Now that the ELF chart has matured, the Fib levels have been revealed.
The strong/stable levels are • 0.5 USD, • 1 USD, • and 2 USD. (No surprise)
The magnetic/unstable levels are • 1.7 USD, • 1.4 USD, • and 2.33 USD.
As mentioned in other charts, a market wide 50% retrace has been set up. It seems many alt are on supports which would fall 50% until bouncing. Combined with the expectation that BTC has to revisit and the irrational sellouts from alts, a BTC move to 5000 matches the alt setup.
Honestly, I think the idea that it *has* to revisit a very specific price level is ridiculous, but whatever.
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Rip wishful thinking on breaking the 50% upwards retrace. Double bottom it is.
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Grazed the full retrace bottom. If the end-of-March trend repeats we might dance again with the full retrace level before breaking downtrend. Afterwards it's moon for the ages.
Unless it breaks the bottom level, and we make new all time lows across the board!
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Two scenarios are being set up. First, a short term falling wedge is being drawn on many alt charts. Second, depending on how the next few waves are shaped, we could see a either a rising wedge, if we take the peaks, or an ascending triangle, if we trim the wicks.
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Looks like the rising wedge scenario played out. Get me a noose.
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It turns out I cant delete posts, so I'll just spam a donation address. Send me your ETH here 0xF7Dc813B5c746F777DD29c94b7558ADE7577064e.
hiro we made it back to the bottom again now we can moon for real my dude
UnknownUnicorn1038536
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@Razgreez, yes we did. It's starting to look good now. I just really hope no one rains the party and we break support, alts and buttcoin.
oliviermy97
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lmfao fuck u
UnknownUnicorn1038536
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@oliviermy97, "As mentioned in other charts, a market wide 50% retrace has been set up. It seems many alt are on supports which would fall 50% until bouncing." June 7
UnknownUnicorn1038536
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Currently sitting at a pivot. I think it's looking bullish overall, so instead of double bottom we break up.