EuroMotif

BTCUSD bulls can confirm bottomed if this happens: Bitcoin signs

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
I am doubtful we have bottomed, but would be happy to be proven wrong.

This is what bulls need to do in order to convince me (and presumably other bulls) that we bottomed above 3k.
We look to have started an impulse up, with a pretty strong wave (3), now working on wave (4).
If it bounces where it should, and procees to wave (5) being making a new local high, then we have a chance.

If we do not make a higher high, then the odds are that downtrend will continue to the sub 3k figure I think is coming.
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Background:
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 months:


Getting closer, I started to see a bigger picture of a 4 wave impulse that started with the 7400 drop:


As it bounced, 4425 came into focus as the big hurdle:


After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:


So now zooming back out to the original large 5 wave impulse, targets are in sight again:


The current plot is to look for signs that we have already botttomed, and this would a first such sign:
Comment: Here we are, a well executed impulse exactly to target
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BTCUSD H4 Correction up. Checkout the idea detail's and update's for the complete picture!
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Mate - you have missed a potential triangle in your count.



We're going long!!!!!
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EuroMotif donaldsaw
@donaldsaw, Good point! thanks for sharing.
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thnx euro for the analysis..

but i still think that this is corrective for the the last leg down...
it is indeed a impuls but in my primairy this could form a nice A wave.


what do you think?
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@dave83, yeah, I still think we have another leg down too. But just keeping an open mind, looking for those first possible signs that we are wrong :)
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dave83 EuroMotif
@EuroMotif, yes same here always keep all options open. And always keep adjusting the count.
That is the reason why i always have a secundairy count lying around
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Awesome. I think this will play out.
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@Xzhi, Thanks and Lets hope so. Being a long term bull on crypto, it has been tough. Not just because of the price drop, but all the people saying crypto is dead has got to stop.
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samartk EuroMotif
@EuroMotif, You have a some great analysis. I really hope this plays out too. But a apart of me feels like you're right we might get rejected at 3.7K and fall under 3k before any confirmation up. Also keep you're head up bro, crypto has died and has been resurrected several times. Growing pains a of a tiny market with low liquidity and many large unregulated players.
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