Bitcoin Is On A Ledge - Looking For The Next Move Using Fibonacci Retracements by coinlogic.online

View this thread on: hive.blog | peakd.com | ecency.com

leofinance · @coinlogic.online · Dec 6 '22

$6.54

Bitcoin Is On A Ledge - Looking For The Next Move Using Fibonacci Retracements

![Screen Shot 2022-12-06 at 8.38.43 AM.png](https://files.peakd.com/file/peakd-hive/coinlogic.online/Eo1vNUtzGaBQqUek7BY4gppWmYbpUC8NGgJYkL5cT3eiudUwaCtdr56DG8QUHWNwDFe.png)

We are back looking at the Bitcoin market and noticing that Bitcoin is hanging out on a ledge and we are waiting to see if it is going to fall off or keep building structure to continue a march upward.

Looking at the chart on the left hand side you are looking at the 15 minute time frame and the 4 hour time frame on the right. Price action has seemed to level out on the POC (point of control) of this volume zone. This means that this is the level that the market is finding as fair value.

But as we all know, Bitcoin likes to bounce or rip through fair value at times. We can see that the price is finding some serious support at the current levels. The Fibonacci retracement measurement shows that Bitcoin is finding support on the .382 support level. This indicator is amazing at finding support and resistance zones that traders can use as a measurement to base their moves. Finding support on this level is bullish. If we can hold this level and continue to rise, Bitcoin can see 19K again before we know it.

But... playing Bear's advocate here, if we make drop down to lower levels, we could see more downside. The big tell will be if we do drop further, that we hold the 'golden pocket' of the .5 and .618 levels. Bitcoin really does like this zone, and if it holds and we bounce, then it's going to be some good times in the short to mid-term.

All we can do is take the data as it comes in and base our probabilities on this data so we can make the best decision for our trade.

What are your plans? Are you buying, selling, or holding Bitcoin at these levels?

![CL dividers-02.png](https://files.peakd.com/file/peakd-hive/coinlogic.online/23swdsDTbYUwBsWsSL1oTosciQV9FHNvjBMqdaKhwZdByyuqrZwsZzUrEmctXzy49fagQ.png)

Nothing said is financial advice.

This is for educational and recreational purposes only!

Stay safe in these volatile markets and don’t get rekt!

Follow the markets and get the latest data and news on [Coin Logic](https://coin-logic.com)

Any videos will be posted to Coin Logic TV on YouTube in addition to 3Speak:
https://www.youtube.com/coinlogictv

Trade with me on [Apollo X on BSC](https://www.apollox.finance/en/invite/ref/2000000070413)

![CLBannerNew.png](https://files.peakd.com/file/peakd-hive/thelogicaldude/23tRtgRxgRh3KuxJVHCoXAyNAkVUQTivt7ajP6DchuaTQCVUap2iDtNtU5bNBtAtkBTfG.png)

👍 edicted, taskmaster4450, taskmaster4450le, pouchon, dagger212, bitcoinflood, mightpossibly, shmoogleosukami, hivehustlers, iansart, cyrusemerson, hivelist, lbi-token, r1s2g3, thelogicaldude, maddogmike, jagoe, canna-curate, mytechtrail, cyemela, hykss.leo, adambarratt, onealfa, filmmaking4hive, myvest, ganjafarmer, opinizeunltd, bengiles, susie-saver, vempromundo, hope.venezuela, ew-and-patterns, eliel, anarcist69, fredhill, chunkysoupsvc, l337m45732, rohansuares, agr8buzz, the.rocket.panda, hivebuzz, rodent, groove-logic, amberyooper, uruiamme, jglake, mobi72, courtneyjensen, zerofucks, eddie-earner, apokruphos, elamental, jeffjagoe, appalachain, manncpt, deeanndmathews, anosys, athunderstruck, unyimeetuk, globalcurrencies, improbableliason, hive-169313, kind.network, besheda, and 56 others

`author`	coinlogic.online
`permlink`	bitcoin-is-on-a-ledge-looking-for-the-next-move-using-fibonacci-retracements
`category`	leofinance
`json_metadata`	{"app":"peakd/2022.11.2","format":"markdown","tags":["leofinance","trading","charts","bitcoin","fibonacci","retracement","levels","proofofbrain","coinlogic","hivehustlers"],"users":[],"image":["https://files.peakd.com/file/peakd-hive/coinlogic.online/Eo1vNUtzGaBQqUek7BY4gppWmYbpUC8NGgJYkL5cT3eiudUwaCtdr56DG8QUHWNwDFe.png","https://files.peakd.com/file/peakd-hive/coinlogic.online/23swdsDTbYUwBsWsSL1oTosciQV9FHNvjBMqdaKhwZdByyuqrZwsZzUrEmctXzy49fagQ.png","https://files.peakd.com/file/peakd-hive/thelogicaldude/23tRtgRxgRh3KuxJVHCoXAyNAkVUQTivt7ajP6DchuaTQCVUap2iDtNtU5bNBtAtkBTfG.png"]}
`created`	2022-12-06 16:52:12
`last_update`	2022-12-06 16:52:12
`depth`	0
`children`	3
`last_payout`	2022-12-13 16:52:12
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	3.282 HBD
`curator_payout_value`	3.262 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	2,512
`author_reputation`	28,007,722,835,834
`root_title`	"Bitcoin Is On A Ledge - Looking For The Next Move Using Fibonacci Retracements"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	118,900,346
`net_rshares`	13,906,625,793,266
`author_curate_reward`	""

