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August 9, 2022
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Guide & Analysis

Bitcoin Fibonateou! – Understand in the Graph!

2 exact points and why: Bitcoin Fibonateou

Calm down, we didn’t come to create new words; it is just to say that Bitcoin reached 2 Fibonacci points, the first at 61.8%, as was said in the previous analysis, and then the correction at 38.2%.

Graph by Trading.view

The projection in the first Fibo point was accurate and the correction in support of fibonacci and also on top of EMA89 touching 4 x with rising funds, leaves the consolidated upward trend.

Bitcoin Fibonateou on top; does it seek previous top?

In the last move, the BTC appears to form a symmetrical triangle, making upward bottoms and with the last top looking downward from the previous one. But as prices were above the averages (mainly from EMA89 – the black one) I believe it is about consolidating the upward trend.

At this point, YES, I believe in a retest of the previous top and if that happens, breaking through that zone, we keep the same fibonacci point.

That target would be the projection of 100% fibo in $ 72,150; very optimistic but if you continue to follow the Fibonacci points, we can think about it.

Analysis of CointradeCx
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