BitcoinLong
Follow Up to March 19th Fibonacci Time Scale Idea
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I published an Idea on March 19th pointing out the occurrence of BTC crashes on Fibonacci time scale lines. Most everyone using TA uses Fibonacci levels for retracement and extension of price right? So are Fibonacci time based markers useful? If the projected time range (May 12-16) produces another "event" then I'd say so. Stay tuned...
In the meantime, I've been looking at alot of TA since the BTC turnaround and much of what I read wants to define the price movement LINEARLY through "channels" and "Wedges". When I look a the same data I mostly see CURVES. I see non-linear movement. This becomes, to me, more apparent when looking at much longer time frames.
On this graph there are three curves that I've fit to the price movement. #1 and #2 are somewhat flexible depending on the chosen points but #3 fits really well. What I am interested in seeing from here is how well (or not) price follows the curve(s) and then how price/curves/Fibonacci time line all intersect.
This is NOT a predicition. I see things that I find interesting/not the norm in TA sometimes and I share them. Do with it what you will.
As always, comments are welcome and I hope that your BTC count increases!
In the meantime, I've been looking at alot of TA since the BTC turnaround and much of what I read wants to define the price movement LINEARLY through "channels" and "Wedges". When I look a the same data I mostly see CURVES. I see non-linear movement. This becomes, to me, more apparent when looking at much longer time frames.
On this graph there are three curves that I've fit to the price movement. #1 and #2 are somewhat flexible depending on the chosen points but #3 fits really well. What I am interested in seeing from here is how well (or not) price follows the curve(s) and then how price/curves/Fibonacci time line all intersect.
This is NOT a predicition. I see things that I find interesting/not the norm in TA sometimes and I share them. Do with it what you will.
As always, comments are welcome and I hope that your BTC count increases!
Note
The curvature is still seeming to be a better fit than the linear channels in my opinion. I think we might have bounced off of the Fibonacci time scale low (see other post for details) and be in the beginnings of an up swing.
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