Bitcoin and Fibonacci Spirals

Today was a lackluster day for both ethereum and for Bitcoin.  Each of the various cryptocoins I follow had such a boring day.  This leaves me in a bit of a pickle, because all I can really write is:  “Read yesterday’s column.  Nothing has really changed.”   This is not the sort of column likely to garner much interest.

I will show the updated charts for reference, and then we will take a cruise down a path we have not looked before. Let’s start with bitcoin’s daily chart:

1123a1123aAs we can see, pricetime is working it’s way through the 3rd arc pair.  It is making progress, but if it continues moving sideways it will not clear the arc pair for another week.

Next is Ethereum’s daily chart:

1123b1123bHere I have drawn a pitchfork on the Aug 2015 low, the June 2016 high, and Aug

Read more ... source: CryptoCoinsNews

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