CME Bitcoin Futures downswing Fibonacci retrace

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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

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