Before going into the details I'd like to note that this isn't BTC's first rodeo coming back from a dip. Looking at the previous 5 dips, this projection is in line with how it recovers and STAYS PARABOLIC. If this chart is wrong and BTC goes to its .786 at $8,800 support, then I'm selling all my BTC and staying out for a LONG TIME. Because that's a long road to recovery.
That being said, We have a nice road to recovery here with a strong bounce on a .618 level up to $10,800 today. Expecting the pull back to bounce off the strong baseline that's been formed since initial recovery from 6k. This baseline is also perfectly in line with a convergence of FIB levels .5 and .618 This is PERFECT STORM and is a big deal as it will provide a TON of spring and volume to get us out of this structure. The projected FIB extension is based off of market history for levels, but I'm not as sure on those levels. I am bias however that 13888 will be a number we hit very soon in March. Clif High is my homeboy :P
That being said, We have a nice road to recovery here with a strong bounce on a .618 level up to $10,800 today. Expecting the pull back to bounce off the strong baseline that's been formed since initial recovery from 6k. This baseline is also perfectly in line with a convergence of FIB levels .5 and .618 This is PERFECT STORM and is a big deal as it will provide a TON of spring and volume to get us out of this structure. The projected FIB extension is based off of market history for levels, but I'm not as sure on those levels. I am bias however that 13888 will be a number we hit very soon in March. Clif High is my homeboy :P
Comment:
I think its safe to say BTC is not consolidating and is making a new impulse wave instead