Bitcoin simple fractal idea - 5k then 80k (just a cool idea)
Hello all,
A while ago I posted this idea for a monthly fractal but with the target as 25k and the current 'top' as 7k (here: www.tradingview.com/...thly-fractal-25-000/)
I wasn't sure that was the top and promised I would update when I thought the top is in.
I think the top might be in. And if it is, we can check out the previous bubble to guess where it might go. If we are to correct to the exact same fib (currently around 5k,) which also falls in line with many other things, such as parabola breakdown, trendline etc - we could then pump to 80k (the same fib extension as the previous bubble) before finally entering a large scale correction.
This is just kind of a cool idea, not to be taken too seriously. But I'm sure gonna buy a lot if it hits 5k.
A while ago I posted this idea for a monthly fractal but with the target as 25k and the current 'top' as 7k (here: www.tradingview.com/...thly-fractal-25-000/)
I wasn't sure that was the top and promised I would update when I thought the top is in.
I think the top might be in. And if it is, we can check out the previous bubble to guess where it might go. If we are to correct to the exact same fib (currently around 5k,) which also falls in line with many other things, such as parabola breakdown, trendline etc - we could then pump to 80k (the same fib extension as the previous bubble) before finally entering a large scale correction.
This is just kind of a cool idea, not to be taken too seriously. But I'm sure gonna buy a lot if it hits 5k.
You can allow for a little swing, so I'd say between 4000-5500 would be amazing buy spots for this fractal. Technically the fib is at 4500, and I guess it's a little early to tap the mean.