OMG major Target and Heads Up at $15.51: take some/all profits

Plotted are three different fib series from different timeframes.
Each level likely to relevant, higher timeframes fibs more so.
Confluence areas of the fibs are of special interest for turns.

Left Side is the "Genesis" wave since introduction at Coinbase.
Right Upper adds Dashed fib of uptrend from Covid Crash bottom.
Right Lower adds Dotted fib of last Impulse wave up from $8.5.

4.236 is the most common End Point of such a wave.
2.618 is the most common Mid Point to retrace from.
1.618 is the most common support after wave ends.

It is POSSIBLE that it goes past the 4.236.
It is PROBABLE that it retraces from there.
It is PLAUSIBLE that it can not be reached.

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I do not use "Fibs" in the "traditional" manner (retracements).
I use Fibs to plot "Ripples" (extensions) created by "Impulses".
Then look for "Confluences" to map the "interference Pattern".

My TV collection of ideas detailing the Concepts:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: 'one' Ping only
Chapter 7: The Mighty 2.618: like a Rook in Chess

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評論:

Target Hit EXACTLY

Perfect push into our Target

and that gold fib sure was noticed!

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Zoom IN (3 min) for a closer look

and WOW, that 4.236 was spot on. So why 15.5 and not 15 round?
Because human brains work on the .618 ratio/multiples, whether knowingly or not.
The Golden Ratio predicted 15.5 to be the average or mean decision point of all humans.

So what now? Couple of levels of interest

We should see a bounce soon,
but probably will go lower yet.
Hopefully those supports will slow things down.

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SUMMARY:
- Golden Ratio predicted that top Perfectly.
- Likely that was end of a large scale wave.
- Retest of 11.3 and 10 round quite possible.

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評論:

Quick follow up to last update above.

We got a bit of a bounce on the first and "minor" support

And it bounced it past the major fib in dark purple.
Still likely to go lower, but this bounce has at least slowed the fall.

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