i think were going to move up to above 36k (which is the 0.5 fib level on the bigger timeframe + top on the wedge) before the next leg down to below 18k (our .786 lvl on bigger timeframe)
using fib trend extension it would line perfectly up for the target of 13.9k which makes me think this falling wedge break to the downside in the coming months
.. just my thoughts
using fib trend extension it would line perfectly up for the target of 13.9k which makes me think this falling wedge break to the downside in the coming months
.. just my thoughts
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forget it, totally changed my perspective on this..
since on the larger timeframes we've established a new low, it makes more sense we retrace from that before finding the next low. I think we can find a top from 40-43k area where ill open a super low leveraged short (making sure my liquidation lvl is well above 50k)
then i expect us to fall and find the next low at 18k-20k (according to trend based fib extension) where we bounce, rinse, & repeat until a trend reversal happens.
since on the larger timeframes we've established a new low, it makes more sense we retrace from that before finding the next low. I think we can find a top from 40-43k area where ill open a super low leveraged short (making sure my liquidation lvl is well above 50k)
then i expect us to fall and find the next low at 18k-20k (according to trend based fib extension) where we bounce, rinse, & repeat until a trend reversal happens.