BTC correction targets: Update May 15

16 mai 2018

Here are my two updated targets based on last week's price action.

I expect a bounce as I post this, THEN I will look for a short.

I will update this idea as things develop.

16 mai 2018

Note

That 8k test looks be coming

16 mai 2018

Note

This Idea is a follow up to previous plan, which seems to be playing out

16 mai 2018

Note

wow, better bounce that I expected, lets see if this still plays out, as it is still viable

16 mai 2018

Note

BTC looking pretty supported, but not out of the woods yet.
A break of the orange line should get some bulls back in the game.

17 mai 2018

Note

Approaching my first possible target around 8k

thinking it might breach 8k to take stops then bounce.

18 mai 2018

Note

Zone hit, tiny bounce, not impressed.

18 mai 2018

Note

Bounce looking pretty good so far.
Not ruling out next possible destination (yet)

18 mai 2018

Note

Nice impulse wave coming off the support

18 mai 2018

Note

Wow! but I think I would actually prefer the micro c wave to spike down to 8150, then rocket up.
s3.amazonaws.com/tradingview/snapshots/u/u3XVBSXZ.png

18 mai 2018

Note

overshooting 618's to hit 786's, strong imo (at least until next red tidal wave) :(
s3.amazonaws.com/tradingview/snapshots/t/T3uqUK4U.png

18 mai 2018

Note

all right whales, here is a plan you can execute quite nicely, for that massive school of krill
s3.amazonaws.com/tradingview/snapshots/d/dNiuSgjI.png

18 mai 2018

Note

Back to microscope, would love to see a double bottom ABOVE 8200, but I guess 8150 would be better in long term (wishful thinking?)

19 mai 2018

Note

Here comes that micro C wave, lets see if the support zones hold

19 mai 2018

Note

Maybe something like this:
Maybe something like this?

19 mai 2018

Note

Bulls hoping to see something like this

19 mai 2018

Note

8150 should hold, barring whales dumping.

19 mai 2018

Note

IF the correction is over, AND we will get an impulse wave up,
then this coming wave 3 up is going to need some volume to blast through resistance.
So I am thinking EU bears tonight will bring it down for sure.
Hoping 8k is not even approached, but holds fast if hit.

19 mai 2018

Note

on cue. good morning EU bears!
s3.amazonaws.com/tradingview/snapshots/5/55SM2aGH.png

19 mai 2018

Note

Microscope says holding for now, but not much volume to be confident

19 mai 2018

Note

wow, it is holding. 8200 is probably where the bears are camped

19 mai 2018

Note

A moment of truth here for BTC.
If bulls can break 8220 gdax and hold it, might mean the correction to this first impluse from ''bottom'' is done and time to look for that new impulse to surf

19 mai 2018

Note

Still in critical zone (short term).
Back to 8200

19 mai 2018

Note

Nice break spring from 8200.
getting more and more confident the bottom was found

19 mai 2018

Note

Nice 618 tap. This could be start of a micro wave 3.
If it goes fast and furious, then it is, duh :)

19 mai 2018

Note

If bulls break 8200, then 9200 could next stop.

19 mai 2018

Note

9200 looking quite plausible

19 mai 2018

Note

As anticipated, the 8350 zone exhausted the bull power for now.
But the bears are not pushing down very hard.
Evaluating further and will post update with new analysis of last move.

20 mai 2018

Note

8350 smashed, looking higher.
Still think 9200 is on the table.
Looking for a pullback to gauge Bear strength.

20 mai 2018

Note

A look at the BTC bounce zone in detail.
Each of the green boxes derived from Fib bands.
Notice the price 'knew' where these zones were.
Just like Lightning knows point of least resistance on ground before leaving the cloud.