Taking the fib retracement (indicator)
from the bottom to the top
you get the 0.618 GOLDEN RATIO @ about $27
- low and behold that's exactly where we found support
Taking the same indicator
from the top to that botton
will give us the GOLDEN RATIO (0.618) at about $57
- this is where price should test
thats about a 35% move to the upside
Now, taking the TREND BASED FIB EXTENSION (indicator)
from bottom to top to the Golden Ratio (0.618
it gives me my take profit levels
0.786 should be used in bear market
(but theres no such thing because the govt keeps printing
)
1.618 should be used in a bull market
in this case $144 is the 1.618
although it can go higher as meme stocks/wallstreetbets tend to do
1.618 plays it safe bc ya know....manipulation and endless printing of money
Q: but @Toro138 how do we know if we are in a bull market or bear market?
A: focus on the Weekly Time Chart and use the 20 or 21 Moving Average
if its over the line predominantly like it is now its a bull market
if its under we are bearish
If the big players are going to go in
these are the levels where they are going to play
Thanks everyone for the support -
if you would to see more like this
or have a particular graph of a stock/crypto in mind lmk
from the bottom to the top
you get the 0.618 GOLDEN RATIO @ about $27
- low and behold that's exactly where we found support
Taking the same indicator
from the top to that botton
will give us the GOLDEN RATIO (0.618) at about $57
- this is where price should test
thats about a 35% move to the upside
Now, taking the TREND BASED FIB EXTENSION (indicator)
from bottom to top to the Golden Ratio (0.618
it gives me my take profit levels
0.786 should be used in bear market
(but theres no such thing because the govt keeps printing
)
1.618 should be used in a bull market
in this case $144 is the 1.618
although it can go higher as meme stocks/wallstreetbets tend to do
1.618 plays it safe bc ya know....manipulation and endless printing of money
Q: but @Toro138 how do we know if we are in a bull market or bear market?
A: focus on the Weekly Time Chart and use the 20 or 21 Moving Average
if its over the line predominantly like it is now its a bull market
if its under we are bearish
If the big players are going to go in
these are the levels where they are going to play
Thanks everyone for the support -
if you would to see more like this
or have a particular graph of a stock/crypto in mind lmk