Have charted the bull market top to bear market bottom over last 2 cycles and by looking at Fibonacci extensions levels we just failed to reach
73K
level in 2021 which is the 4.236 ext.
Fast forward to March 2024 and
73K
has proved to be a strong resistance level... A correction now down to $50-55k would be healthy and provide the fuel to reach the first fib extension 1.618 at $102k - A conservative guess is we will at least top out at 2.618 level $156k this cycle - Can we head to $4.236 extension at $244k ? Not out the question
73K
level in 2021 which is the 4.236 ext. Fast forward to March 2024 and
73K
has proved to be a strong resistance level... A correction now down to $50-55k would be healthy and provide the fuel to reach the first fib extension 1.618 at $102k - A conservative guess is we will at least top out at 2.618 level $156k this cycle - Can we head to $4.236 extension at $244k ? Not out the question