EuroMotif

BTC.usd near term Support Zones for imminent pullback

EuroMotif Mod Updated   
COINBASE:BTCUSD   Bitcoin
Quick post to map some possible support zones on Hourly.
Pullback is already under way, and 1st support was Pinged.
Based on the reactions thus far, I think 7200 test is likely.

7450 remains the critical "line in the sand" for trend direction.
7350 would be an excellent support to hold and launch next wave.
7215 seems likely to be hit, and it should bounce fast and strong.

.

Part of my ongoing Bitcoin analysis, been hitting every important turn (click):

6432 Bounce Call <= Fib within 1 dollar
7800 Dump Warning <= Just in Time!
7080 Rocket Foreseen <= Fib within 20 cents!
7860 Retrace Call
7650 Resistance Map
6850 Bounce plot
5882 critical number
8700 Top Call
21k possible target <= Still Plausible
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.

.
Comment:
Perfect Ping

Very nice reaction at the exact Zone that I hoped would bounce it
Zoom in (3 min) for a closer look at the bounce reveals a PERFECT Ping and it bounced into the support zone above which is now acting as resistance.

Lets see if bulls can get past this resistance.

=========================================================================================
Comment:
New Support Zone.

Last leg down defined a new fib (purple) which in conjunction with the existing red 5.236 defined a new support I had that red 5.236 on chart, but discounted it because it was my itself at the time.
Now with the new wave downward, it added another resonance point (purple 3.236) which joined the red 5.236.

Thus the process:
- Plot each wave/fib available.
- Add new fibs when a new wave occurs.
- Compare with existing fibs for any new zones to add, or old zones to adjust.

=======================================================================================

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.