⓵ Initial drop from ATH to 23.6% (support)
⓶ The second drop – from 23.6% to 38.2% and recovery back to 23.6%
⓷ Echo-pump above 23.6% (acts like support again)
⓸ The third drop – from 23.6% to 38.2% (no recovery)
⓹ 38.2% is broken, sideways between 38.2% and 50%
⓺ Capitulation to 61.8%, bottoming and slow recovery
From the previous dynamics the bottom could be expected 84 weeks from now (21/38x124) – Nov/Dec 2021.
It resonates with the market cycles slowing down due to the growing capitalization.
The ultimate bottom zone is around 61.8% Fibonacci retracement level (~1000$).
It is close to the 2013th ATH as well.
Just as it was with the previous cycle (2015 low was at 2013 high).
Of course, just a scenario, not a financial advice :)
⓶ The second drop – from 23.6% to 38.2% and recovery back to 23.6%
⓷ Echo-pump above 23.6% (acts like support again)
⓸ The third drop – from 23.6% to 38.2% (no recovery)
⓹ 38.2% is broken, sideways between 38.2% and 50%
⓺ Capitulation to 61.8%, bottoming and slow recovery
From the previous dynamics the bottom could be expected 84 weeks from now (21/38x124) – Nov/Dec 2021.
It resonates with the market cycles slowing down due to the growing capitalization.
The ultimate bottom zone is around 61.8% Fibonacci retracement level (~1000$).
It is close to the 2013th ATH as well.
Just as it was with the previous cycle (2015 low was at 2013 high).
Of course, just a scenario, not a financial advice :)