properties (23)vote details (120)

voter	rshares	pct
onealfa	41,745,039,249	6.66%
mammasitta	775,661,440	0.3%
jeffjagoe	2,829,561,427	0.2%
alz190	804,186,474	20%
anarcist69	11,578,767,447	5%
elamental	3,055,825,537	6.6%
appalachain	2,606,868,043	5%
pouchon	656,371,579,589	20%
ganjafarmer	30,177,924,786	25%
lizanomadsoul	1,668,334,261	2%
thatsweeneyguy	615,832,077	100%
l337m45732	10,459,389,792	20%
batman0916	1,030,390,834	7.5%
amberyooper	6,734,402,652	20%
iansart	160,958,411,639	50%
opinizeunltd	25,428,475,863	50%
eliel	12,489,812,138	5%
uruiamme	6,029,869,236	60%
bitcoinflood	502,789,615,904	21%
ew-and-patterns	12,952,058,244	5%
agr8buzz	8,725,581,121	100%
derekrichardson	624,666,434	1.5%
adambarratt	46,097,775,014	40%
unyimeetuk	2,132,439,256	50%
taintedblood	571,365,758	5%
taskmaster4450	2,867,412,851,197	100%
rodent	7,787,265,680	36%
dagger212	605,704,127,682	75%
mightpossibly	373,087,699,118	100%
bluntsmasha	1,005,222,749	8.5%
mytechtrail	55,799,333,174	50%
fixedbydoc	1,195,814,808	2%
vempromundo	14,960,659,651	100%
r1s2g3	82,891,724,137	15%
edicted	5,909,224,811,510	100%
manncpt	2,505,696,095	2%
shmoogleosukami	296,146,852,731	100%
natha93	554,677,976	5%
jagoe	72,738,530,914	24%
jglake	5,676,157,626	20%
tonytrillions	1,761,132,179	60%
sapphic	1,192,334,715	5%
racibo	1,875,416,467	5%
cyemela	50,259,493,896	100%
meanbees	1,396,183,370	1%
globalschool	1,028,179,428	1%
veteranforcrypto	1,109,507,186	5%
crystalhuman	739,718,241	100%
motherofalegend	1,467,094,423	5%
truthabides	957,886,382	5%
the.rocket.panda	8,678,331,017	100%
konradxxx3	558,179,111	5%
ambiguity	937,226,275	2.5%
cyrusemerson	130,178,499,013	100%
jk6276	1,242,290,927	40%
mobi72	5,314,253,512	30%
teamoregon	537,929,252	50%
bengiles	20,354,588,379	2.5%
canna-curate	62,418,944,974	10%
darkprince66	512,684,969	100%
canna-collective	643,100,323	2%
bonnie30	593,905,283	50%
courtneyjensen	4,836,575,329	100%
athunderstruck	2,202,816,784	5%
kind.network	1,934,147,228	50%
besheda	1,887,859,652	50%
anonsteve	529,990,990	50%
apokruphos	3,635,092,636	1%
broxi	997,607,530	5%
bluemaskman	1,118,286,284	5%
thelogicaldude	77,673,977,798	90%
adamthedude	894,739,951	100%
chunkysoupsvc	10,575,911,671	100%
deeanndmathews	2,404,898,147	50%
weedcash	527,785,547	3.3%
anosys	2,375,878,723	90%
mindtrap-leo	926,566,441	40%
trichomesnetwork	1,087,467,434	100%
taskmaster4450le	944,652,462,906	40%
maddogmike	73,600,592,768	50%
hope.venezuela	14,116,025,577	50%
adcreatordesign	4,451,471	25%
groove-logic	7,213,138,571	100%
hivebuzz	7,835,653,069	2%
politicalhive	911,675,927	100%
thepeakstudio	1,099,180,167	50%
globalcurrencies	2,117,641,623	28%
hivelist	109,638,033,555	50%
hive-169313	1,970,174,381	100%
hivehustlers	195,025,935,196	100%
ykroys	570,732,868	100%
improbableliason	1,998,932,358	50%
martial.media	1,151,049,599	25%
eddie-earner	4,409,404,722	40%
elricmoonslayer	679,687,842	50%
rohansuares	9,985,066,627	100%
chubb149	1,294,635,827	6%
lbi-token	107,237,222,425	40%
libertytokens27	626,226,910	100%
susie-saver	19,324,922,681	100%
myvest	33,514,919,719	100%
hykss.leo	48,847,479,404	6%
timmy-turnip	915,487,879	15%
awakening-along	764,230,613	10%
holovision.list	363,347,774	50%
rpren	613,943,634	50%
robmojo.leo	667,584,947	20%
hankanon	1,019,819,472	20%
jocieprosza.leo	1,438,042,198	40%
uncorked-reality	1,803,231,503	50%
svanbo	1,587,496,630	5%
leoalpha	439,123,477	50%
saboin.weed	1,593,278,714	17.5%
woodathegsd	491,412,910	5%
zerofucks	4,620,933,773	100%
wannatrailwithme	1,667,598,142	50%
fredhill	10,730,981,009	100%
filmmaking4hive	33,673,864,385	100%
sabajfa	1,527,047,646	20%
kam5iz	1,571,381,637	16%

