Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 29/01/2020, 18:50:17 UTC

this level currently does have some impact on the way above because it's the 38.2% retracement from the ATH at $19666 (100.0%) down to 2018 AYL at $3122.3 (0.0%). it's the biggest picture if you zoom out and should have also the most importance.


(*) Bitstamp data timeframe 1w

What is the significance of 38.2% (or inversely 61.8%) retracement?  That 38.2% would be $7,500-ish, right?  Unless you are talking about $12,153 as 38.2% retracement from our $19,666 ATH of 3 years ago?

Currently, aren't we just below 50% retracement, referring to our $9,360-ish price?

I am all for considering getting back to ATH prices, but seems a bit further off, or at least we gotta get past a couple of the more local highs that could provide some resistance in the $10k arena, in the $12k arena and then in the $14k arena... I kind of suspect currently that if we get above $14k, then the next resistance would be approximately in the $17,500 arena.... and maybe even a bit below that.. like $17,200-ish... but besides $300, what is the difference of $17,500 and $17,200 amongst speculator wannabes?