This is logarithmic chart, and yes these are fibs.
The overlay is a segment from 25. Jul 2013 to 25. Jan 2014.
Charts are by nature fractal, so in a way history repeats itself and shows us that our minds work the same way and the patterns repeat. This time around the scale is much grater, but proportions stay the same and this is the mark of a fractal.
very good analyze. may i ask something: also what do you expect to happen after this ? and do you think alts (like strat, etc, game, lbc, sys) will pump for like a month ?
SilverStar_Trading
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@ripple10usd, Altcoins should have been sold off about a month ago. Altcoins only really do well 1 time a year with the exception of the odd pump here and there. The rest of the year the focus is on BTC and altcoins bleeeeeed
klimauk
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@SilverStar84, "Altcoins only really do well 1 time a year with the exception of the odd pump here and there"
I think twice a year. May-July, December-Feb
Coke_Coke
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@ripple10usd, hi, sorry I'm noob in charting here, can I know how do you make this chart? Or is it possible for you to show this chart further down? Thanks!