EuroMotif

BTCUSD ever gonna bounce? Bitcoin wave end in sight but ugly

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Throwing some Fibs and EW around, and this kinda snapped in place.

Perhaps the drop from 7400 to 6200 was a wave (1).
So maybe we are in a wave (3) related to that impulse.
Question is whether wave (4) retrace much at all.

Drag up on the price axis to magnify and better see the overlapping prices on the support zones.

As usual, lets see how this plays out.
Nov 25
Comment: Looks like wave (4) might be under way. Regardless a decent bounce at the fib levels expected
Nov 25
Comment: Close up of the zone plotted, seems quite accurate
Nov 25
Comment: Bounce looking decent. my next zone of interest in green
Nov 25
Comment: Still on track looks like we might even attack 4k
Nov 25
Comment: Pierced first resistance, watching the pullback
Nov 25
Comment: Was that it for wave 4?
Close up would not be surprised by a bull trap exactly 4044 or a wee bit higher. But it it breaks and is then held as support on pullback, I will re-evaluate
Nov 25
Comment: Under a microscope, watching this correction
Nov 25
Comment: Nice bump above, but now we are at the critical zone is it a wave 3 going up? or ABC completing and prep for next leg down?
Nov 25
Comment: looking more and more like a classic AB=CD, 0.618 to -0.382
Nov 25
Comment: Moment of truth
Nov 25
Comment: This is the critical zone in red. not just for my trade, but for the forseeable future of BTC pricing. Breaking the first serious resistance is a step towards trend change
Nov 25
Comment: Close up of the action on 1min chart WOW, every single day I am awestruck by the precision of Fibs and their effect on the human brain. Why 4044 on Coinbase? I have no idea but the fibs told me it would be important...
Nov 25
Comment: This two Fib Extensions are what whispered ''4044'' to me 2.618 of first impulse, 4.618 of second impulse, like Jupiter and Saturn in aligment
Nov 25
Comment: One short term possibility
Nov 26
Comment: Here we are again, that 4044 line might break through this time?
Nov 26
Comment: Bounce thus far looks like a classic ABC correction, rather than a 12345 impulse up. The near perfect 0.618 to -0.382 leg makes for an AB=CD. Maybe we keep going up, but that pattern, and the resistance above makes me think it is probably to move down. But lets see....
Nov 26
Comment: PING. just hit first possible support. Watching closely
Nov 27
Comment: well, we all know what happened after that last pic above, bears broke below. But for an update: Bulls seem to be defending the support zone, with a high low on the next day. But they need to get past the 4044 resistance and prove is a support, otherwise the sentiment will remain bearish..
.
Nov 27
Comment: Perfect kiss of the 4044 line
Nov 27
Comment: Another close up of the crucial resistance zone , on 1 min chart
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Hi, long time no see. I want to get advice from many chartists.
This is my personal opinion, concluding summary of the things below.
Futures(CME, CBOE) Expiration Date, 50days Pattern, Comparison with 2014
Where do you think is the most likely position for BTC to rebound?

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@pkb6698, Hello and thanks for sharing. you detailed chart looks to be in agreement with what I am expecting as well, one more lower low before the 'real bounce'
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Nice.
Reply
@rludvik, ty
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