This weekly pattern described as a rising wedge has not been broken yet. The probabilities are 66% breakdown to the 200ema, however, there is still a 33% chance we break up from this pattern.
Falling wedge breakout with price target in-line with 0.618 fib extension at 58k. Just broke on the 4HR, lets see how it plays out on the retest of the wedge breakout on the 4HR.
Halving 1: 23 Months until ATH (41,100%)
Halving 2: 17 Months until ATH (3,141%)
Halving 3: 11 Months? 700%?
If the decrease in months until ATH between the 1st and the 2nd was 6 Months, does the same pattern apply off those two data points?
I could write a paragraph filled with nerdy technical analysis, or I could just say that the fibonacci doesn't lie.
.5: 47k (confluence with wedge breakout)
.618: 51k (confluence with ABC pattern)
Watch closely for further pattern formations
Based on measuring the move in 3 different spots from this large symmetrical triangle and using 3 major long term fibonacci retracements, i've developed an accurate representation of an idea that could happen when ETH continues down. Here are the key spots Im looking at:
1727: 0.618 retracement from covid low as well as most bullish asc. tri target.
1723: 0.618...
1727: 0.618 retracement from covid low as well as most bullish asc. tri target.
1723: 0.618 retracement from 2018 Low).
1695: Falling wedge target.
1658: conservative asc. tri target.
1571: Most bearish asc. tri target.
1515: March 25th, 2021 Low.
1400: 2018 High.
Bitcoin as predicted, hit the target price of 20k from my post over a month ago. From here we will see a follow through the the breakdown to near the 20WMA or the .5 - .618 golden pocket Fibonacci zone. That range is between 13.8 to 14.8k, with the 20WMA sitting at 14k at the time of this post. If youre looking to short, short the breakdown after the confirmation...
Using the fib retracement, the 1.618 is the nearest support sitting at 13.3k for a nice retracement, however, with the market sentiment and institutional investors buying up for the next decade, 13.3k is not likely. Look at my chart for my 6 month prediction for price. In the last 2 bull runs, price touched all time high, formed a cup and handle and retraced to...
