Bitcoin PA and Fib Circles
#Bitcoin Weekly & 618 Fib circles
One Thing that tells me things have changed is the fact that PA is climbing UP a 618 circle.
1 & 2 were rejection, 3 was neutral & 4 is support
NOTE the Arrow on 4.236 ( usual rejection ), when FTX went down & Fed put in 4th 75 point Rate hike- the perfect storm for a wash out.
For Me, Fib Circles are more important that many think and here we see a progress from Stiff rejection on 1.618, softer on 2.618 - 3 is Near Neutral, signalling that the Ebb has turned and 4 is not support
Which lead me to think that 5.618 could be very interesting BUT may not be strong support. In fact, I think we may see rejection again due to "World" Fundamentals..
Tghe 6.618, however, in the beginning of 2024 could prove to be very strong Support.
Only time will tell
One Thing that tells me things have changed is the fact that PA is climbing UP a 618 circle.
1 & 2 were rejection, 3 was neutral & 4 is support
NOTE the Arrow on 4.236 ( usual rejection ), when FTX went down & Fed put in 4th 75 point Rate hike- the perfect storm for a wash out.
For Me, Fib Circles are more important that many think and here we see a progress from Stiff rejection on 1.618, softer on 2.618 - 3 is Near Neutral, signalling that the Ebb has turned and 4 is not support
Which lead me to think that 5.618 could be very interesting BUT may not be strong support. In fact, I think we may see rejection again due to "World" Fundamentals..
Tghe 6.618, however, in the beginning of 2024 could prove to be very strong Support.
Only time will tell
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