Hello,
Its been a while.
Imagine for a second that we are nearing the blow off top, I'm looking out for where we might ultimately form a new baseline (background)
I'm going to say ~$3700 looks good
As you all know, this run up started around $200
$200 to $3700 is $3500 increase. If we do a fib retrace of 78.6%, working the math we end up with that $3500 representing 12.4% of the overall expected gain before it corrects. That gives 3500/0.124 => $16300 gain.
$16,300 + starting point of $200 = $16,500
Its been a while.
Imagine for a second that we are nearing the blow off top, I'm looking out for where we might ultimately form a new baseline (background)
I'm going to say ~$3700 looks good
As you all know, this run up started around $200
$200 to $3700 is $3500 increase. If we do a fib retrace of 78.6%, working the math we end up with that $3500 representing 12.4% of the overall expected gain before it corrects. That gives 3500/0.124 => $16300 gain.
$16,300 + starting point of $200 = $16,500
$3700? lol - you're living in denial with this one bro... retraction sure... it wont hit $3700 with this type of money entering the space.