Bitcoin Price Fibonacci Analysis by coininstant

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bitcoin · @coininstant · (edited)
$3.33
Bitcoin Price Fibonacci Analysis
![btc-closeup.png](https://steemitimages.com/DQmUfcWHCz1y9x9ctGoaHmRFn5EMXSgCK95CXjJVQuH6yX3/btc-closeup.png)
### It has been a while since I analyzed the Bitcoin chart.  I just checked out the price on [BitcoinWisdom](https://bitcoinwisdom.com) and used their handy tool to pull a fibonacci retracement to see what price I should stock up next!
(https://bitcoinwisdom.com)![btc-high-prob-trade-08-21-17.png](https://steemitimages.com/DQmViKyCjNePK72afMPWJUTKJNBygagFjDyPfKxWK1WHE8y/btc-high-prob-trade-08-21-17.png)
### The tricky part is figuring out where to anchor the fibonacci, from the bottom of the troughs, or the peaks.
If you pick the wrong anchor, in this example it could mean the difference of $500 / coin! Since the price of Bitcoin has been rallying so much of late, I have pulled the fibonacci from high to high.  I highlighted the high probability buy price in green, it is 3747! Since a lot of traders will be watching this area, expect there to be a large front run, of $50 - $100, so even the range of $3800-$3850 is good enough for me to start adding more Bitcoin! However if we don't see a bounce then we could be heading for $3200! ![all-the-way-back.png](https://steemitimages.com/DQmUinEL1jgdXhFNPdhFGztvGFKoTYDcBFSYn5LxzpP1H8W/all-the-way-back.png)


### If you like this cryptocurrency post please up vote and follow me @coininstant for more!
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vote details (40)
@farhannaqvi7 ·
$0.35
The unprecedented rise in the BTC-USD market to near $3,000 even caught many of the more bullish traders by surprise. However, this quick rise in value did not come cheaply: once BTC finally ran out of steam, the market correction not only affected BTC-USD prices, but it was felt throughout the entire crypto-space as entire market cap took a massive plunge from $49B to $36B over the course of three days.
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@ahlawat ·
$0.34
Nice, i like it the your post, thanks
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@piyushkansal ·
$0.35
I like to more about crypto-currency. thanks for your sharing..
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@steemking777 ·
$0.38
bitcoin-price-fibonacci-analysis-comment
great post, as usual!
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@ionlysaymeep ·
$0.15
meep
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@irfansardar ·
$0.30
Nice Fibonacci analysis  @coininstant followed you.
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@barca ·
$0.29
Bitcoin wil skyrocket again & again
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@blazing ·
$0.30
do you think a major Correction is Still Pending ??
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@coininstant ·
$0.13
No, I think that was it!
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@machhour ·
$0.25
Bitcoin is a long term invest , this is just the begining
bitcoin is unstopable:)
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@brothermic ·
$0.26
amazing with all those theorys.. bitcoin will rise somewhere at the 2nd part of this week is my prediction :)
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@prashantahlawat ·
$0.25
sir ji good morning 
bitcoin best prices
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vote details (1)
@filzaart · 
very nice post @coininstant
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@zoef · 
I hope you are right. On the other hand fibonaci does not calculate real life :)
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@gabato ·
$1.76
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@gabato ·
$1.90
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@brustel · 
Keep sharing such content.
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