First, this post is highly speculative and should not be construed as investment advice.
Second, this idea is valid if and only if these conditions are satisfied:
1. The price violently breaks above the previous high of $28.99 and finds support
2. The price reaches the top of the parallel channel
3. The magnitude of the bull run is similar to the rally from $0.63 - $28.99 with respect to price and duration.
Fibonacci Levels:
The price originally opened at $4,457.59 on 7/2/2017 and rallied to $4,704.97. It then tanked to $0.63.
The Fib levels featured on the chart are based on these values using trend based Fib extension.
Let's see if the price can reach the .786 Fib level.
Second, this idea is valid if and only if these conditions are satisfied:
1. The price violently breaks above the previous high of $28.99 and finds support
2. The price reaches the top of the parallel channel
3. The magnitude of the bull run is similar to the rally from $0.63 - $28.99 with respect to price and duration.
Fibonacci Levels:
The price originally opened at $4,457.59 on 7/2/2017 and rallied to $4,704.97. It then tanked to $0.63.
The Fib levels featured on the chart are based on these values using trend based Fib extension.
Let's see if the price can reach the .786 Fib level.
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