@hivebuzz · Dec 6 '22

Congratulations @coinlogic.online! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@coinlogic.online/upvotes.png?202212050804"></td><td>You distributed more than 48000 upvotes.<br>Your next target is to reach 49000 upvotes.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@coinlogic.online) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>


To support your work, I also upvoted your post!


**Check out the last post from @hivebuzz:**
<table><tr><td><a href="/hive-102201/@hivebuzz/wc2022-recap-r16-day3"><img src="https://images.hive.blog/64x128/https://i.imgur.com/uNPMgnd.png"></a></td><td><a href="/hive-102201/@hivebuzz/wc2022-recap-r16-day3">HiveBuzz World Cup Contest - Round of 16 - Recap of Day 3</a></td></tr><tr><td><a href="/hive-139531/@hivebuzz/proposal-2324"><img src="https://images.hive.blog/64x128/https://i.imgur.com/RNIZ1N6.png"></a></td><td><a href="/hive-139531/@hivebuzz/proposal-2324">The Hive Gamification Proposal Renewal</a></td></tr><tr><td><a href="/hive-122221/@hivebuzz/pum-202211-delegations"><img src="https://images.hive.blog/64x128/https://i.imgur.com/fg8QnBc.png"></a></td><td><a href="/hive-122221/@hivebuzz/pum-202211-delegations">Our Hive Power Delegations to the November PUM Winners </a></td></tr></table>

###### Support the HiveBuzz project. [Vote](https://hivesigner.com/sign/update_proposal_votes?proposal_ids=%5B%22248%22%5D&approve=true) for [our proposal](https://peakd.com/me/proposals/248)!

properties (22)

`author`	hivebuzz
`permlink`	notify-coinlogiconline-20221206t172149
`category`	leofinance
`json_metadata`	{"image":["http://hivebuzz.me/notify.t6.png"]}
`created`	2022-12-06 17:21:48
`last_update`	2022-12-06 17:21:48
`depth`	1
`children`	0
`last_payout`	2022-12-13 17:21:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	1,756
`author_reputation`	367,850,647,055,265
`root_title`	"Bitcoin Is On A Ledge - Looking For The Next Move Using Fibonacci Retracements"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	118,901,062
`net_rshares`	0

@the-bitcoin-dood · Dec 6 '22

I'm watching, waiting. I've been trading a little of the LTC chop. LTC is so unpredictable though. Also started to DCA into a couple projects Iike. Focusing on DEX coins and Metaverse related stuff.

👍 coinlogic.online

`author`	the-bitcoin-dood
`permlink`	re-coinlogiconline-2022126t135954299z
`category`	leofinance
`json_metadata`	{"tags":["leofinance","trading","charts","bitcoin","fibonacci","retracement","levels","proofofbrain","coinlogic","hivehustlers"],"app":"ecency/3.0.35-mobile","format":"markdown+html"}
`created`	2022-12-06 18:59:51
`last_update`	2022-12-06 18:59:51
`depth`	1
`children`	1
`last_payout`	2022-12-13 18:59:51
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	198
`author_reputation`	171,210,690,731,123
`root_title`	"Bitcoin Is On A Ledge - Looking For The Next Move Using Fibonacci Retracements"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	118,903,323
`net_rshares`	14,739,653,604
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
coinlogic.online	0 B		14,739,653,604	47%

@coinlogic.online · Dec 7 '22 (edited)

$0.03

I am basically going back to POW maxi beyond Hive. BTC, LTC, and Monero. Hive is proof of work, just actually working with your brain

👍 the-bitcoin-dood

`author`	coinlogic.online
`permlink`	re-the-bitcoin-dood-rmj69l
`category`	leofinance
`json_metadata`	{"tags":"leofinance"}
`created`	2022-12-07 17:08:09
`last_update`	2022-12-07 17:08:45
`depth`	2
`children`	0
`last_payout`	2022-12-14 17:08:09
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.016 HBD
`curator_payout_value`	0.016 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	134
`author_reputation`	28,007,722,835,834
`root_title`	"Bitcoin Is On A Ledge - Looking For The Next Move Using Fibonacci Retracements"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	118,927,746
`net_rshares`	71,955,130,700
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
the-bitcoin-dood	0 B		71,955,130,700	32%