upcoming intersection of bubble retracement + bull channel + ATH

Fibonacci retracement of the entire bubble, from all time high to lowest bounce, shows a very strong trend along the 0.618 line, both during the bubble and now again during the recent weeks-long bull channel rise. Many declines bounced off it and now rallies have started right from it. Thus it's likely the next fib line at 0.764 might play a part in the upcoming intersection of the bull channel on the way to revisit the all time high.

Of note, we are in a zone where falling below the blue boundary of bull channel at all would mean the definitive end of that trend channel and the likely start of a very long-term bearish decline before another attempt on the ATH could be made.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.