From 3.5 to 20, the 618 fib level is 13.7, which we are breaching now. The 382 fib level is 9.8.
The buyer support @ 10 has not been tested. It's likely that's where we're headed. Once it bounces off of 10, we'll see.
I thought that we were talking about 61.8% retrace of a drop, hence 19700-11159 (on tradeview)=8541 points
multiply by 0.618=5278
11159+5278=16,437, which would be a 61.8% retrace of the drop.
I don't think anybody else is talking about the move from $175 or 1k or 3.5K.
Some people use a different low, i just use the tradeview's one.
You are assuming the drop from the ~20 high has completed. I am talking about the scenario of what happens if it's not, based on masterluc saying that one possibility is retesting 10.
Figuring out where the low is is the most confusing part. Masterluc puts it at 3.5
.