Bitcoin is riding yet another Parabolic wave of growth.
Plotted are upcoming Resistance zones of high interest.
Expect a reaction at each zone and study it for clues.
$ 8123-8135 is immediate resistance, was pierced but will still be tough.
$ 8281-8284 is a TIGHT fib confluence, reaction might be at +/- $10 or so.
$ 8425-8475 is a likely TOP with several Wave Ending fib ratios within.
Part of my ongoing Bitcoin analysis, catching every key turn (click):
Sub 7k Foreseen <= Most others were Bull
Big Picture Fibs <= the 3 Fibs of Life
6432 Bounce Call
7450 Critical number <= Still Important
7800 Dump Warning
7080 Rocket Foreseen <= within 20 cents!
7860 Retrace Call
6850 Bounce plot <= exact Top AND Bottom hit
9k bounce call
14k target call <=Perfect TP
10k target call
7.5k bounce call
3.1k bottom call <=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.
Hit the Strong Resistance zone just shy of 8500
Zoom IN (1 min) for a closer look at this zone It is clearly being noticed.
If pullback starts in earnest, I will start measuring the wave down.
But for now this looks like just Profit Take more so than Shorting....
As expected, pulling back to find support. First stop is the 828x "previous resistance" zone in red I am thinking we will retest 8200 zone at the green arrow.
that is a new Support zone shaped by Purple Fib of the drop.
Lets see if we go there, and so, what happens. This first zone is putting up a fight.
I have posted an Plot with updated Zones here:
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What cha think?
8200 is pretty tired from holding up so long. Price needs to get off it soon or will melt through it.
I can imagine an 8k retest before going much higher.
The next approach to 8500 will be key. It could easily reject and dump to 8k, or break and run, which should then hit 9k.
I think we are going to hit 8500 again, and then either drop to 8k from 8.5, or break 8.5 and run to 9k.