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EuroMotif
Mar 14, 2024 8:57 PM

BOBA.usd heads up at 1.3111: if not top, then a major landmark 

COINBASE:BOBAUSD720
Boba Network / United States DollarCoinbase

Description

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Quick post to alert of BOBA at a major fib..
Golden fib at $1.3111 is a major landmark.
What happens here will offer some clues.

It is PROBABLE that we get a pullback.
It is POSSIBLE to break and retest to fly.
It is PLAUSIBLE that we have "the top".

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Comment

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m1 view

like a little girl hop-skip-jumping over cracks in the sidewalk

Keep in mind that all of those lines are from a single fib series,
plotted well before price ever got there, yet humans react there.

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Comment

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Quick update on the m5 chart:

little girl still watching each fib,
so we watch 1.0262 above to break,
or 0.9589 below for support or break.

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Comment

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Just hit Golden fib at .8502

Best possible support until next golden below at .56

Zoom IN (m1)

Nice! see if bulls step up here.
If not, its prolly "over" for some time.

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Comment

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Bulls regained .8502 and took off:

It did dip below a bit but reclaimed pretty quickly

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Zoom IN (m1) and scroll back to the crossing:

Several Pings from underside,
could have collapsed the whole.
And it gave us a nice retest entry

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Zoom OUT a bit (m3) to look at the bounce thus far:

Adding a fib for the bounce (green stripe),
first guess of wave endpoint is the 4.236,
so we have a well defined barrier to watch.

$ 1.1350-1.1436 now the key level of interest.

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Comment

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Target hit and pierced

Pulling back now, lets see if it is a sustained retrace or not.
If it sustains then we can fib the retrace and guess at targets.

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Comment

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Pulling back from last plotted resistance

Perfect topping pattern in sync with the fib zone.

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Looking for pullback targets:

higher support at 1.0174/0262 the stronger one,
lower zone at .9394-.9589 wider but not as strong.
OR maybe it just takes off North from here, tho unlikely imo.

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Comment

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Follow up to last update above,

we just hit the first and "best" support in this structure

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Zoom in (m1)

And we have a "Ping" (exact and violent ricochet from fib that one can almost HEAR)

And my rule: "Not all Pings start a Reversal, but Most reversals Start with a Ping"

So lets see if this bounce has legs

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Comment

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As feared, the bounce was a "wave B"

Now watching .5655 for possible end of ABC correction.

But of course it all depends on BTC, so lets see.

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Comment

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ABC done?

We have a plausible completion of ABC at our golden fib at .5655.

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Comment

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ABC went just a little deeper than plotted

BUT notice the bounce on blue fib just below.

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Zoom in (m15)

PERFECT bounce on the 3.618 ratio fib,
and exactly to the opposite blue fib.

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So is the ABC corrections done?

I don't know if we can get new highs from here,
but am hoping to reach next golden at .8502.

CAUTION: this could be "Done" forever, so am only scalping now.

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Comment

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Bounce continues, just hit a "semi-major" fib at 0..7415

Next is a "minor" ratio at .7831,
then the "major" golden at .8502.
Might get a little dip here though.

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Comment

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Semi-Major fib at 0.7415 knocked us down:

Need to evaluate this pullback but that might be it for this bounce.

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Comment

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Followup to last snapshot above:

$ 0.7415 turned out to be the local top.
And invalidates the original plot for ABC.
But it might done now, need a closer look.

Zoom IN (m15) and adding a fib for the bounce

Looks like a pretty good guess for fib of thsi wave.

Adding that to the existing fibs and marking some zones:
We have some areas to watch,
starting with the 6.853 at $0.6194,
and if breaks then .67xx and .70xx.

Lets see if we can hit some of the targets above.

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Support and ResistanceFibonaccifibogoldenratio
Comments
Kothakapu
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what about Boba views from current level?
Kothakapu
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can we still buy boba at this present level?
markyegy12
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Nice charting! What's your prediction after 1.14?
EuroMotif
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@markyegy12, Hi, right now I am weary for an ABC correction, where A was the dip, B the bounce we are in, and C to come yet maybe.
So I will be evaluating this bounce to try and guage whether we make new highs or start the wave C down soon.....
markyegy12
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@EuroMotif, Where does the C wave land?
masterkukki
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Why would it be done "forever"? After an ABC correction, you normally get another wave (3rd or 5th) thats higher than one
EuroMotif
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@masterkukki,
Yes, normally after an ABC correction the trend should continue.
So I will be looking for clues of bul strength, like break of key fibs.

I was just warning of it being done forever possibly,
because many alts will have one big push each cycle,
then fade away while others pump and fade...
masterkukki
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Good call, hopefully it will bounce off 85 cents
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