important ones. Zones that are far from current price will be either WIDE or just a LINE. Just a line indicates important Fib Ratio.
Where prices overlap on the zone lines, drag the Right (price) Axis up to magnify and reduce overlap vertically. There are zones above and below the current price range, Drag the Chart up/down to see other zones. Drag bottom axis to the left to magnify the candle size to view close up, or to the right to view larger time frame.
I will update as new zones are defined by upcoming Fibs.
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BTC up against serious resistance. It we break above, it will fly!
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Broke through the resistance with a strong push. Interestingly at 9am EST on a USA Holiday! (July 4th)
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How Fib Zones do their thing, and how resistance turns into support.
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All of the zones are still proving valid.
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Another pip-perfect touch of a Fib Zone, staying in the rhythm. I have been meaning to post updated zones soon, but all the zones are still looking quite valid, and many have been reinforced with new Fibs that also lined up a the existing zones. So will post a new chart when the rhythm changes
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Why were any of these BTC prices important?
I have no idea. The price points seem random (not round numbers). Maybe some were Pivot Points (traditional, camarilla, etc) Maybe some hit certain EMA, MA, Bollinger, Trendlines, etc.
What I DO know is that the Fibs from past moves told me they would be important. As if the grand summation of all the reasons is defined purely buy the Golden Ratio?
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Some fascinating developments: Recent Price moves are still in prefect rhythm with established frequencies. In this snap, the grey zones are same as original chart. I added two fib extension ladders in Blue. Notice the perfect sync of the fib on left, and pretty good sync of smaller fib on right.
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Another example of the PRECISION of Fib Ratios. 1 minute chart showing perfect recognition of a fib zone. $7453.95? why that number? no idea. But the Fibs said it was relevant.
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Observations of newly defined Fibs of today's move with notes in pic. There were two separate ''impulse forces'' applied at two different times (two pebbles that fell in water). Each pebble drop created ripples (fib extensions) that rang upward. Wherever the ripples align (cluster) that is where the maximum energy should be.
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Another perfect touch of a thin fib zone. But second bounce will have weekend it quite a bit, probably fail next touch.
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Spike above, and then perfect retest of a small zone
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Well that zone in last pic held for like 12 seconds! :) Now broke down through a thick zone, and ended up bouncing as the support zone below.
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BTC tyring to work its way through a dense band of fibs. Vertically stretched pic, but notice the relevance of each grey line.
How Support and Resistance builds up like tree rings . Vertically blown up shot including my fibs drawn 2 weeks ago and new fibs since
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Another nice bounce from a Fib Zone
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Another ping of the same zone, this time no penetration
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Wow, the Power and Precision of Fibs continues to astound me
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Wow, my faith in Fibs is beyond 100% now. When I plotted those two zones right next to each other, I really wondered if that made any sense. Well, apparently it did.