I cant see it doing 47 without a significant global shock but if it does it will be a nice foundation to push off of long term. At what point/level do you rule that drop out? (on the EW/Fib outlook). If it does 47,I think some ears will prick up on here. Consider this your greatest test!
47k would complete a 7 swing correction, and would bring us to the 1.618 fib time extension. Don't worry about price getting to 47k...some "the sky is falling" event will come out that the talking heads try to blame it on. It's a chicken or egg thing. Price needs to complete the pattern. The reason I think 47k before 100k is symmetry. If you look at the chart below showing us going to 100k now, the 7 swing correction is too cramped up. X--->Y is too steep imo...and Y is not extended enough from X. There are fibs to measure all this...could probably throw in a cypher too but I am just eyeballing it.
If there was a bitcoiner who had any brain cells left, they would IMMEDIETLY market sell all their scam coins and GO SHORT. People who are selling this final hail mary pump from 60-$70Ks are warriors of god and shall be rewarded as such. When i look at the price chart of Litecoin, tears of joy start dripping down my cheeks. It looks like this scam will finally get buried down to where it belongs. Hopefully this is an indicator of the market as a whole.
Highlights from another orbit trainwreck: brain cells left, they would IMMEDIETLY warriors of god tears of joy start dripping down my cheeks
The Goblin gets 2 years, forfeits $11 Billion in assets (magic money??); seems light. Crypto rallies.
Bitcoin Friday Arriving September 30th!! https://www.cmegroup.com/markets/cryptocurrencies/bitcoin/bitcoin-friday-futures.html