Looking at the current upward momentum, indicators such as RSI etc. are overbought yet price keeps moving upwards.
Seems these indicators are severely lagging in a very bullish market and cannot be used to reliably determine when price will likely turn around.
In this analysis, I am simply looking at past bull-runs and hypothesizing that if we are in the beginnings of a new bull-run, where would price likely go to based on fib patterns alone.
Using the past bull-runs as examples and projecting from the major build up before the run, I am measuring fib of the overall buildup and projecting a fib extension of 4.414 as this has been a historic extension for past runs.
Seems these indicators are severely lagging in a very bullish market and cannot be used to reliably determine when price will likely turn around.
In this analysis, I am simply looking at past bull-runs and hypothesizing that if we are in the beginnings of a new bull-run, where would price likely go to based on fib patterns alone.
Using the past bull-runs as examples and projecting from the major build up before the run, I am measuring fib of the overall buildup and projecting a fib extension of 4.414 as this has been a historic extension for past runs.