EuroMotif

BTC risk of 25k bottom: 32.8k key support, 40.4k key resistance

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
25k looks like a good possibility for a "bottom".
Plotted are two fib series and their confluences.
Dashed lines ="Genesis Fib", solid = from the Top.

28.8 might have been a "Wyckoff Spring" bottom.
Many analysists this range as Accumulation zone.
Maybe the stab was indeed a Spring or Capitulation.

32.8 is now the critical support as bulls "last stand".
Recent attempt to break was thwarted, but just barely.
If broken, it could be a very quick trip (and wick) to 25k .

25k would make for a prefect psychological level to bottom.
20k is being watched by many many traders, perhaps too many.
29k was probably too shallow of a wick to take out enough longs.

BTC "Genesis Fib" with the most important levels:
Also see this "Post Crash Road Map" for key support/resistance
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Comments

that double ping at 48k may bring us down a notch
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@sirK3, indeed! Strong vertical move until then, but the pullback was due and that fib was the perfect place for a local top.
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sirK3 EuroMotif
@EuroMotif, I've actually moved my SL after I checked your chart ;)
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wickoff of nothing. go back to trading school, looser.
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Nice to see you back! I've missed the fib charts :)
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That’s a great guide. Thanks! :)
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Great one just like always !
Appreciate your great work mate ❤️
Thanks for sharing your outlook 😃
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Hey thanks for the update, as another person said below I also noted volume is low, it seems lots of interest has shifted to ETH at the moment, whether this is momentary due to EIP-1559 fomo, who knows, I will be keeping a close eye and will be curious to see what happens with BTC, while I am merely a noob, BTC does still look bearish, will the Jack & Elon debate on 21st July prove to be bad news for BTC? Time will tell, hope you are well Euromotif. Thanks for the TA idea.
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Always amazed by your work that i have no more say then I'm glad im look at same lvls as yours.
Btc likes arch below 200 period MAs before reclaiming it, same behaviour across all TFs. Thats what paying attention to.
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@lemongrab16 ps: it is doing that on the daily, btw.
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