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TIL: The Fibonacci Sequence is predicting the Bitcoin value development correctly, for some reason

TIL: The Fibonacci Sequence is predicting the Bitcoin value development correctly, for some reason



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13 Comments

  1. Maybe fib tool get too used by traders and now when a bunch of they who have tons of money take the same reference and cause that behaviour. What i like of fibonacci is the capacity of trace multiple psychologic stop limits hoping for a reversal y every one.

  2. Ah the classic astrology of finance, technical analysis. I love how in the picture there are areas shaded that supposedly show some price action or significance of that price point, but you can see that between the 100% and 161.8% there’s a point in time where the price goes sideways which for some reason is significant at 61.8% but not then. Then it also spends barely any time at 161.8% but for some reason that is also significant in its own way.

    Pure nonsense lol

  3. Do they do those Fibonacci in coffee flavour? Seriously – humans just can’t help themselves but find patterns in things – now this pattern is fascinating to see in nature, but drive the market… nope.

  4. The fibonacci sequence appears in nature where efficiency is required, so if I had to guess I’d say it has something to do with the miners maximizing their gains before the next halving.

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