At the bottom of the Pitchfork it gaps to the Fib Retracement level of 0.786
0.786 Can be the Bottom and fill the gap back up, Retest Correction Point B.
Bitcoin looks like to be making a top just like Ethereum and some other ALTs that have followed Bitcoin.
Beware not all ALTs will go up.
Out of it's falling wedge, Allot of support around 0.27/0.28
Pitchfork guider whit fibb levels, whit and fib extension target to VPVR Level
If it falls under the Red line A Bearish Scenario could play out.
You can see where it has retraced too, where it bounced off from, and how it is holding it self from the right lines.
Elliot Waves structured into a bullish scenario.
TTM Squeeze: Lots of red dots (Bollinger band in keltner channel), it has to go up or down soon.
It has to hold above the Red or Green line to be full Bearish or Bullish.
Before a run, is where I place the fibonaci retracement,
you extend it whit 3.618
than it comes down to 1.618
than it catapults to 40.618,
than I see a retracement to 12.618
and it consilidates for the next run up, and the same method applies
don't use the 3.168 and the 1.618 as an ultimate highest or lowest measurement, it's on a daily chart and I haven't...
The fibonaci sequence height of the falling wedge down to the lowest point of the bear cycle, shows that the 0.618 fib is the same as the hightest point before the last run up, so it act as an important resistance.
The resistance support starts from the same value area we were at before te last run up of the previous bullrun.
The bottom support falling wedge also starts at the same area. It comes down to pricesly what was the lowest buying opportunity.
It could be an indication where this market could run up to for it's firt leg up whit the fib retracement to higher the...
+ whit a view fib retracement into the future as an example.
In the historical data some fib sequences have been removed, to give a better view on the sequences that where important in the particular Fib retracement.