STRICT FIB ANALYSIS
So I made a bunch of lines on the bitscreener advanced charts to see of there were any fib patterns and there is
Run = .363636363
Rise = Previous Fib height is 45-49% of the new height on the next fib.
[Just realized that 100-49=61 and 61 is a significant number in Fib. This has nothing to do with anything]
Here is the macro view of the the chart so far with 2 hr candles.
Past and present…
Looking at the first rise we see the retracement happening to 23.6%, catching support and then gaining.
What you don’t see here is the previous analysis that I did on HYDRO with fib. The pump right before the one with the purple fib lasted 4 bars. This means 4 bars from new high to consolidation bottom. It took 7 bars to make a new all time high again. Just messing around I decided to add the two together to get 11. I decided to measure 11 bars over from the high and it was the candle that confirmed the bottom. This same thing was working for the purple Fib and and I was kind of perplex. I divided 4/11 and got .3636363.
.3636363 is the golden number because it confirms the trend forwards and backwards. I’m not kidding. 4*.36 and 3*.36 look at my math and follow procedure.
Multiplying 7 by .3636363 gives you 19. Can you guess how man candles are in between the start of the purple fib and the beginning of the blue one? 19.
Hint: Multiplying 19 by .36 gives you 52.7
1.08 -1.5 Candles to confirm the trend
Appx. 2.25 Candles to Finish the trend
3 - 4 Candles to confirm the trend
Appx. 7 candles to finish it
10- 11 Candles to confirm the trend
19 - 22 Candles to finish the trend
22 -30 Candles to confirm the trend
52.7 Candles to Finish the trend.
Putting these number in to effect for the future we can assume that it will take 22 candles to confirm the trend.
And it will take 52 - 58 days for HYDRO to see a new ATH if this assumption is true.
My math is below.
This is confusing AF probably to most but I just needed to put this out there for people to see the pattern.