Bitcoin And The Golden Ratio Backside | BTCUSD Evaluation

On this episode of NewsBTC’s daily technical analysis videos, we study how Bitcoin might need bottomed exactly on the 1.618 Fibonacci extension, utilizing Elliott Wave Concept.

In Elliott Wave Theory, corrections are available in ABC patterns. Taking the Fibonacci retracement software to attract from the underside to the highest of the A wave will present a Fibonacci extension goal for the place a C wave correction would possibly finish. The wick right down to $17K touched exactly on the 1.618 Fibonacci with pinpoint accuracy.

Source link

See also  HSBC Undertakes Blockchain-based Commerce Finance