EuroMotif

BTCUSD hit Target and crashing? Bitcoin Retrace Watch

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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Part of my ongoing analysis of Bitcoin moves (see links below).

Uptrend hit next target just shy of 14k per last projection below.
And given a parabolic move, we can expect the parabolic drop .
Now we need to see if uptrend will remain in tact or go deeper.

9800-9928 is likely retrace point per the Golden Fib.
10.1k - 10,2k should produce at least a bounce.
10.6k might offer some support but not strong.

Previous analysis:
14k call <=Perfect
10k call <=6 wks ago
8.4k to 5.4k retrace
9.0k to 7.5k retrace
7.5k bounce Call <=Perfect
10k path laid out
10k final Leg


.

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Related Ideas

We got dump just in time as predicted to support area mentioned

After my last update about btc hit 13400 i told you guys to not get excited especially after we got 1 hr bearish div supported by 1 day and 2 days bearish div
See previous idea for more detailed view:


So in few hrs btc hit max fomo at 13900 and dumped hard to 10400 area as i said in some previous ideas that I am expecting rally pause and retrace for a bout a week range to calm down to area between 11200/11400 to 10400/10600 and it should not get broken with daily close for trend continuation and we hit it EXACTLY faster than anyone expected

So let me share my current view which is i see 10400/10600 is very strong and we should reverse from here as its my main condition to resume rally towards previous ATH forming strong wave 3 since from 7800 area

We got a MASSIVE hidden bullish div on 1 hr chart supporting my view and btc should consolidate for a bout a week in this range forming higher lows till it breakout

Warning if 10k broken expect blood and the end of this bull run

Hope this helps


Original updated idea:


Reply
as you may know better than me horizontal support doesn't work in parabolic trends. if the new trend is broken the whole thing bursts. there's no support to help it.
By the looks of the red daily candle it's already headed sub 3k's.... but since this market is amazingly maniac, holding the pink line could still propel further on... but tha's as I see it the last LIne in The sand... horizontal supports not relevant after that IMO.

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