Bitcoin hit 38.2% of the ATH and low at 83,812, following the ONE44 38.2% rule,
The 38.2% level is the single most important retracement and is the level we use for the "Golden Rule". This rule being, " any market that is going to keep its current trend must hold 38.2%". As long as it does the trend will continue and it should make new highs/lows from that retracement.
Since the bottom in 2022 the market has held 38.2% on every setback. The last two big ones were on 8/6/24 and then 4/7/25 (on chart). With 83,812 being the long term swing point it is do or die at this point one more time. Provided it holds the long term target is a new ATH, however we will watch all the retracements above to see just how strong, or weak the market really is.
The short term target is 38.2% back to the ATH at 98,200, the longer term target area is the 115,797 major Gann square and 78.6% of the same move at 116,900. Any rally that failed to get above 23.6% at 91,450 is a very negative sign and a new low can quickly follow.
A failure to hold 83,812 turns the long term trend negative and the target is 61.8% of the ATH and ATL at 57,707, also a major Gann square.
There are two methods we use at ONE44 to find support and resistance in the markets.
The first are major Gann squares, these are the yellow horizontal lines on the chart.
The second is Fibonacci retracements.
This is our latest Video on how to use the Fibonacci retracements with the ONE44 rules and guidelines. NEW VIDEO
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