To be honest I am not really exploring the moon's correlation to price this time. But the chart is displaying some key levels-
Note the fibonacci retracement levels and how well they played out. On the macro, measuring from July to today, we saw a wick retrace under the 50% level, then recover and find support at the 50% both on November's close and currently in December. 50% fib is a popular level for Gann analysts for a macro retracement. This is a healthy move in that regard.
On lower timeframes, Bitcoin bulls are fighting with the 62% retracement level, which is the golden fib and also considered a very typical retracement. We swung under it on our ride to $41k, but if we can recover and confirm that as support, it will be a sign of strength by bulls and indicate a possibility of additional upside.
Note the fibonacci retracement levels and how well they played out. On the macro, measuring from July to today, we saw a wick retrace under the 50% level, then recover and find support at the 50% both on November's close and currently in December. 50% fib is a popular level for Gann analysts for a macro retracement. This is a healthy move in that regard.
On lower timeframes, Bitcoin bulls are fighting with the 62% retracement level, which is the golden fib and also considered a very typical retracement. We swung under it on our ride to $41k, but if we can recover and confirm that as support, it will be a sign of strength by bulls and indicate a possibility of additional upside.
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