BTCUSD retrace watch: Bitcoin Bulls pushing hard
Well that was a nice run up.
No break of 4k yet but trying it seems.
I gotta believe we have a pullback due.
So I have marked a few zones of interest, for possible buy-backs.
But if price breaks 3900 (let alone 4k) then the zones will be invalid.
The concepts will still apply, but will need a new Down fib to measure.
.
Background:
This is a continuation of my calculations to find the 'bottom' of the 6k dump, and consider whether it will go any lower or not.
As the dump progressed, I started to see a bigger picture of a 4 wave impulse that started with the 7400 drop:
As it bounced, 4425 came into focus as the big hurdle:
Zooming back out to the original large 5 wave impulse, targets were in sight again:
Then we had a strong bounce with perfect 12345, which I expected to top at 3800-3900
As the bounce progressed, a top and new bottom came into sight:
The as we dumped from 4k ,this Fib came into sight early on
So now that have had a significant bounce, am looking for retrace zones of interest with current plan
No break of 4k yet but trying it seems.
I gotta believe we have a pullback due.
So I have marked a few zones of interest, for possible buy-backs.
But if price breaks 3900 (let alone 4k) then the zones will be invalid.
The concepts will still apply, but will need a new Down fib to measure.
.
Background:
This is a continuation of my calculations to find the 'bottom' of the 6k dump, and consider whether it will go any lower or not.
As the dump progressed, I started to see a bigger picture of a 4 wave impulse that started with the 7400 drop:
As it bounced, 4425 came into focus as the big hurdle:
Zooming back out to the original large 5 wave impulse, targets were in sight again:
Then we had a strong bounce with perfect 12345, which I expected to top at 3800-3900
As the bounce progressed, a top and new bottom came into sight:
The as we dumped from 4k ,this Fib came into sight early on
So now that have had a significant bounce, am looking for retrace zones of interest with current plan
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