Each block represents a consolidation range, in which the limits touches the support and resistance from the neighbor blocks.
February - April price went up, 1 block of euphoria, 2nd block, 3rd block of consolidation and then a perfect 50% retracement.
Fibonacci broke up then, and what happened? Same story. 1st block of euphoria, 2nd block, 3rd block of consolidation and then another perfect 50% retracement.
Now, it went up again and broke the previous high, forming a consolidation block unlike the previous 2 waves which started aggressively, and it seemed like it wanted to finally broke down but it was a fake break and it's back to the 1st block, just above the previous wave.
I think the best is to wait for it to get out of this block and a break above it, will confirm at least a short bullish movement.
February - April price went up, 1 block of euphoria, 2nd block, 3rd block of consolidation and then a perfect 50% retracement.
Fibonacci broke up then, and what happened? Same story. 1st block of euphoria, 2nd block, 3rd block of consolidation and then another perfect 50% retracement.
Now, it went up again and broke the previous high, forming a consolidation block unlike the previous 2 waves which started aggressively, and it seemed like it wanted to finally broke down but it was a fake break and it's back to the 1st block, just above the previous wave.
I think the best is to wait for it to get out of this block and a break above it, will confirm at least a short bullish movement.