Let me start off by saying I hold a very small position in Ethereum, and do not think that Bitcoin will be the currency of the future. However, I came across this built-in ratio and couldn't resist playing around with Fibonacci time-zones to see if anything interesting popped up. The (potential) results I came across shocked me, so I thought I'd share them here...
With gold being in consolidation mode for a few months, this is a potential path out of the bull flag and trend it's trading in. I've drawn ideal support backtests with little flushes below to shake out weak hands.
The measured move out of this trend will replicate the move up from our March generation lows, placing the target somewhere in the $2500 range....
