CME Bitcoin Futures downswing Fibonacci retrace

10 Oca 2019

Continuing from my previous chart. Fibonacci downswing retrace is always 61.8%

• All vertical lines are the CME Bitcoin Futures expiry dates
  
• Each orange vertical line, shows a CME date that was preceded by a bounce
  
• Following those dates (orange), there is a short retest of the recent high
  
• The price then drops all the way back down to test the start of that bounce
  
• After testing the lower trendline, the downswing Fibonacci retrace is always 61.8% (to meet the upper trendline)
  
• This cycle repeats until the price breaks down to a lower plateau trendline