Here was a rare example of "Golden Growth", and retracement. Most Fib expansions are "Linear", such as 2.618, 3.618, 4.618, etc. BTC had two "Golden" or "Parabolic" waves, 2.618, 4.236, 6.853, etc.
Now we have retraced most of the second parabolic wave. EW'ers would label this a "Wave 5" retracing to "Wave 4". If the uptrend is to last, Bulls most hold the "Impulse Core".
"Impulse" is a surge that creates "Ripples", like a pebble into water. "Impulse Redux" is returning of wave to the original source of energy. "Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the buyers still there? Enough to absorb the selling power? Reaction at Impulse is worth observing closely to gauge energy. Rejection is expected on at least first approach if not several.
This is part my ongoing series to collect examples of my Methodology.
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Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water. every Pebble bears its own Ripples, gilded of Ratio Golden. every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity . each line Tried and Tested. each line Poised to Reflect.
every Asset Class behaves this way. every Time Frame displays its ripples. every Brain Chord rings these rhythms.
He who Understands will be Humble. He who Grasps will observe the Order. He who Ignores will behold only Chaos.
Ordered Chaos
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Impulse Core hit as expected Holding for now but the bounce is nothing impressive yet,
Zoomed in on the Core The Precision is impressive, even if the bounce is not ...
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Still lingering in the Impulse Core, and rather Precisely But is not a good sign for bulls, that they are still stuck down here, that first bounce should have launched it back up but did not ....
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Wow, the Impulse Core held through multiple attacks, and looks to have launched the next wave up.
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Yet one more Launch from the Impulse Core Will this one take?