BTCUSD bulls can confirm bottomed if this happens: Bitcoin signs
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I am doubtful we have bottomed, but would be happy to be proven wrong.
This is what bulls need to do in order to convince me (and presumably other bulls) that we bottomed above 3k.
We look to have started an impulse up, with a pretty strong wave (3), now working on wave (4).
If it bounces where it should, and procees to wave (5) being making a new local high, then we have a chance.
If we do not make a higher high, then the odds are that downtrend will continue to the sub 3k figure I think is coming.
.
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Background:
This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.
First I saw 3618 on CoinBase as important which had been on my charts for over 6 months:
Getting closer, 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:
After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:
So now zooming back out to the original large 5 wave impulse, targets are in sight again:
The current plot is to look for signs that we have already botttomed, and this would a first such sign:
This is what bulls need to do in order to convince me (and presumably other bulls) that we bottomed above 3k.
We look to have started an impulse up, with a pretty strong wave (3), now working on wave (4).
If it bounces where it should, and procees to wave (5) being making a new local high, then we have a chance.
If we do not make a higher high, then the odds are that downtrend will continue to the sub 3k figure I think is coming.
.
.
Background:
This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.
First I saw 3618 on CoinBase as important which had been on my charts for over 6 months:
Getting closer, 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:
After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:
So now zooming back out to the original large 5 wave impulse, targets are in sight again:
The current plot is to look for signs that we have already botttomed, and this would a first such sign:
Note
Here we are, a well executed impulse exactly to target 
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