Updated

BTC headed to 48k next? Genesis Fib says yes

Quick post to highlight key levels nearby.
48,090 Coinbase is the next Genesis Level.
Loss of Golden Level at 52,838 was massive.

Maybe 50k round will bottom it?
But imagine the stop losses below.
Whales likely to hunt those, no?

.

I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions <= Current Example
Chapter 6: Give me a ping Vasili: 'one' Ping only

.

Note

A look at the importance of the "Genesis Levels"

From the bounce on 37.241,
to what "should" have been top at 61,256,
to what actually became the top at 61,250.

Thus my religion: The Golden Ratio

====================================================================================

.

Note

SOOO close one can SMELL it

We are hovering just above that Genesis level at 48,090

That little cushion between price and fib is a ray of hope.
Ideally we levitate here for a while and paint a slow curve upward.
OR a wick that suddenly dips, hits the fit EXACTLY, and ricochets VIOLENTLY.

If we fall right thru it, then we will look to the next fib(s) below:

the fib at 45.1k is a "Stronger" one of the minor fibs (it is a .618 between the two Gold fibs).

============================================================================================

.

Note

Here we are:

and NOT looking great. BUT, we might see a few orbits here before next move....

============================================================================================

.

Note

UH OH!

A "Ping" on the underside of fib

never a good sign :(

============================================================================================

.

Note

Orbit it is then!

A few laps and trying to achieve escape velocity

============================================================================================

.

Note

Ready to Leave Orbit?

See if we have Escape Velocity after a few spins around the block

============================================================================================

.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag