$BTC/USD - D - [TA] Fibonacci Seq./Gann Fan Value Extrapolation

COINBASE:BTCUSD   Bitcoin / Dollar
  • Trough: ~$970
    Peak: ~$19,600
    Fibonacci Time Zone interval: 8 days
    Gann Fans: Based upon a 45 degree angle, trough to peak and peak to trough
    Fibonacci Circle: From trough to peak
    Scale: Log, no auto scale, 20/20/20 margin
    Price/bar ratio: 0.0047485

--- --- ---
On the Fibonacci time zone, we are shown dramatic price changes per time zone. I believe since we have nearly fully retaced, the value should increase again.
Based on previous data, we can see that there is a slight dip before entering it. It might be the same the other wise.

I've noticed that the current downtrend of $BTC can be either two things: a downtrending channel or a falling wedge . I obviously prefer the latter, but I cannot chart a falling wedge that I like.

All the tools used are based on the Fibonacci Sequence, sans the Ganns fans. I usually use indicators such as overlaid indicators and RSI/OBV, but I felt like all these were unneeded since the drawing tools I will be using create their own supports.
--- ---- ---
Right now is yet another crucial time for $BTC. If we break the 38.20% line without any hammer candles, I am expecting a free fall to the 50% retracement , ~$5,000. I want to believe this is our true bottom, based upon tthe support given by the Gann fans intersecting and, retracement. But if we look back to MtGox, it even retraced further under the 50% after a another Fibonacci time zone begun. Spooky!

Because our value exploded in 2017, the Fibonacci circle cannot provide support like it does for stocks; instead, we end up with extremely high volatility and a ~$5,600 bottom until we can breach the next Fibonacci circle line.

Explanation of the tools used. This may be skipped or critiqued.

  • Fibonacci circle: This was drawn from trough to peak (~$930 -> ~$1950); As you can see, the inner circles were used as supports and resistances; however, because the value jumped so quickly, we aren't afforded the luxury of circle support, only FIbonacci retacement levels. This means we can face many rejections back down to the previous support level , whether that be ~$8,500 or ~$5,600.

    Fibonacci Retracement: Throgh to peak, essential tool of traders. Predefines future supports and resistances; can be used to find bottoms or ATHs.

    Fibonacci Time Zone: 8 day interval between 0 and 1. I lined it up wth major market movement, with its starting point in a period of high voliatility,

    Fibonacci Circle: trough to peak/ till based on the fib sequence; each upcming line is resistance, while the lind before it support.

    Gann Fans I verified they were 45 degrees and didn't move the scale afterwards. 1x1 lines were not held, looks like the 1x2 on the top Gann will be new support. Looks good for going side ways at$ $8,000 for now

    Volume: A simple way to determine market action, sentiment, and trend.

Kommentar: Seems like Gann fans still don't work. I think I will use Gann Square Fixed next time so it will scale correctly.
Crpyto tips appreciated! You can't lose value on what you don't have ; )
Lightning network:
BTC - 36GUCF9CAzrtgkXs199NELscFcc8bnchE1
XRP - rf5rHXUAgdUh3YbgaqeW8VWfoRwnTXNN48
Wow, that accuracy...

I was just searching for Gann fan stuff as I'm learning about it now.
Now in the main chart setting you can "lock" the chart so that you can scale without change in your 45 angles.
You just have to set the ratio to lock to. Still not sure of this, but for BTCUSD a price/bar ratio of 100 seems to work on the day chart
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden