Why 52k is my medium term target

People ask why I think 51-52k is a likely target?
The 0.618 fibbonacci level is at 48k. If you look at every cycle in history that fib level gets hit after every bottom.
But that's not 52k?
Take a look at the 350 period long moving average in green.
Price also reaches that level every time and it is currently sitting at 51k.
Good luck and God bless