Time to eighty-six this sucker. OK, that’s too clever by half (whatever that means), but my point is that 4186 is the key Fibonacci level, and God bless it, it seems to actually MEAN something.
Don’t Dream It’s Over
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Torn Asunder
On Friday, whenever every known stock in the universe was raging higher and every known “analyst” was bullish, I meekly put up a post called Tesla on a Tear where I pointed out TSLA’s stock price relative to its FIbonacci level. If I had even half a testicle left on Friday, I would have said to short the bejesus out of the thing, but – – – I didn’t. Suffice it to say that the high of the day was FOUR SHINY PENNIES above the major Fibonacci resistance.
Held Tight at the Fib
It only took a few days early in March for Bitcoin to race up to its major Fibonacci resistance. Ever since then, BLAMMO, it’s pretty absolutely stymied. I find the power of this resistance to be remarkable (which means, of course, if it can ever manage to muster enough strength to get above it, BTC is going to rocket).
Is BTC Telling Us Something?
I’m just about ready to call it a day, but I wanted to mention before shutting down that Bitcoin appears to be pushing above its Fibonacci. In other words, it might be reaching escape velocity here, which suggests perhaps there’s a resumption of the need for a “safe haven“, as it had done a few weeks back when all holy hell broke loose. It could be nothing, but I at least wanted to mention it.
You Can’t Beta Our Meta
It merits repeating that Facebook (sigh, sorry, Meta Platforms) is at the 50% level and is exhausted from its risible ascent in recent months.
