fib levels; unwritten rule
Updated
Sometimes you can predict market moves by price and S-D logic. Gold consolidated at 2500$, that works as a natural fib level? ie if market (SD dynamics) is strong enough -> either 3000$ is possible or 2500$ stays the limit. Bitcoin around 75k figures out which side is stronger --> does 100k make sense or 50k is greater. Which side market leans towards most - wins. ♟️
Note
in 2021- BTC push above 60k..; if price wasnt strong enough - 100k doesnt make sense and it retraces back to 50k? strong 50k PA would mean 100k is next target.
(in 2021 it fall down to 30k. weak support at 50k)
losing the 50k level (2021) meant 0$ (direction) was on table?
Note
oscillator principle. Note
markets likes "round" numbers or rounded. Like 48$ rounds up to 50$.
When SPX is in 4700$ range, next rounded benchmark is 5000$.
Trade active
BTC 92k.
we look for strength or weakness in demand? If market weakens around 100k, 100k is the top? weakening at 120k means it goes back to 100k. that's how Fibonacci works (round numbers).
Trade closed: target reached
solid rally to round 100k. like theory states
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