I can’t really speculate on time tables because TA is not a future teller. It’s possible we never get there at all. Before we can get to the .618 fib level at 175 sats, we have to break the .5 fib line at 181 sats. We have a solid 50 MA support on the 8 hour Kucoin chart in the 183 range right now which is protecting the 181 sat line. We have to break through that MA before we can test the .5 Fib which will require some hefty sell volume. To be 100% honest, I don’t see that sell volume coming without a continued BTC drop, which could always happen…there’s no way to know 100%. Everything hinges on BTC right now.
Here’s one thing I do know based on personal observation. 2 pm my time (Central time in the US) tends to be a dipping point on week days. That dip is typically amplified on Mondays more than the rest of the week. We have two and a half hours from the time of this post before we reach that time. I suspect we will have some sell pressure coming in which will give us an indication on how the rest of the day will go based on the price action afterward. There are A LOT of eyes on the market right now, so if you are looking to buy, the #1 rule is not to try and time the bottom because there are a lot of professional traders that do that and are able to dictate that bottom to begin with. If 175 is your target, know that we may never get there and it would be wise to simply buy a little now just in case. At the end of the day, 10 sats is not going to make a single difference when we start to realize true gains.