This is a fib circle that I drew in 2019 and titled it "BTC by the end of 2020". It predicted two paths, euphoria and depression and the euphoria path won. Now I predict two paths based on the same fib circle and Gann fan. This time I don't predict a drop until 48k. Based on my other ideas linked below BTC still moving up for a while.
48k is the measured move of the falling wedge in the chart that BTC broke out of in January and has just retested. We notice that at 48k there is a fib circle around June. Price might slide down to 11.8k along the Gann fan line that intersects the fib circle at 48k. Price sliding down the Gann fan line happened in April 2022, August 2019 and January 2018.
Or BTC can go parabolic and reach 200k in mid-2024 which bodes well the lengthening cycle theory.
Great idea thanks. Could you explain how 48K is the measured move of the falling wedge ? - so I can chart it myself. Thanks.
nagihatoum
⋅
@dRends35, Hello, 48k is the second pivot touch of the falling wedge. The first pivot formed the base.
dRends35
⋅
@nagihatoum, Thanks for that. And how to you actually calculate 48K ?
nagihatoum
⋅
@dRends35, here you go friend, first pivot touch of falling wedge after the base, or second pivot, first being the base. There is no calculation just a straight line exactly at 47.6k.