Fibonacci numbers detected on the time axis. 3rd wave to go.
1 bar = 4 hours.
The distances between the tops and the bottoms of the latest price movements returns us almost perfect Fibonacci match:
* 13 + 22 -> 36
* 36 + 22 -> 59
* 36 + 59 -> 95
* 95 + 59 -> 154 / 4h = 27d for the 3rd wave
95th bar (ending of the 2nd wave) falls on the 15th of January, so I expect that current movement down can last up to 3 more days and the price can get a bit below $13000. If the price will reverse here, the next upward movement could last for around 27 days and bring us to the new heights. It can be interpreted as the 3-rd impulse wave. The 2nd corrective wave has almost reached the bottom of the 1st wave. The 3-rd wave can be long and powerful.
The distances between the tops and the bottoms of the latest price movements returns us almost perfect Fibonacci match:
* 13 + 22 -> 36
* 36 + 22 -> 59
* 36 + 59 -> 95
* 95 + 59 -> 154 / 4h = 27d for the 3rd wave
95th bar (ending of the 2nd wave) falls on the 15th of January, so I expect that current movement down can last up to 3 more days and the price can get a bit below $13000. If the price will reverse here, the next upward movement could last for around 27 days and bring us to the new heights. It can be interpreted as the 3-rd impulse wave. The 2nd corrective wave has almost reached the bottom of the 1st wave. The 3-rd wave can be long and powerful.
The goods: I have found the Fibonacci row, the trend line (wave 2), the resistance line of $13000. Understood, that crossing of these 3 is an important stop on the chart.
The bads: ignored, that there is no finished pattern before the impulse (start of the wave 1).
The uglies: did not even think, and as a result, did not publish that is is also possible to break the resistance line. It was also an important happening, that was in accordance with "the goods".
I will be more concrete in my further posts.
Need to include targets.
See more "blog-like" thoughts in steemit post, if interested: steemit.com/trading/...e-uglies-of-my-ideas