In the previous downhill price consolidated for about an week where 50% fib was a strong support with monthly pivot point just below it.
Now the price is in a downhill again and sure enough, price is consolidating in the same area and 50% fib is acting as a support.
Looking for the break below 50% level (closing 4h candle).
Possible flag pattern also, but it doesn't really matter, since that's the way I'm expecting it to go anyways.
Red lines are median lines from 2 different pitchforks and as can see in this chart, price has been drawn to those lines. Consolidation is also happening around the (slightly) upward median line.
Magenta line is parallel from (slightly) downward pitchfork, just for reference.
TP1: around 61.8% fib level
TP2: around 113 -> 78.6% fib and downward median line coincide and monthly S1 pivot right below them
Now the price is in a downhill again and sure enough, price is consolidating in the same area and 50% fib is acting as a support.
Looking for the break below 50% level (closing 4h candle).
Possible flag pattern also, but it doesn't really matter, since that's the way I'm expecting it to go anyways.
Red lines are median lines from 2 different pitchforks and as can see in this chart, price has been drawn to those lines. Consolidation is also happening around the (slightly) upward median line.
Magenta line is parallel from (slightly) downward pitchfork, just for reference.
TP1: around 61.8% fib level
TP2: around 113 -> 78.6% fib and downward median line coincide and monthly S1 pivot right below them