WHEN MIGHT WE EXPECT BITCOIN PRICE TO BOTTOM?
I think even any remaining sceptics can likely agree with what I have been saying on this page for the last week, i.e., that lower prices were coming before higher prices. Now I would like to try to answer the question of when the most likely time to reach the bottom might be.
To do that, I used a Fibonacci accordion to measure time ratios across a 5-hour chart. If any of you do not know what a Fibonacci accordion is, you owe it to yourself to do some research. It is a powerful tool to forecast likely high energy time frames in the future, as well as price support and resistance. IMHO it is far easier to forecast time than price. It may be easier in part simply because time can not go up or down. Many traders use Fibonacci ratios focused solely on price rather than time. I believe that is inefficient at best.
This post was published at Crypto Coins News on December 10, 2014.