Quick plot to show how 11k might be tested.
We look to be in an ABC retrace per Elliott Waves.
If so, wave C should have 5 sub waves as plotted.
11,077 - 11,097 is likely target and bullish defense of 11k.
10,907 - 10,887 would be a stop hunt under 11k, also possible.
10,800 or under would require rethinking of the structure and fibs.
Part of my ongoing Bitcoin analysis (click):
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)
We look to be in an ABC retrace per Elliott Waves.
If so, wave C should have 5 sub waves as plotted.
11,077 - 11,097 is likely target and bullish defense of 11k.
10,907 - 10,887 would be a stop hunt under 11k, also possible.
10,800 or under would require rethinking of the structure and fibs.
Part of my ongoing Bitcoin analysis (click):
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)
Comment:
First target hit, albeit via different path than imagined
.
Now lets see if it holds or a stop hunt under 11k will take it to the next target .... .
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
.