BTC.USD preliminary Retrace plot: Bitcoin pullback Road Map

30 พ.ย. 2019

Followup to my bigger picture plot posted here (click).

Retrace started exactly where it was "supposed" to (see above link).
The pullback appears to be significant and possibly a big correction.
Question of which wave is retracing (last small one or entire bounce).

An alternate view would be to consider retrace done.
If and when such signs appear, I will try to post as such.
But the exact turn was predicted thus my faith in this one.

$ 7503 - 7513 (blue) is the KEY zone to to confirm or deny the paths.
$ 7642 - 7656 (red) should be pretty strong resistance if retrace is real.
$ 7730 - 7745 (red) is the maximum expected, or the plot is invalid.


Part of my ongoing Bitcoin analysis, been hitting every important turn (click):
7860 Retrace Call
7650 Resistance Map
6850 Bounce plot
5882 critical number
8700 Top Call
21k possible target (still possible)
9k bounce call
14k target call <=Perfect TP
10k target call
7.5k bounce call
3.1k bottom call (EXACT 2018 bottom)


Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

.

1 ธ.ค. 2019

บันทึก

PING hit and noticed, lets see if it creates a bounce or if next zone is on the table.

.

1 ธ.ค. 2019

บันทึก

We have a wee bit of a bounce

.

1 ธ.ค. 2019

บันทึก

Last leg down on 1min , 4.618 can be end of a wave
and it happens to be at an existing support still think one more notch lower, but a bounce here is expectable

.

1 ธ.ค. 2019

บันทึก

We are at a pretty rigid support as evidence by the sudden halt in the drop several fibs right here.

.

1 ธ.ค. 2019

บันทึก

pretty cool subsequent bounces on fibs from 2 diff timeframes

.

1 ธ.ค. 2019

บันทึก

Bounce is still holding, about 1 hour after the drop's abrupt halt

.

1 ธ.ค. 2019

บันทึก

so much for that support show above :(
Looks like we are heeded to the $7250 area

.

1 ธ.ค. 2019

บันทึก

Ping Lets see if this one holds, not looking good.

.

1 ธ.ค. 2019

บันทึก

Once again the support is holding for a few candles Lets see if a real bounce materializes, but I am just not seeing any buyers....

.

1 ธ.ค. 2019

บันทึก

Support seems to be holding a little better than the last one

So adjusting the EW positions from original plot: If we get a real wave B, then 7500 is probably about it for that height.
And we have two significant resistances before we even get to that round number...
But wave B's (if get a real one) can be surprising, they start with shorts taking profit, then bulls jump in, until more shorts take profit, etc.
It is also possible (but not likely imo) that correction is done, we consolidate here for a while, then resume uptrend.
If correction is done, we should see "impulsive" waves upwards next...

.

1 ธ.ค. 2019

บันทึก

So the support from above snap held and bounce it into the resistances above It can be expected that the $7450 zone will be resistance now.
But would have been nice to have held the 7364-7378 zone.
Am assessing the latest pullback now to look for clues.

.