{"id":2430,"date":"2020-10-20T18:44:24","date_gmt":"2020-10-20T18:44:24","guid":{"rendered":"https:\/\/afluxcoin.com\/44\/the-bitcoin-price-in-the-long-run%e2%80%8a-%e2%80%8afibonacci-ratios-everywhere\/"},"modified":"2020-10-20T18:44:24","modified_gmt":"2020-10-20T18:44:24","slug":"the-bitcoin-price-in-the-long-run%e2%80%8a-%e2%80%8afibonacci-ratios-everywhere","status":"publish","type":"post","link":"https:\/\/afluxcoin.com\/es\/44\/the-bitcoin-price-in-the-long-run%e2%80%8a-%e2%80%8afibonacci-ratios-everywhere\/","title":{"rendered":"The Bitcoin Price in the Long Run\u200a\u2014\u200aFibonacci Ratios Everywhere!"},"content":{"rendered":"<p>Part 1 of this series of analysis articles introduced Elliott Wave Principle (EWP). The core assumption is counter-intuitive, at first:\u201cThe Wave Principle argues that markets are not driven by fundamentals or news, but instead by \u201csocial mood\u201d \u2014 the collective psychology of all market participants\u201dPlease read Part 1 so you may understand this article\u2019s application of EWP to the long-term bitcoin price chart. Recall the wave count that was proposed in part 1:Elliott Wave count for the long-term bitcoin priceSince 2010 when bitcoin was first traded we can see five waves up to the 2017 market top. Looking at the inset diagram of the idealized EWP market structure, the completed five-wave sequence is labeled (1).The EWP expectation is that three large degree waves should now unfold to a bear market low at the label (2).After wave (2) has completed we then move out of the magenta box as advance progresses in wave (3) \u2014 a prolonged bull market that should be larger than the initial wave (1) we saw up to the 2017 high.All fair and well, you might be thinking, but how do we know when a wave is complete? Do we simply put arbitrary labels at tops and bottoms and hope that we are correct? Fortunately, EWP is more thorough than merely slapping subjective labels on a chart. To truly apply EWP, we must acknowledge that market price is fractal in nature and that waves of price action unfold as ratios of preceding waves. Specifically, the Wave principle requires us to identify Fibonacci ratios in the chart since this is the subconscious guide of human psychology.Our minds find certain ratios pleasing, whether in architecture, in a painting, in music, or in charts. The most pleasing ratio \u2014 the Golden Mean of 0.618 \u2014 is a key Fibonacci ratio.\u2026<\/p>","protected":false},"excerpt":{"rendered":"<p>Part 1 of this series of analysis articles introduced Elliott Wave Principle (EWP). The core assumption is counter-intuitive, at first:\u201cThe Wave Principle argues that markets are<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2430"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=2430"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media\/2431"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=2430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=2430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=2430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}