So we know that the Golden Ratio number is 1.618, but there are also other Fibonacci numbers that are used in the Fibonacci extension tool; namely the 0.618, 0.786, 1.0, 1.382 levels. In order to predict future price targets or reversal points in an uptrend, we must first identify 3 areas; (1) A swing low (2) a new swing high, and (3) a new swing low.

23/03/2020  · However, we can see that it hit resistance at a 1.272 Fibonacci Extension level which caused the price increase to stall and drop back beneath $7,000 to close at around $6,300. More specifically, Bitcoin was not really above to penetrate above resistance at a bearish .382 Fibonacci Retracement level priced at $6,455, which caused it to fall.

Mind blown: There are two ways in which the current Bitcoin price could have been seen as a price target in the past: $9.50 low on 2012-10-27 connected with $1163.00 high on 2013-11-30: Result $1875.86 $1163.00 high on 2013-11-30 connected with $152.40 low on 2015-01-14: Result $1787.55 Using the $152.40 low from 2015 and applying the 1.618 Fibonacci extension the target is $1787.55.

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Here we can see a very interesting pattern that UJ has been following. Each impulse leg seems to retrace to the .618 or .786 fib retracement. Each impulse leg seems to extend to the 1.414 fib extension. Currently price has found support at a decent level of structure. If this patern continues, we have a nice opportunity to buy the market with three different take profit areas highlighted by.

The first level of bull resistance will be found at the short term 1.618 Fibonacci Extension priced at $11,176. If the price succeeds over this level of resistance, then it could rise until it hits more at $11,480. Either way, the markets are seeing greater publicity and interest to buy and sell Bitcoin.

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