On the monthly timeframe, began 2022 wicking off 38,2 and ever since have just consolidated
Very similar looking to all prior long term corrections; back during all the hoopla we saw price flirt with 2,618 expansion level, never quite breaking above it
If this March 2023 candle closes above the 20ma, it would lead me to believe the bulls are about to have their way as far as printing candlesticks goes
The 3,618 expansion level does coincide with the -41,4% level, which in my experience has been a commonly hit target if fibonacci is incorporated into the overall analysis
I do not typically use it but mainly on the Monthly/Weekly timeframes
Let's see if we do get some bull momentum here in the next 2 months...
Very similar looking to all prior long term corrections; back during all the hoopla we saw price flirt with 2,618 expansion level, never quite breaking above it
If this March 2023 candle closes above the 20ma, it would lead me to believe the bulls are about to have their way as far as printing candlesticks goes
The 3,618 expansion level does coincide with the -41,4% level, which in my experience has been a commonly hit target if fibonacci is incorporated into the overall analysis
I do not typically use it but mainly on the Monthly/Weekly timeframes
Let's see if we do get some bull momentum here in the next 2 months...