I have been harping on and on about $7450.99 both on the way up and down. It is a key harmonic in the "Golden Fib" that captures the entire 2019 price action. There are really only FOUR key lines (Gold) with their sub-ratios (Blue) you need.
You surely remember the battle at 7450 on the way up in first half of 2019. Same thing now, only it looks to be a mirror image currently (bears in control). From Chess it is the "e5" square. From volume profile it is the "Point of Control".
It is easy to see that if bears hold $7450, then bulls are likely to fall back to $5882. Yesterday's spike "Pinged" that fib, lurched back, and is now wobbling on weak knees. Bulls must retake that key line and confirm it as support, or they will take 2 steps BACK.
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Part of my ongoing Bitcoin analysis, been hitting every important turn (click): <= Fib within 1 dollar <= Just in Time! <= Fib within 20 cents! <= Still Plausible <=Perfect TP <=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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Still Negotiating will we get a ping to the upside?