I was asked to update this idea. I actually did some new analysis now that i re-study the chart again. Every time I look at it, I see new things (or maybe less...). I will also upload a new one for EGLDUSD that complements what is suggested here.
My suggestion here relies on Fibonacci levels and in different repeated phases i am seeing according specially to those levels. As suggested, the timing of each phase and between low/high peaks will be very different.
To me, it would be no surprise that we go down now to the 0.618 retracement level, the same we did in the past. Very important the note I add to the chart: I don't think this mean EGLDUSD goes down so much, it might mean than BTC have a good rally up before, while EGLD goes sideways in accumulation (see my idea Wyckoff #2 schematics).
My suggestion here relies on Fibonacci levels and in different repeated phases i am seeing according specially to those levels. As suggested, the timing of each phase and between low/high peaks will be very different.
To me, it would be no surprise that we go down now to the 0.618 retracement level, the same we did in the past. Very important the note I add to the chart: I don't think this mean EGLDUSD goes down so much, it might mean than BTC have a good rally up before, while EGLD goes sideways in accumulation (see my idea Wyckoff #2 schematics).
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