Recently i had thought through an idea i coined ' the bear-inator' which gave a curved line from the spawn of a bull run and ultimately being the point of no return once the bull run died off ! While this idea is on a very HTF so its fruition wont be know for some time , it is worth planning out possible ideas ahead of time so you can look back upon your thinking and therefore i drew up a general idea of where BTC may go .
This idea may not occur and because of that i wont pay much attention to this chart , perhaps checking back to it monthly . This idea mainly plays into the idea that the BTC ETF will get delayed or disapproved and also ties into a futures driven run we may currently be seeing .
In red ive drawn a possible path that features fib retracement in combination with fibonacci circles. It also looks for possible confluence areas using the circle as a basic direction guide and the retracement as a price guide !
While im not betting on this playing out the thinking behind this chart is rational and features common traits of previous runs including a similar size drop off .
-Oliver
This idea may not occur and because of that i wont pay much attention to this chart , perhaps checking back to it monthly . This idea mainly plays into the idea that the BTC ETF will get delayed or disapproved and also ties into a futures driven run we may currently be seeing .
In red ive drawn a possible path that features fib retracement in combination with fibonacci circles. It also looks for possible confluence areas using the circle as a basic direction guide and the retracement as a price guide !
While im not betting on this playing out the thinking behind this chart is rational and features common traits of previous runs including a similar size drop off .
-Oliver
