BITCOIN Recurring pattern on the short-term Fibonacci Channel

22 апр. 2020 г.

This is a chart for short-term traders and will also keep the analysis short.

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As seen on the chart Bitcoin is trading within a perfect Channel Up with the Fibonacci levels aligning quite well playing the role of Support and Resistance levels throughout. This is an excellent way to play the short-term buy/ sell game.

On top of that see how there is a recurring pattern within the Channel. I have clearly displayed that in alphabetic manner. The set-ups seem fairly symmetrical, the first is wider within the 0 and 1 Fibonacci the second narrower within the 0.236 and 0.786 Fibonacci.

If you are a short term trader, use this to your advantage.