BTCUSD short term UPDATE: Bitcoin to test 4044 most likely

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Quick plot of the correction to the bounce.
Looks like an ABCDE is forming, rather than a simple ABC .
4044 was a critical line in sand all along, a retest is almost 'needed'

This is another short term update to my bigger picture tracking of the bounce described below.

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:

As it was being approached, I fined tuned the target a based on the downward momentum:

Getting closer, I started to see a bigger picture coming together:

As it bounced, I had hoped for a 4500-4700 peak:

But then 4425 came into focus as the big hurdle:

So here we are now, trying to gauge the retrace
Nov 30
Comment: And here we are, retest of 4044. Will it hold? got a bounce anyway, watching closely now
Nov 30
Comment: 3950-70 looks like automatic now
Nov 30
Comment: well, at least each zone is being noticed and a reaction is happening, but no signs of a 'V bottom' for this little collapse yet :(
Nov 30
Comment: ruh roh, I guess it is on to plan 'B''
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Incredible work as usual!
EuroMotif monguilhot
@monguilhot, ty my friend! Hope it provides another viewpoint to consider...
monguilhot EuroMotif
@EuroMotif, Do you have that same "long term" count?
EuroMotif monguilhot
@monguilhot, Yes, very similar long term count. Only I saw a structure starting with the drop 7400 that I am still debating, and if correct then your ABC might be w4 on my bigger order:
monguilhot EuroMotif
@EuroMotif, Thanks for comment friend... In a very long term view, as you can see in my chart, the "frequence" of time in BTC is pretty regular... 27-29 days for bulls, 35-50 days for bears, and we are in the end of "bears time". This is why I dont believe in more down for now, Im not disagreeing with you, just point my broader view.
EuroMotif monguilhot
@monguilhot, Interesting time analysis, Thanks! Being a bull, I sincerely hope we have painted the bottom already, or at least for the next 35-50 days I guess. I will take a closer look at time scale, ty
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