Using a fib fan connecting the 2 major timepoints of a breakout above $800 that held in Early January 2021 and the >$4,800 high price we saw in November of 2021 we can see strength being found at the 0.50 retracement level.
We can see the .25 and .382 levels acted as support before giving out causing a step down the ladder. If we find support at the 0.50 level then I imagine we test the .382 at a price between $3,800 and $4,000 at the beginning of February 2022 and if we move up then the fun really begins...
If 0.50 is held then we keep a full move back to the 0 line at $6,750 - $7,000.
A lot of momentum can be found either way of the 0.50.
Let's hope the ball bounces up.
We can see the .25 and .382 levels acted as support before giving out causing a step down the ladder. If we find support at the 0.50 level then I imagine we test the .382 at a price between $3,800 and $4,000 at the beginning of February 2022 and if we move up then the fun really begins...
If 0.50 is held then we keep a full move back to the 0 line at $6,750 - $7,000.
A lot of momentum can be found either way of the 0.50.
Let's hope the ball bounces up.