Just a quick plot to study the bounce and subsequent retrace.
Looks like a PERFECT impulse wave ending with a double top at the 4.236 extension. So now we need to observe the retrace for clues about the momentum. Thus I have plotted a few zones of interest.
NOTE: this plot is measured on the bounce ONLY. I am going to integrate longer term fibs and update any changes.
This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.
First I saw 3618 on CoinBase as important which had been on my charts for over 6 monthss:
As it was being approached, I fined tuned the target a based on the downward momentum:
Getting closer, I started to see a bigger picture coming together:
After the bounce, I am still calculating the odds of one more leg down, based on these levels
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Oops, the last link above should have been this one:
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Approaching first zone of possible support
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ok, so here we are at possible Bear Exhaustion zone but they dont look very exhausted yet :(
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Good news is: this zone proves quite valid bad news is: bears do not look exhausted yet, but watching closely
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Fibs tell the truth EXACTLY! Closeup of the current zone amazing human decision process pre-defined by the Golden Ratio
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Almost as the LAST STAND, we might bounce soon
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Bulls are still working hard to defend that last stand zone