Price is crushed in between two very old Fib's, (Prink Fibs - 0.382 and 0.286). Let us take a further in depth look.
I'll start from Left to Right with these % percentages I've lined out and some in relationship to price action and plotted Fib lines.
As we all know price action jumped up over $1,000 in basically a days time, to its new retracement (Tan Fib 1.000) at $ 7,481.7
Price adjusted into the pocket of a (2.62 % price action). This is inline with BTC's normal flexing trade range.
This range is between (Tan Fibs- 0.786 and 0.618) we should be cautioned that this is probably the best signalling range price will need to break through one way or the other, in an attempt to determine if we are in a micro bull or bear trend.
Most currently price has found its way into a much smaller and "abnormal" price trading range of (1.31 % price action) which is exactly 1/2 of the previous (2.62 % price action).
#1 Neutral - Price can flatten for a few more days ( unlikely ) and continue on through this very thin trading range of (1.31 % price action)
#2 Bear micro trend - Price can find the next trading range with a (4.00 % drop) into the (Tan Fibs- 0.618 and 0.500), and flatten out again briefly, and even bouncing up against the (Pink Fib 0.236)
#3 Bull micro trend - Price can find the next trading range with a (5.67 % gain) into the (Tan Fibs- 0.786 and 1.000), and flatten out again briefly, and even bouncing down against the (Pink Fib 0.382)
In Order to really start to see a dramatic move with price action will need to reach some further points of interest.
Below I will set another zoomed out picture for this explanation.
#1 Bear Trend is winning .. Price action found its way down to the (Blue Fib - 1.618) or $ 5,855.8 - a (19.40 % drop) although it is supposed to be 19.39 %
#2 Bull Trend is winning .. Price action found its way up to the (Tan Fib - 1.618) or $ 8,102.9 - a (14.41 % gain)
Although I don't study numerology I do understand its psychological effects for trading, on traders, and these are duly noted and strangely common on this chart of price action. --- Good Luck Trading and Enjoy your upcoming Holidays !!!
I'll start from Left to Right with these % percentages I've lined out and some in relationship to price action and plotted Fib lines.
As we all know price action jumped up over $1,000 in basically a days time, to its new retracement (Tan Fib 1.000) at $ 7,481.7
Price adjusted into the pocket of a (2.62 % price action). This is inline with BTC's normal flexing trade range.
This range is between (Tan Fibs- 0.786 and 0.618) we should be cautioned that this is probably the best signalling range price will need to break through one way or the other, in an attempt to determine if we are in a micro bull or bear trend.
Most currently price has found its way into a much smaller and "abnormal" price trading range of (1.31 % price action) which is exactly 1/2 of the previous (2.62 % price action).
#1 Neutral - Price can flatten for a few more days ( unlikely ) and continue on through this very thin trading range of (1.31 % price action)
#2 Bear micro trend - Price can find the next trading range with a (4.00 % drop) into the (Tan Fibs- 0.618 and 0.500), and flatten out again briefly, and even bouncing up against the (Pink Fib 0.236)
#3 Bull micro trend - Price can find the next trading range with a (5.67 % gain) into the (Tan Fibs- 0.786 and 1.000), and flatten out again briefly, and even bouncing down against the (Pink Fib 0.382)
In Order to really start to see a dramatic move with price action will need to reach some further points of interest.
Below I will set another zoomed out picture for this explanation.
#1 Bear Trend is winning .. Price action found its way down to the (Blue Fib - 1.618) or $ 5,855.8 - a (19.40 % drop) although it is supposed to be 19.39 %
#2 Bull Trend is winning .. Price action found its way up to the (Tan Fib - 1.618) or $ 8,102.9 - a (14.41 % gain)
Although I don't study numerology I do understand its psychological effects for trading, on traders, and these are duly noted and strangely common on this chart of price action. --- Good Luck Trading and Enjoy your upcoming Holidays !!!