Bouncing down along different pitchfork channels - v3
Price has hit the $450, the 50% range along the short term pitchfork channel, one more time. 50% was hit on the previous short term pitchforks just before switching to another another channel.
Expecting to head down to $415 which is the bottom of the longer trend pitchfork and at the intersection with the longest trend pitchfork going back to $547.
Then a potential bounce past the middle of the longer trend pitchfork channel, which is just below the 23.6% ($440) fib retracement for the drop from $505 to $420. $440 is also at the bottom of an the admittedly thin ichi cloud, but we may not get that close once the 23.6% level is recalculated with the new low around $415 .
From there down to at least the top of the middle range on the longest term pitchfork channel from $547, but as low as the bottom of the middle range. That middle range corresponds to ~$360-$390, which closely aligns with potential fib retracement bounces at the 88.6% ($364) and 76.4% ($389) levels.
Expecting to head down to $415 which is the bottom of the longer trend pitchfork and at the intersection with the longest trend pitchfork going back to $547.
Then a potential bounce past the middle of the longer trend pitchfork channel, which is just below the 23.6% ($440) fib retracement for the drop from $505 to $420. $440 is also at the bottom of an the admittedly thin ichi cloud, but we may not get that close once the 23.6% level is recalculated with the new low around $415 .
From there down to at least the top of the middle range on the longest term pitchfork channel from $547, but as low as the bottom of the middle range. That middle range corresponds to ~$360-$390, which closely aligns with potential fib retracement bounces at the 88.6% ($364) and 76.4% ($389) levels.
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