52,838 and 06 cents: BTC Golden Genesis target after 49k breaks
Updated
49,080 coinbase is the key "floor" to claim.
From there it is a significant jump to next fib.
52,838 is a "Golden" fib, strongest one around.
PROBABLE that we "Orbit" the 49k fib until new week.
POSSIBLE that we get a pullback from 49k before break.
PLAUSIBLE that we blow straight through 49k then retest.
This is a followup to my post about 42k being the most important area of this bull run:
================================================================================================
.
From there it is a significant jump to next fib.
52,838 is a "Golden" fib, strongest one around.
PROBABLE that we "Orbit" the 49k fib until new week.
POSSIBLE that we get a pullback from 49k before break.
PLAUSIBLE that we blow straight through 49k then retest.
This is a followup to my post about 42k being the most important area of this bull run:
================================================================================================
.
Note
Orbiting the fib over the weekend, as seen on the Hourly: Zoom IN (1min)
Clearly a "high gravity" level and precisely sensed by the market.
Of note, the "perigee" of the orbit is clearly ABOVE center.
BUT expect some time BELOW whether brief of extended.
We are about 10 hours before US markets open new week.
Lets see which direction we exit the orbit.
================================================================================================
.
Note
Orbit exited, almost at destination: Hovering just below 52k after a couple of nice moves off the 48,090 fib.
================================================================================================
.
Note
Here we are: Zoom to 1min
Thus my respect for the Golden Ratio
Note
52.8k fib made its presence known Price smacked it and is now staggering as if it hit a brick wall.
Zoom IN (5 min) for a closer look at the fib
It was clearly noticed and EXACTLY.
It is quite possible that we revisit to confirm.
In the meantime, I have posted a new Idea with near term support zones:
====================================================================================================
Note
Definitely hit a ceiling at 52,838 exactlyAnd still Staggering from hitting that wall.
Zoom IN (5min( and add a red fib set of wave
down
the 6.853 at 51,289 was expectable, and was almost hit.
Would not be surprised if we come back and ping that fib.
Currently Friday at market close (stocks),
heading into a 3-day weekend in the USA,
so lets see if any tricky moves happen next.
====================================================================================================
.
Note
Thus my Respect for Golden fibs. Dip is gaining momentum with a significant leg just now.
Zoom IN (15min) with above Red fib included
====================================================================================================
.
Note
Here we are again:Zoom IN (15min)
double tap this far and rejection both times
Zoom IN more (1min)
near perfect Ping on the Golden fib.
Looks like it will get through it soon.
So maybe we go into "orbit" after all.
Bulls must move the Perigree ABOVE it,
====================================================================================================
.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.