EuroMotif

BTCUSD bounce UPDATE: Bitcoin bottomed or one more dip to come?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Maybe it has bottomed and we go up from here.
But I think we still have one more leg down.
How far this bounce rises will tell a lot.

Of course, lots of folks are calling for 1k and such.
Sure that is possible as well, but for now I am looking to catch the serious retrace up.


This is a followup to my previous Idea looking for ''the bottom'':
In the above plan, I got TWO trades from the 3500 zone to the 4000 zone!
Rarely does any asset give you two such opportunities, and I gotta admit the second long was a bit scary....
.

.

Dec 06
Comment: Proceeding roughly as expected. The last wave (Blue Fib) seems to have locked into the original target zones ( which I have adjusted slightly)
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One more dip IMHO. Your chart looks great!
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Very well done, been following your trade. I got in a second long as well from the 3600 range, although I took a few paper cuts getting in. I also think we are going to see another wave down. Although my resistance areas are slightly different , I am on high alert as we sit here just under 4k. As always, thank you for posting these and well done.

-TUK
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EuroMotif ThankUKind
@ThankUKind, tyvm ! yeah, the second long was dicey for me too, I got chopped a couple times and almost gave up but went one last time with a right stop loss at a Fib I round on the 5 min.
And now we wait. I have closed most of position, with trailing stop on rest. If we break 4044 again and truly hold it as support, I might jump back in. otherwise, hoping to next leg lower to plot and catch that bounce.
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