circle made from june-nov bottom has acted as strong support and resistance. we're there now. spiral made from same bottom has also been stronk - it's started deviating from circle so resistance is around 28.5 here, maybe a wick? or could just be following the circle
it could always break thru - trendlines are made to be broken and it's been such a strong move off the 200W MA aka bull market support band - and even if it rejects it doesn't spell doom necessarily, as long as that support holds. it's just the range as it's curling around. could also flirt at the top while alts have some fun.
I guess we'll know the direction it wants to face after weekly close
Connix
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Great prediction bud! 28500 hit resistance 🔥 need to look into fib spirals! also a 1.414 fib from recent high to low on my chart 🔥
FinanciallyCodependently
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@titchyman_17, thanks bro! yeah it worked out! but i think it's just sort of ranging like it did in the previous couple (especially first) drives here, giving alts time to have some big moves. on the first drive especially it really hugged the spiral for a while in a pretty tight range between it and where i put the white circle (it's the same circle made from the same bottoms as in the original post) that probably bled a lot of people out looking for an immediate breakout or big dump. looking at a bunch of stuff suggesting 4/20ish would be the top top before potentially a bigger move down (i think it will range between spiral and max red circle til then, with potentially ranging not that far down)
here's the live chart if you want, one thing you can do is copy and paste and move those circles (and harmonics of them) around to find other support and resistance trend"lines" tradingview.com/chart/6ovKtxJ8/
the red one is the white one * 1.732 (square root of 3, seeing it so often lately, not in harmonic patterns but in pricetime fibs)