Fib channel formed from the lows of February 2019 to the start of the recent push in October 2020 demonstrating a push topping out at exactly 1.0 and an as yet, a retrace just past 0.618, all very normal.
We may have to push back to the 0.500 mark but that would be quite healthy, it would be considered a good test, a reasonable correction and a great chance for lots of people looking to buy in at that big round number, 40k.
I think we are either in or close to approaching an accumulation phase ready for another push.
Any thoughts welcome, also, I’m am clearly not an expert so don’t put too much stock into this, I’m just bouncing an idea around.
We may have to push back to the 0.500 mark but that would be quite healthy, it would be considered a good test, a reasonable correction and a great chance for lots of people looking to buy in at that big round number, 40k.
I think we are either in or close to approaching an accumulation phase ready for another push.
Any thoughts welcome, also, I’m am clearly not an expert so don’t put too much stock into this, I’m just bouncing an idea around.