BTC key level of 42.2k is a ripple of its "Covid Stimulus" wave

Above Chart is a single wave, in 3 time frames.
This wave was started by Covid Stimulus money.
That "Impulse" created "Ripples" that still exist.

42,200 has been a clear battle line last few days.
It is a very strong ripple, being a "Golden Multiple".
Exact touches on both sides prove its existence to all.

This is one of MANY waves (and thus fibs) of BTC.
The ripples of THIS wave are strong at certain times.
Perhaps economic reports and bond yields are moving?

Regardless of the cause, the FACTS are:
All Traders are again noticing importance of this level.
All Indicators will have factored this level in their math.
All Algo's will now place orders at or around this level.

That is how fibs become MORE relevant with time.
What will happen NEXT is just a guess for anyone.
But what happens HERE will be highly relevant.

There are other fibs and levels that will also play out.
Just above this level is a "Genesis" fib at 42.8k to watch.
I will post other ideas as we approach other such levels.

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Part of my ongoing series to collect examples of my Methodology: (click links below)
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions <= Current Example
Chapter 6: Give me a ping Vasili: one Ping only

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Ordered Chaos

every Wave is born from Impulse,
like a Pebble into Water.

every Pebble bears its own Ripples,
gilded of Ratio Golden.

every Ripple behaves as its forerunner,
setting the Pulse.

each line Gains its Gravity.
each line Tried and Tested.
each line Poised to Reflect.

every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.

He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.

Ordered Chaos

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want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.

Comment:

FED day and a perfect retest with a Ping (exact ricochet) that tried to bounce it

Heavy selling broke thru again, BUT the retest confirms relevance of this fib again, and on a FED day!
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Comment:

Here we are two months later, now orbiting another Golden fib

$65,897.25 is the sister Golden fib to the original post's Golden

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Taking a closer look at that fib (h1)

We have several Pings (exact reflections) from both sides,
and now all humans/algos/indis have recorded this level,
so even if blind to the fib, there will be a line on all charts.

Zoom in more (m1)

The precision of the reaction says PING,
an exact ricochet that you can almost HEAR.
Right now things don't look good for bulls.

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