EuroMotif

BTCUSD at a critical zone: Bitcoin Fib Confluence of Interest

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC has been following the larger tf Fibs quite closely.
Now we have two smaller tf Fibs in confluence here.
Price has not rejected yet, but bulls need to run fast.

Left chart is 12h tf with the primary "Golden Fib" in play.
Right upper is 1h tf, with an Impulse that might be ending.
Right lower is 15m tf, with small last Impulse also ending.

The left chart's 5.85 fib at $10,868 is the key resistance
The right upper 9.618 fib at $10,720 "should" have been top.
The right lower 5.618 at $10,881 is likely end of that wave.

Given the 3 fibs in play and current position, a pullback seems likely.
If bulls can breach $10,868/881 then it could run to 11.4k pretty easy.
If bears can push below $10,518 then another test of 10k becomes likely.

Part of my ongoing Bitcoin analysis, been hitting every important turn (click):
21k possible target (still possible)
9k bounce call (perfect bounce)
13k warning (early but valid)
12.4k Break
10.9k retrace
12k Impulse
12k target call <=Perfect TP
14k > 10k retrace
14k target call <=Perfect TP
10k target call <=6 wks ago
8.4k > 5.4k retrace
9.0k > 7.5k retrace
7.5k bounce call <=Perfect Entry
10k path laid out
3.1k bottom call (the EXACT 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.

.


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

Comments

Called it perfectly. I used our pivot tutorials in the past and made a killing, and now MAs, Oscillators, you name it, nothing compares to well laid out Pivots and fibs.
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EuroMotif TipTopTraders
@TipTopTraders, Hi there, thanks for comments.
Indeed, between Pivots and Fibs, they seem to cover all the 'lagging' indicators !
Wishing you continued success.
Reply
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