A possible area where Bitcoin might hold up during this sell off
The Golden Ratio Multiplier might be worth paying attention to
If I find a trading tool or indicator that has been accurate a large percentage of the time, I pay attention to that indicator.
That is pretty much what I am seeing right now with the Golden Ratio Multiplier as it relates to bitcoin.
It was a great support spot a few months ago and proved to show pretty much the exact top the other day.
Sees:
Based on this model, it looks like we should see pretty strong support around the $16k area.
Below that there is strong support in the $13k range.
I suspect bitcoin will no break both of those supports.
Everyone was saying we were going to smash through all time highs, I was locking in profits as we ran up.
If we dip much further I am going to put it back to work and look crazy like a fox.
Rinse and repeat.