I got this concept from EuroMotif and his amazing research on fibs. I'm putting this here to see if I nailed the concept. I took the top of bitty and plotted an impulse down. I also marked some fib pings along the way. Based on his concept, there should be a major reaction once it hits the zone I've marked as the impulse, particularly the impulse core around 56,400K and 59,600K. Assuming that the bottom of the zone is cleared, there should be an strong drop from the impulse core level, as the bears have max strength in this range. However, if the bulls are able to flip the impulse zone from resistance to support, bitty should take off from the top of the impulse zone. I put arrows to show what I think might happen. These arrows are just speculation, as I'm still learning all this stuff. Actually all of this is speculation but I digress...
If the bulls eventually take the top of the impulse and bitty goes for a new ATH, I'm still stickin to that 72 or 74K target for the next move. This number comes from one of my earlier ideas playin with fibs. The eth one I did far surpassed the 2200 target from my earlier fib practice, so I'll see how it goes...
If the bulls eventually take the top of the impulse and bitty goes for a new ATH, I'm still stickin to that 72 or 74K target for the next move. This number comes from one of my earlier ideas playin with fibs. The eth one I did far surpassed the 2200 target from my earlier fib practice, so I'll see how it goes...
Comment:
BEAUTIFUL to see the price heading down like my first arrow said. I'm quite amazed at this...I'm gettin better at this than I thought hahaha.
Comment:
Woooow...it's still followin the arrows! I'll keep watchin to see if this plays out as far as the impulse zone. Puttin in the work to learn this on your own is MUCH better than waitin for signals from a Youtuber or a Telegram group imo...