This is pretty much the last straw before the most grim of scenarios (37k, 25k, or purely bear market)
I know I've been overly bullish on the way up... that's because everything backtested so perfectly. My apologies for being wrong, and I can't say it won't happen again (but neither can anyone else..?)
The gold fib lines are my macro reference lines for every cycle since 2013 (2 points of contention).
We're sitting in the middle of those gold fib lines which is the 1.414 same as 2017.
I was able to dissect from the bottom gold fib (1.272) all the way up to the ATH which hits well on the fibs.
Using the same fib structure for 2021, this would be a nice roadmap for a 2017 playout (watch around 100k if we go parabolic).
Seeing as how oversold the market is, we could see some short covering for a nice rebound (watch 60k carefully).
Fundamentals point to the bearish side yet such as interest rate hikes for 2022; however, omicron is lurking for the US yet, which would postpone those hikes likely.
Until we break 25k or 200k, I'm bullish AF.
See related ideas as to why 250k is my TP.
I know I've been overly bullish on the way up... that's because everything backtested so perfectly. My apologies for being wrong, and I can't say it won't happen again (but neither can anyone else..?)
The gold fib lines are my macro reference lines for every cycle since 2013 (2 points of contention).
We're sitting in the middle of those gold fib lines which is the 1.414 same as 2017.
I was able to dissect from the bottom gold fib (1.272) all the way up to the ATH which hits well on the fibs.
Using the same fib structure for 2021, this would be a nice roadmap for a 2017 playout (watch around 100k if we go parabolic).
Seeing as how oversold the market is, we could see some short covering for a nice rebound (watch 60k carefully).
Fundamentals point to the bearish side yet such as interest rate hikes for 2022; however, omicron is lurking for the US yet, which would postpone those hikes likely.
Until we break 25k or 200k, I'm bullish AF.
See related ideas as to why 250k is my TP.
