Macro outlook: biggest BTFD opportunity of this bull?
A macro outlook combining what's behind us with what could lie next, trusting on our beloved Mr. Fibonacci
Pulling up Fibonacci levels from the bottom of the Covid crash, march 12 @ 3.8k to the peak of the previous bull and big resistance of 20k, we can see the following line up:
The notorious 20 week moving average, currently at 44k looks like it could line up beautifully with the Fib 2.618 at 46k, by the time we get there, beginning of may. These huge macro trends converging would present us with the biggest BTFD opportunity of this bull on a silver platter and a sure ticket to a beautiful display of fireworks, if we get there.
Next resistance could lie at 72k (Fib 4.236) and of course the big one at 100k.
There is not a single on-chain indicator being overheated right now.
The show must go on.
Buckle up.
Pulling up Fibonacci levels from the bottom of the Covid crash, march 12 @ 3.8k to the peak of the previous bull and big resistance of 20k, we can see the following line up:
- peak of june '19 @ 13.8k lines up with Fib 0.618
- critical level of 10k lines up with Fib 0.382
- big support level of 30k lines up with Fib 1.618
- current highs / resistance at 62k lines up with Fib 3.618
The notorious 20 week moving average, currently at 44k looks like it could line up beautifully with the Fib 2.618 at 46k, by the time we get there, beginning of may. These huge macro trends converging would present us with the biggest BTFD opportunity of this bull on a silver platter and a sure ticket to a beautiful display of fireworks, if we get there.
Next resistance could lie at 72k (Fib 4.236) and of course the big one at 100k.
There is not a single on-chain indicator being overheated right now.
The show must go on.
Buckle up.
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