When a pair move in an order of fibonacci retracement and extension perfectly, we can map out the path nicely.
The past ABCD was a perfect move , impulse followed by retracement to 50% then extension 1.618 achieved.
The next bullish movement is already in play , you can see my ABCD projection where price drop whenever it reached 1.618 extension , it touch 50% retracement and started moving up.
This is for me no coincident but a precision in play, I would assume that market at least reach the fresh supply level marked in red.