I was looking at the BTCUSD chart earlier and I noticed a similarity between the last 2 big moves. You can see each part on the chart.
I took the bars pattern tool and applied it to the first bottom and the last bottom. I then scaled it to match the size of the most recent move and overlayed it and... it fits pretty well. And look where it ends? Right on the trendline.
To make it even stranger, 190 bars is almost a 0.618 retracement of 298. 190/298 = 0.6375
298*0.618 = 184.164
That puts it 6 candles or 12 hours out. Spooky...
And of course, the first run up retraced by 0.605.
I'm not sure if this will play out but it will be cool if it does. Let me know what you think!
Happy trading:)
I took the bars pattern tool and applied it to the first bottom and the last bottom. I then scaled it to match the size of the most recent move and overlayed it and... it fits pretty well. And look where it ends? Right on the trendline.
To make it even stranger, 190 bars is almost a 0.618 retracement of 298. 190/298 = 0.6375
298*0.618 = 184.164
That puts it 6 candles or 12 hours out. Spooky...
And of course, the first run up retraced by 0.605.
I'm not sure if this will play out but it will be cool if it does. Let me know what you think!
Happy trading:)
