Ahem...we pierced 61.8 Fib retracement, next stop 78.6%.
Not sure if to calculate from just the top ($19780) or from the prior move (1160 to 19780=18620 points).
If the latter, then it is $15795; if the former, then $15547.
Not sure if to calculate from just the top ($19780) or from the prior move (1160 to 19780=18620 points).
If the latter, then it is $15795; if the former, then $15547.
Proper Fibonacci retracement levels:
https://bitcoinnewsmagazine.com/wp-content/uploads/2015/10/bitstamp-btcusd-Jun-26-2019-16-21-26.png
thanks for the accurate numbers. I see that it is counted from the decline, not from the previous run-up.
yet, the numbers are similar (16.1 vs 15.8K).
Interestingly, GBTC premium actually decreased today to 27.8%.
again two possibilities:
1. Maybe ETF is about to be approved.
2. It predicts an incoming correction.
again two possibilities:
1. Maybe ETF is about to be approved.
2. It predicts an incoming correction.
Is anyone bothering to monitor a correlation with the premium? I presume it's considerably less liquid than the conventional markets so some spikes may not be all that logical.
I do, but very infrequently. Previously, large run-ups in GBTC premium indicated a sharp short-term btc correction, like in mid June 2016, when premium was about 100%.