BitcoinLong
ANALYSIS ON WEEKLY TF
Price has made a steady advance through the growth ratios of 403.5 units magnitude vector from the base 3122.28 price level. The high made at 42000 defines the angle and rotation of this vector.
Its first growth, the 1.4142 expansion defined the 58104.58 price which saw the sharp correction.
The next rotation expands the vector to 2.0 ratio of 403.5
403.5 * 2.0 = 807 units
Trend Angle = Tan Inverse( 388.78/108)
= 74.48 degrees
For the first 1.4142 growth:
403.5 * 1.4142 = 570.63 units
Price Axis = Sin(74.48) * 570.63
= 549.823 units (price scale = 100)
= 54982.2 points
Price then = Base + Expansion range
= 3122.28 + 54982.2
= 58104.58 price level
Time Axis = Cos(74.48) * 570.63
153 weeks
Current Growth = 2.0
Price axis = Sin(74.48) * 807
= 777.5744 units = 77757.44 points
Base + Extension range = 3122.28 + 77757.44
= 80879.72 price level
So current top of the extension is at 80879.72 price level and stop loss can be set below the 0.618 level at 51292.58.
If price will expand further to complete a root 5 range then target can extend to 90055.49 price level.
Trade safe and good luck
Its first growth, the 1.4142 expansion defined the 58104.58 price which saw the sharp correction.
The next rotation expands the vector to 2.0 ratio of 403.5
403.5 * 2.0 = 807 units
Trend Angle = Tan Inverse( 388.78/108)
= 74.48 degrees
For the first 1.4142 growth:
403.5 * 1.4142 = 570.63 units
Price Axis = Sin(74.48) * 570.63
= 549.823 units (price scale = 100)
= 54982.2 points
Price then = Base + Expansion range
= 3122.28 + 54982.2
= 58104.58 price level
Time Axis = Cos(74.48) * 570.63
153 weeks
Current Growth = 2.0
Price axis = Sin(74.48) * 807
= 777.5744 units = 77757.44 points
Base + Extension range = 3122.28 + 77757.44
= 80879.72 price level
So current top of the extension is at 80879.72 price level and stop loss can be set below the 0.618 level at 51292.58.
If price will expand further to complete a root 5 range then target can extend to 90055.49 price level.
Trade safe and good luck
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