Hi Vera, your chart shows 11,999 as .382 fibbo. Everyone else agrees 12,000 is the .382. Did you mean 11,999, or 12,999? Move is not complete yet; another 1000 points to go to the downside in the descending channel as 100sma (4H) still needs to be used as support. Right now it's in a no-trading zone and will zig zag up and reject down off the resistance in the trend channel until it hits the 100sma. But good call otherwise, acting as expected and the usual 30% pullback.
FUNTRADER-Vera
⋅
@josephtse,do not take too much concern on the fibo , please.
Analysis with candlesticks, thats enough.
BTC is not going a regular way.
@FUNTRADER-Vera, oh, I was lookng at the purple line you drew at the bottom... I thought it would come down to touch that line at about 12500...
It's going up again! wtf!
josephtse
⋅
I like your graph! So local top is where the parabola meets the underside line? I have connected top side lines and also underside lines and I get them to converge at 20,000. If the next swing low triple bottoms on the next lower moving average (20dma on 6h graph) at ~13,800, then I think next target is 20,000, which will coincide with a monthly RSI of 97, which is red alert for a 35 - 50% drop!