Quick post to map upcoming Resistance Zones to watch.
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):
<= Most others were Bull <= the 3 Fibs of Life <= Still Important <= within 20 cents! <= exact Top AND Bottom hit <=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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Comment
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Reacting Exactly as Expected
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.
My guess is, BTC could be petering out - and that's just a guess since I have no crystal ball no longer works :) The last two times it did its parabolic dance, it reversed hard after running into stiff resistance. My guess is that its still heading down into the 5k range, but that's solely based on what I'm seeing on this chart. I could be totally wrong, though.
What cha think?
Pop-A-Bear
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Lol! I like the "HI-RES" part! ;)
But, BTC busted through the $8300 barrier, but you're right about it being parabolic. If Mr. Ichimoku is correct, it looks like it will get stunned around $8500. Time will only tell....
Tiger_Style
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Nailed this one, thanks for the chart!
EuroMotif
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@Tiger_Style, Thanks for your kind feedback, much appreciated.
LuckyTrader102
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Do you think i can drop to 8200 or go 8600 9000?
EuroMotif
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@LuckyTrader102, I guess the next move will depend a lot on what the US does today with this market.
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.
LuckyTrader102
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@EuroMotif, So now your opinion is it could go down from 8350 to ~8000 for power and push again to 8500, if it reach 8600 so can hit 9000 ?. i am right?
EuroMotif
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@LuckyTrader102, Kind of, guess I should have been more clear.
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.
LuckyTrader102
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@EuroMotif, Thank you. I am agree with you because my TP at 8550. Good luck my friend.
What cha think?