Fibonacci trend following for Bitcoin & Ethereum
Educational and actionable information
ONE44 Analytics where the analysis is concise and to the point
Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements and Gann squares.
You can get all the rules and guidelines to the Fibonacci retracements on our website.
Bitcoin
In our last update based on the ONE44 Fibonacci retracements we mentioned that it was now above the long term swing point of 42,800, this was 38.2% back to the ATH and that as long as it remained above it we were looking for 61.8% of the same move at 51,200.
The setback from the high made on 8/14/21 went right into a combination of retracements at 43,800. These were 23.6% back to the 7/20/21 low and 38.2% back to the low on 8/5/21. Following the ONE44 guidelines we know that a market that holds 23.6% is extremely strong regardless of how big of a retracement it may be coming off of and that it should go for new highs. It also held 38.2% of the next most important low (8/5/21) and by doing so it should send it to new highs. The rally from that area has now taken it up to 50,500, just short of the 61.8% target at 51,200. With 51,200 being 61.8% we know that a break from this area can send it down to 61.8% (37,600) of where it just came from, however we will watch all the retracements on any break to see just how strong, or weak the market is. The swing point for the current rally is 42,800, this is not only 38.2% back to the ATH, but now it is also 38.2% of this rally. Any break from this area that holds 23.6% at 45,930 keeps the trend extremely positive.
Ethereum
The low back on 7/19/21 was 61.8% (1740.00) back of the ATH and the 2018 low and using the ONE44 guidelines our target from here was 61.8% the other way, this is 3350.00. They came very close to this on 8/14/21 and the break from it held 23.6% back to the 7/19/21 low, keeping the trend very strong. They have now hit 3350.00, being 61.8% a break from here can go 61.8% of where it just came from, this is 2350.00, but as always we will watch all the retracements to see just how weak, or strong the market is. The swing point for this current rally is 38.2% at 2725.00 and any break from this area that can only go 23.6% at 2975.00 keeps the trend very positive. With a solid close above 3350.00 the next target is 78.6% at 3825.00.
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Cryptocurrencies
You can now find our "Law of Vibration" and Fibonacci charts on our website under "CRYPTOCURRENCIES" at the top of the page for FREE.
These will be updated each morning for Bitcoin and Ethereum along with our DSP (dynamic swing point) for the day and targets from it. It will also be updated whenever they hit one of the targets.
Please take a look and pass it on!
