EuroMotif

BTC bounce UPDATE: near term resistance zones of interest

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
This is a followup to my 3.8k Bottom Call (click).

Quick update to map upcoming resistances.
Bounce thus far looks reasonably strong.
What happens at the resistances above is key.

$ 6359-6418 is immediate resistance, possible end of small order wave.
$ 6839-6969 will be pretty strong resistance, likely end of this leg.
$ 7198-7278 is maximum expected, assume we get past 7k round.

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My previous charts catching every key turn and giving early warnings (click the links below):
3.8k Bottom Ping
7.7k Retrace Target
10.5k Top call
9.7k Bounce <= mapped within $10
8.2k to 10k wave 5
9k barrier Foretold <= Warning in Time
8475 Top Call <= Mapped within $5
Sub 7k Foreseen
Big Picture Fibs <= the 3 Fibs of Life
14k target call <=Perfect TP
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.

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Comment: Playing out Perfectly.

Price action exactly as expected thus far Now at that 2nd resistance just hosrt of 7k.
That is a double fib, which make for strong and precise boundaries.
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Comment: Yup, that Double Fib mentioned above was strong as expected Pulled back hard, and now might be in an ABC wave down, with further downside.

Measuring the pullback now for any clues on outlook.
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Comments

we are going to test the bottom
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I really like your work, thanks... what do you make of the last move under 6050 ? Do you reckon we're headed to 5750 or possibly lower ?
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Great work- I've been watching your updates for a while now. I'm curious to know how you choose where to put the smaller Fib inside the larger Fib. Thank you
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EuroMotif RyanKCSP
@RyanKCSP, Hello and thanks for your kind feedback and good question.

I look for an "Impulse" (clear directional move for limited duration) which then creates "Ripples" (fib multiples). Then I need to see "Pings" (clear reaction) to the first couple of extensions like 1.236 or 1.618, or at the latest 2.618 for strong moves. If I get 2 such confirmations, I know the Impulse id was good, and can count on the rest of the extensions until they stop reacting.

Thus I try to map each Impulse and its ripples, and then look for confluences between various fibs.
+1 Reply
RyanKCSP EuroMotif
@EuroMotif, Really interesting. Thanks for getting back to me and the detailed response.
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Big, bouncy cat, if you ask me
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Does this leg down start from the beginning of September?
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EuroMotif RTurner090
@RTurner090, Indeed, it does, here is the complete fib It is almost as if it was "supposed" to have come down here all along ....
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RTurner090 EuroMotif
@EuroMotif, Interesting that you found a sequence from September. I was not even looking there and as a result was having some troubles finding fibs that lined up well. Seems like we have another leg down after this relief rally.
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EuroMotif RTurner090
@RTurner090, I had this fib on my charts since the drop started in September,
But I had written it off as not being relevant any more, until the pings at recent bottom..

Also, that Impulse had rejected twice from its "Core" (0.382-0.618) and the bottom pings confirm its continued influence
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