The price was rejected in the past months from the 78.6 of fibo and then was started the ascending, the general idea is dancing inside the and wait to the fall, the interesting point is independent of the formation, this will be fall into the 78.6 again. and maybe can be rejected (or not).
if see a monthly graph can see a very similar situation like the 1998/99, and then can expect two scenarios:
- the price fall to 78.6 of fibo and expect the rebound for outperform the 61.8 and form a mega ascending the next two years, or:
- the price fall and fall, and down, and down... Like the 1998 testing the 1 of fibo again in the historical minimums.
I prefer think in the first proposal: the stable formation. But only the time will say.