#DayTradingStrategy

Target price of the Fibonacci cycle: $184,181. And this is not a figure pulled out of thin air.

There is one simple but effective technique: take the first strong movement of the cycle and stretch the Fibonacci extension on it.

In the past, this method worked almost perfectly:

— In 2011, it gave $30.84

— In 2013 — $1,205

— In 2017 — $18,702

— In 2021 — $63,839

Each time the top of the cycle roughly corresponded to the 5.618 level from the first wave of growth.

And if we apply the same formula to the current cycle, we get $184,181.

Coincidence? Perhaps.

But when the same ratio works four times in a row with an accuracy of a few percent — this is more likely statistics.

What is important:

The chart shows that the current consolidation we have observed is the final squeeze before the decisive movement.

The price cannot stay still forever, and it seems the movement has already begun.

The market has been preparing the ground. And if the cycle is not anomalously short — we are in for another phase of the exponential.