Monthly candle body support is rising over the 1.618 macro fib level, with the resistance at the 3.618 level, resulting in a massive range, which gives the impression of a rising triangle - a bullish continuation pattern.
Currently filled the monthly demand zone and holding over the 2.618 level.
I believe the 2.414 level is the absolute line in the sand for this market cycle.
In prior cycles the 2.414 fib level seemed to serve as the last point of supply before reaching the "blow off top" market cycle high.
If this is true and accurate we'll would probably see the last leg of this cycle happening within the next few months. I estimate this will likely be around February - March.
Not financial advice. This is only my opinion.
Currently filled the monthly demand zone and holding over the 2.618 level.
I believe the 2.414 level is the absolute line in the sand for this market cycle.
In prior cycles the 2.414 fib level seemed to serve as the last point of supply before reaching the "blow off top" market cycle high.
If this is true and accurate we'll would probably see the last leg of this cycle happening within the next few months. I estimate this will likely be around February - March.
Not financial advice. This is only my opinion.