Are we bear yet?
Definitely not! - And this is why!
On the chart I have Fibonacci levels pulled from the previous ATL, to the Recent ATH, From the midpoint of the previous rally, to our current previous high, and again from our previous ATH to our current Low - I have the FIB time pulled from last cycles ATH to ATL (Which marked the current top almost perfectly) - and I wanted to share this chart with you.
Using the arrow indicator, I've followed the path from the previous current ATH, to where we are now, and where I expect it to go - By doing this, you can see how well the chart has respected the fibonacci levels, playing ff the .236 from the previous ATL, and mid range ATL - popping upto retest at the .886, before dipping again - Along this way the Fib fan has shown a clear average trendline - which we have flipped into support, perfectly bouncing off recently, whilst respecting the parallel channel bearishly, and then ultimately getting rejected off the .75 Fib Fan trendline.
I'm expecting us to next take out the
52K level, before coming back up and retesting the .75 Fib trendline once again, Ultimately I am expecting a bounce off this, back to the bearish, to scoop lower to around 
48K to the -0.236 Fib level, If this level breaks, I am fully expecting us to dip to around $42,700 into the long term golden pocket - where we also have the Long term POC two strong points of confluence here - Now if it respects the channel also and times it at the exact meetup - We can assume there is a strong strong probability of a reversal here if it has already not happened.
The downside if this key area breaks, Is it also invalidates the Long term C+H I previously posted about, and will ultimately signal the end of the rally before it has even started!.
Anything is possible, this is just my idea and thought - We are still above the average Fib fan trendline, so in my eyes, we are still Bullish! - Lets go!
Definitely not! - And this is why!
On the chart I have Fibonacci levels pulled from the previous ATL, to the Recent ATH, From the midpoint of the previous rally, to our current previous high, and again from our previous ATH to our current Low - I have the FIB time pulled from last cycles ATH to ATL (Which marked the current top almost perfectly) - and I wanted to share this chart with you.
Using the arrow indicator, I've followed the path from the previous current ATH, to where we are now, and where I expect it to go - By doing this, you can see how well the chart has respected the fibonacci levels, playing ff the .236 from the previous ATL, and mid range ATL - popping upto retest at the .886, before dipping again - Along this way the Fib fan has shown a clear average trendline - which we have flipped into support, perfectly bouncing off recently, whilst respecting the parallel channel bearishly, and then ultimately getting rejected off the .75 Fib Fan trendline.
I'm expecting us to next take out the
52K level, before coming back up and retesting the .75 Fib trendline once again, Ultimately I am expecting a bounce off this, back to the bearish, to scoop lower to around 48K to the -0.236 Fib level, If this level breaks, I am fully expecting us to dip to around $42,700 into the long term golden pocket - where we also have the Long term POC two strong points of confluence here - Now if it respects the channel also and times it at the exact meetup - We can assume there is a strong strong probability of a reversal here if it has already not happened.The downside if this key area breaks, Is it also invalidates the Long term C+H I previously posted about, and will ultimately signal the end of the rally before it has even started!.
Anything is possible, this is just my idea and thought - We are still above the average Fib fan trendline, so in my eyes, we are still Bullish! - Lets go!
Come join me over at Cryptohub - The number 1 place for all things Crypto:
discord.gg/cryptohub
discord.gg/cryptohub
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.
Come join me over at Cryptohub - The number 1 place for all things Crypto:
discord.gg/cryptohub
discord.gg/cryptohub
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.