Today I will share something priceless.
As we dig and dig through the multiverse of guesses from speculators and analysts, we uncover the truth. There is always a call, simultaneously, for a bullish and a bearish scenario to play out. To make matters worse, there are also calls for "bull/bear traps" every step of the way. On top of THAT, there are instances where misinformation is intentionally spread to throw off the herd. So how is anyone supposed to navigate this madness?
OKAY, I'll tell you.
First, realize that the "market" is a mechanism of nature just like the solar system, bird migration, and your unsettling browser history. If you don't believe me and haven't blown your mind yet today, then learn about Benford's law: en.wikipedia.org/wiki/Benford's_law
Fibonacci levels are god-like tools if you know how to use them. So let's get on it.
You can find more examples of my use of fibs in previous posts. I'll link some below off the top of my head but find the rest yourself. I can't do all the work here!
The DXY is currently running the show with regard to Bitcoin, Gold, and Silver. Let's take a look and use Fibonacci extensions to see what's happening.
1. Find the first impulsive leg up or down (in this case it's down)
2. Measure it using the fib extension tool to the next low, then to the subsequent high
3. Watch the levels. If it tags them and starts to bounce it becomes a valid level
Notice how the price only makes it halfway to the next fib level down. For some odd reason prices like to tag the next level once it makes it that far. I don't know why, it just does more often than not. Ask Benford, he might know. All I know is I've seen this pattern before and called the bottom of Natural Gas perfectly using this method.
Fib extensions also worked perfectly mapping out Gold and will continue to do so I imagine.
...and Bitcoin.
Silver
Trading is risky, don't do it.
As we dig and dig through the multiverse of guesses from speculators and analysts, we uncover the truth. There is always a call, simultaneously, for a bullish and a bearish scenario to play out. To make matters worse, there are also calls for "bull/bear traps" every step of the way. On top of THAT, there are instances where misinformation is intentionally spread to throw off the herd. So how is anyone supposed to navigate this madness?
OKAY, I'll tell you.
First, realize that the "market" is a mechanism of nature just like the solar system, bird migration, and your unsettling browser history. If you don't believe me and haven't blown your mind yet today, then learn about Benford's law: en.wikipedia.org/wiki/Benford's_law
Fibonacci levels are god-like tools if you know how to use them. So let's get on it.
You can find more examples of my use of fibs in previous posts. I'll link some below off the top of my head but find the rest yourself. I can't do all the work here!
The DXY is currently running the show with regard to Bitcoin, Gold, and Silver. Let's take a look and use Fibonacci extensions to see what's happening.
1. Find the first impulsive leg up or down (in this case it's down)
2. Measure it using the fib extension tool to the next low, then to the subsequent high
3. Watch the levels. If it tags them and starts to bounce it becomes a valid level
Notice how the price only makes it halfway to the next fib level down. For some odd reason prices like to tag the next level once it makes it that far. I don't know why, it just does more often than not. Ask Benford, he might know. All I know is I've seen this pattern before and called the bottom of Natural Gas perfectly using this method.
Fib extensions also worked perfectly mapping out Gold and will continue to do so I imagine.
...and Bitcoin.
Silver
Trading is risky, don't do it.
But using the macro fib levels, I anticipate a longer term DXY drop sometime after that.