Using a Fibonacci extension strategy measuring the bottom of a downtrend to the first reversal bull impulse local top as the range, the last four fib extensions to 4.236 targets were met. This time the gain appears to forecast 35% profit
2 week candle time frame Harmonic reversal indicator calling for a 10x-12x on SNAP Q1 2025 TTM squeeze has decreasing bearish momentum. Stochastic RSI is oversold. Plenty of lower profit targets can be met , $27, $38, $60 , still huge outperformance returns
Retraced to .786 and so far has held $10 with higher lows. 3D Decreasing bearish momentum on TTM squeeze , 3D stochastic RSI oversold pointing to the upside, time scale measurement provides to return to $36 around April 2025. Using the 2024 q1 q2 baby bump to create a fib extension, $36 is roughly the 2.618 take profit target.
Decreasing of bear momentum in the TTM squeeze, low stochastic RSI. Bitcoin is beginning to test the top of its range. Completion of Fibonacci retracement. 140% measured move
.786 fibonacci retrace was 18.07. Measured move from previous range extremes , wick low to wick high (orange slant) brings a confluence with 1.618 Fibonacci extension level as a target based on previous bull market top around $38-40. Stop loss could be just below 200sma (blue curvy line).
Earnings Monday Feb 5 after hours while high time frame RSI, macd, and stoch RSI are already oversold. Took 96 days to reach extension in 2023. Measured move back to $24 by mid April/early May.