Brick wall resistance at red fat line. Heading to blue cross where bit tears down into.
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zoomed out view of my Bitcoin chart for those that are interested...
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Spasms close to brick wall...
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One new bearish attraction point has evolved. Looks like it's setting its course towards the blue cross. Hopefully it hits bulls eye.
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Closing in on the resistance again.
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If it breaks below the blue cross and still has a strong bearish trend - then it could fall as low as $1150 (where a Fib. ring should catch it).
Don't trust the rings in this chart too much. They are very approximated...
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The scary part is that it could also bounce upwards from the blue cross. So be careful!
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Touching the brick wall.
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Broke through resistance. Could fall back below, but also rocket up. I.e. this info is useless for investing. Or maybe it can be used as "when in doubt, stay out" formula.
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I made some calculations... I think there will be a fight between BTC and ETH and that both of them will oscillate in market cap touching each other at about 68 billion (that's a $700 ETH price and a $4100 BTC price). When this fight is over I think Ethereum will double in market cap (that's $1500) and BTC will crash to an unknown price.
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Sorry from where I come from it's spelled "eachother"
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Crashes exactly vertically over the middle of the blue cross. Coincidence?
@mozartc, Firstly my analysis could be off. Secondly most importantly the Fibonacci rings aren't exact in their positioning since I placed them when it was zoomed out alot. Putting these points together I would strongly recommend you not to take this particular analysis seriously. Because if it's wrong and you're shorting you could always argue that the rings are off and accept more losses than normally. I don't really see how you can use this to earn money since it seems very risky - it was more like an artistic thing to me to try to predict this. And it will feel good if I'm right, but it's nothing you should put trust in. There's probably better ways to earn money - like buying QTUM after it crashes to $3 or $4.5 should be a great buy if it happens...