Everyone is familiar with the Fibonacci sequence 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, 6765, 10946 and so on. Fibonacci extensions are calculated by taking one of those numbers and dividing by the previous number to the left, e.g the first Fibonacci extension is 10946/6765=1.618. Use the second number to the left for the next extension 2.618 and so on.
The Fibonacci extension sequence is 1.618, 2.618, 4.23, 6.854, 11.09, 17.94, 29.03 and so on. Redrawing the chart of last ATH $1163 to $152 low, with these Fibonacci extensions gives these targets:
Price has already almost reached the 2.618 target of $2798 with next target $4433.
