Plotted are three different fib series from different timeframes. Each level likely to relevant, higher timeframes fibs more so. Confluence areas of the fibs are of special interest for turns.
Left Side is the "Genesis" wave since introduction at Coinbase. Right Upper adds Dashed fib of uptrend from Covid Crash bottom. Right Lower adds Dotted fib of last Impulse wave up from $8.5.
4.236 is the most common End Point of such a wave. 2.618 is the most common Mid Point to retrace from. 1.618 is the most common support after wave ends.
It is POSSIBLE that it goes past the 4.236. It is PROBABLE that it retraces from there. It is PLAUSIBLE that it can not be reached.
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I do not use "Fibs" in the "traditional" manner (retracements). I use Fibs to plot "Ripples" (extensions) created by "Impulses". Then look for "Confluences" to map the "interference Pattern".
My TV collection of ideas detailing the Concepts: Chapter 1: Chapter 2: Chapter 3: Chapter 4: Chapter 5: Chapter 6: Chapter 7:
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評論
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Target Hit EXACTLY
Perfect push into our Target and that gold fib sure was noticed!
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Zoom IN (3 min) for a closer look and WOW, that 4.236 was spot on. So why 15.5 and not 15 round? Because human brains work on the .618 ratio/multiples, whether knowingly or not. The Golden Ratio predicted 15.5 to be the average or mean decision point of all humans.
So what now? Couple of levels of interest We should see a bounce soon, but probably will go lower yet. Hopefully those supports will slow things down.
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SUMMARY: - Golden Ratio predicted that top Perfectly. - Likely that was end of a large scale wave. - Retest of 11.3 and 10 round quite possible.
We got a bit of a bounce on the first and "minor" support And it bounced it past the major fib in dark purple. Still likely to go lower, but this bounce has at least slowed the fall.
Hi, great analaysis, i was in at 7.16 and out at 14.5.
What do you think, will we go lower befeore another breakout?
jasantana92
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Hello any update on this?
Andych99
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What target do you think next 1 month? I am not day trade. Could it be $50 next month?
eldeoy
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Great analysis!
UnknownUnicorn8174991
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I'm curious about this idea, you have mapped out the retracements perfectly, but they are on charts that people don't really care about, like the 3-day and 12-hour.
Isn't it possible that it's just a coincidence, that these lines match up almost perfectly on these time frames?
There may be other custom time frames where these retracements would match even better. Thus, it's hard for me to accept this pseudo-analysis.
Also, if you're trying to measure how humans trade, it would make sense you try to construct fib levels on charts that other humans are working with, like 4-hourly, daily, and hourly. Not many people trade by the 12 hourly or even care about the 3-day, so even if you present charts that match with fib-retracement levels perfectly, it's useless for the most part, because humans are not using those charts to make trade with.
There's also bots you have to think about, I'd assume a great percentage of bots move the prices and they are not humans.
UnknownUnicorn8174991
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@sevarchy, uh, disregard my comment, changing different timeframes from genesis, and it still works. my bad... i used a daily chart from genesis and fib levels capture a lot of the r&s levels.
iLoveLobster
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Nice call - now that we've hit 6.853 after the retracement as @sevarchy has mentioned - where do we go from here?
UnknownUnicorn8174991
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@iLoveLobster, you misunderstood a bit, im talking about hitting $24 based on his 3-day chart.
iLoveLobster
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@sevarchy, Wooops, totally thanks for pointing out - I was looking at the 1hr chart and mixed your words. Going cross-eyed here.