This is not a turn by turn GPS, but a Roadmap of price action levels based on the Fib target zones. These zones were outlined in May 2018 where I targeted the consolidation breakdown from $3.5K to $5k. (1.86 fib to 1.27). Now that the target of that breakdown has been reached and we are consolidating at the 1.86, I have redrawn the fib extension to cover the...
Fibs are indicative of price levels. Trend lines bring time into the equation. March through August should be very interesting. Price Target is 600 to 1400 Time target is March to August This gives ample time for sideways and denial rallies in preparation for the 2020 halvening to kick off a new bull trend.
Continuing with the fractal pattern that has shown up repeatedly. A Double bottom in store and then a steady rally back to 6.8K. Used this pattern already to buy at 5780. Well let's see if this plays out again. On the Left is the current daily chart. On the right is the patter example on the 4hr. However this can be found on any time frame over the last two...
Just looking at this patern that has shown up several times on the lower time frames during this consolidation. Daily chart on the right. An example of the pattern on the 1hr time frame on the left.
Bounces and dead cats until we reach at least the 1.27 at 5k. The 1.86 at 3.5K is also possible. Should take its time getting there though.