I used fib on time scale to measure the cycle and to tear up the fractal into different stages of the market. These proportions most likely can be applied to the case happened in recent 2 years.
Consider the M shape on the bottom that implies that market has lost its bearish incentive, can't fall anymore and is about to reverse its direction.
Consider the M shape on the bottom that implies that market has lost its bearish incentive, can't fall anymore and is about to reverse its direction.
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0.786 fib retracement = around 4K
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How bears view BTC
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Accumulate as the price moves closer to the level of 0.786
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Relevant
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Crossing above the curve once more is a bullish sign, as well as entering green area.
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Yellow area similar behaviour
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Nice Fibonacci tune of fractal
