The BTC fibs ironically tell the truth. (Log Chart)
All fib retracements were pulled from candle body to candle body (no wicks; unregulated market) and they are all colored individually just for your sanity. I cleaned up all the clutter just so you could see the top and bottom of where I pulled and then the 4.236 location which is all that this post is trying to point out.
To the point: They all start to tell the same story and its that around 28k is the end of the road, maybe a wick just shy of 30k is possible but any higher and my predictions for the correction will change down to 1-2k firm. In my previous post I explained the issues with the global economy, pandemic, and DXY in context to BTC, so if you want a more in-depth explanation about how I'm bearish on the entire world right now, that is the place to go. As a bonus, I pulled a fib in reverse and to no surprise of mine the 4.236 pokes its head right near the trend line and the buy zone that is currently adjusted for the scenario that BTC doesn't break 30k.
To the point: They all start to tell the same story and its that around 28k is the end of the road, maybe a wick just shy of 30k is possible but any higher and my predictions for the correction will change down to 1-2k firm. In my previous post I explained the issues with the global economy, pandemic, and DXY in context to BTC, so if you want a more in-depth explanation about how I'm bearish on the entire world right now, that is the place to go. As a bonus, I pulled a fib in reverse and to no surprise of mine the 4.236 pokes its head right near the trend line and the buy zone that is currently adjusted for the scenario that BTC doesn't break 30k.
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