EuroMotif

BTC bounce Update 7: now in Decision Zone going into Weekly Open

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Part of my ongoing analysis of price action (see links below).
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Between Mod duties and my own trading, it is not easy to post.

CHART NOTE:
If you are seeing "fuzzy" numbers, it is a bug with TV rendering, not on purpose.

As you know, price has been chopping aimlessly for several days.
The only clear result is that neither Bulls nor Bears are confident.
Maybe the new Weekly Open will bring some clues about sentiment.

Virus sentiment:
- China looks to be coming out of the Corona Death Grip.
- Europe may be near Peak spread Rate in Italy and Spain.
- America has yet to Flatten the Curve even in urban areas.

Economy sentiment:
- China claims to be re-opening businesses and factories.
- Europe still in lock down but maybe turning the corner.
- America will drop rescue money to people and companies.

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Previous Plots of this bounce:
Bottom of Crash : $3850 Bottom Taggged
Bounce Update 1: $6950 top Plotted
Bounce Update 2: $5900 launch caught
Bounce Update 3: $6600 top Plotted
Bounce Update 4: $6200 Foreseen
Bounce Update 5: $7300 Top retrace
Bounce Update 6: $6600 Bottom?
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The Big Picture pointing to $7413: "One Fib to Rule them All":
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My older charts catching every key turn and giving early warnings:
Mar 06, 2020: 9.2k Top Call
Feb 13, 2020: 10.5k Top call
Feb 10, 2020: 9.7k Bounce <= mapped within $10
Feb 08, 2020: 10k Targetted
Jan 17, 2020: 9k barrier Foretold <= Warning in Time
Jan 07, 2020: 8475 Top Call <= Mapped within $5
Jan 01 , 2020: Sub 7k Foreseen
Dec 29, 2019: Big Picture Fibs <= the 3 Fibs of Life
Jun 02, 2019: 14k target call <=Perfect TP
May 12, 2019: 10k target call
Dec 03, 2018: 3.1k bottom call <=EXACT 2018 bottom

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My "Book" detailing my Methodology with Numerous Examples:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed views and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: one Ping only

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Comment: Weekly Open with a small bounce.

Stocks got a bounce at open and so did BTC Not much of a bounce but jumped out of the decision zone.
Now bulls need to hold the top of that zone and confirm it is as support.
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Comment: ( ( Ping ) ) Just hit lower bound of resistance zone, first defense of 7k round
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Comment: Ping

another perfect tap of resistance.
Lets see if we get a pullback here.
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Comment: Another Ping in the making perhaps Been going strong all night, Wall Street about to open.
Lets see if the risk-on sentiment persists into US session, Asia and EU bought.

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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

Comments

@EuroMotif Just pinged that $7400 fib
Reply
you made good analysis) it's my btc analysis
Reply
What is next now? Do you thinkk it will go up?
Reply
EuroMotif LuckyTrader102
@LuckyTrader102, I am thinking that if bulls can hold 6820 then we have a shot at 7400.
Stocks opened positively in Asian market, if that continues into EU and US markets then btc will have a very good chance at that target...
Reply
@EuroMotif, Uhmm 6820 on which frame time?
Reply
EuroMotif LuckyTrader102
@LuckyTrader102, 6820 important to me on any timeframe.
If above, better odds for bull, if below better odds for bear is how I look at it.
Reply
@EuroMotif, Hi, after follow you in a long time. i am very supprise with your fibonanci skill. Can you introduce me some book about this, i want to learn deep.
Reply
Radbikerboy EuroMotif
@EuroMotif, S&P500 Futures up nearly 4% at the moment
Reply
EuroMotif Radbikerboy
@Radbikerboy, wow, indeed they are!
From what news I found, it seems Japan is about to announce a stimulus package and I see the Nikkei is leading the indices.
Lets see if the sentiment follows into EU and US sessions ....
Reply
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