BTC - Unexpected Scenario
Hello everyone,
One thing I wanted to point out is a scenario which noone would expect.
The only reason I point this out is almost everyone expects BTC to reach the 0.618 around $48-49k once the ETF is approved before the big rejection. Their theory is solid since from the
SWB:69K top to the 15k bottom would put that golden ratio (0.618) around 48.5k.
This is something I mentioned over 6 months ago.
https://www.tradingview.com/chart/BTCUSDT/SLCf2We0-BTC-The-importance-of-the-0-618/
This would make sense as we have not had a correction in a very long time and would be similar to the 0.618 acting as resistance in 2019 before the final drop.
What if I argue the 0.618 retest everyone is waiting for has already happened?
This is due to the theory that our true top of 2021 was put in around
65K and that the "double top" at SWB:69K was just a fakeout.
If we draw the fibs from the65K top to our 15k low, that puts our 0.618 around 46k. So far this has acted as perfect resistance and noone has understood the reason why. Well I am showing you that reason now.
Of course anything can happen with the upcoming ETF news, I just wanted to give you an alternative perspective based on fib levels. I hope this is valuable.
One thing I wanted to point out is a scenario which noone would expect.
The only reason I point this out is almost everyone expects BTC to reach the 0.618 around $48-49k once the ETF is approved before the big rejection. Their theory is solid since from the
SWB:69K top to the 15k bottom would put that golden ratio (0.618) around 48.5k.
This is something I mentioned over 6 months ago.
https://www.tradingview.com/chart/BTCUSDT/SLCf2We0-BTC-The-importance-of-the-0-618/
This would make sense as we have not had a correction in a very long time and would be similar to the 0.618 acting as resistance in 2019 before the final drop.
What if I argue the 0.618 retest everyone is waiting for has already happened?
This is due to the theory that our true top of 2021 was put in around
65K and that the "double top" at SWB:69K was just a fakeout.If we draw the fibs from the
65K top to our 15k low, that puts our 0.618 around 46k. So far this has acted as perfect resistance and noone has understood the reason why. Well I am showing you that reason now.Of course anything can happen with the upcoming ETF news, I just wanted to give you an alternative perspective based on fib levels. I hope this is valuable.
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