BTC - 0.5 FIB loose theory
I've been watching this recent rally to see if the body of the weekly candle breaks and holds above the 0.5 Fib.
Based of the preceding high to low, the rally runs out of steam and breaks down at the 0.5 Fib.
- 2018 Jan High and December Low led to the retrace in July 2019 to the 0.5 Fib
- 2019 July High to December Low led to the retrace in Feb to the 0.5 Fib
- 2020 Feb High to March Low has (thus far) led to the retrace in April to the 0.5 Fib
This is a pretty loose idea but noting it down - Draw enough trendlines and you will eventually connect everything so I will only take this with a healthy pinch of salt.
Best, Hard Forky
Based of the preceding high to low, the rally runs out of steam and breaks down at the 0.5 Fib.
- 2018 Jan High and December Low led to the retrace in July 2019 to the 0.5 Fib
- 2019 July High to December Low led to the retrace in Feb to the 0.5 Fib
- 2020 Feb High to March Low has (thus far) led to the retrace in April to the 0.5 Fib
This is a pretty loose idea but noting it down - Draw enough trendlines and you will eventually connect everything so I will only take this with a healthy pinch of salt.
Best, Hard Forky
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