EuroMotif

BTCUSD short term UPDATE: Bitcoin to 3700 before next drop?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
This is an update to my previous short term plot linked below.
I was originally looking for a 12345 impulse to take price up to the 3700 range.
But instead that leg up turned out to be an ABC or a truncated 5.

However, the last leg down does NOT look like an impulse, but more like correction.
Thus my theory of a possible ABCDE, and the trendlines line up nicely for that scenario.
So this abcde could make for a wave 4, in preperpation for one more leg down in wave 5 to come.

My last short term plot:
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Background:
This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.

First I saw 3618 on CoinBase as important which had been on my charts for over 6 months:

Getting closer, I started to see a bigger picture of a 4 wave impulse that started with the 7400 drop:

As it bounced, 4425 came into focus as the big hurdle:

After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:

So now zooming back out to the original large 5 wave impulse, targets are in sight again:
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Comments

Sorry to bother you, having some trouble finding your fib how-to ideas you had posted some time ago. Do you still have those available?
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EuroMotif ThankUKind
@ThankUKind, Hello and no bother. I think you mean this Idea in particular
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ThankUKind EuroMotif
@EuroMotif, yes i believe that is it, i bookmarked it so i won't need to bother you again for it :D. Thank you!
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its failed
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EuroMotif etherwhale
@etherwhale, Indeed it failed. Guess it is back to my original plan
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Possible. On the other hand.
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Looks like 3700 is the key level that was put in on the 25th Nov. Bulls must break it to move up. (I think lol)
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