Fibonacci levels giving crazy levels

If we do a fib retracement from ATH to the local bottom of 30K we can notice that the middle top is located a 0.38 fib level.

If we then do a second fib retracement but this time using the 40K local bottom and align the 0.38 with the ATH we can see that it's targeting 110K

I'm not betting my life on this analysis but it's interesting to see what would happen if it played out.