EuroMotif

BTTUSD update: ABC target still 6500 but new fib formed

BINANCE:BTTUSDT   BitTorrent / TetherUS
BTT did not get much of a push with BTC's last run up.
That tells me it needs to finish a real ABC correction.
The likely target (6500) still remains the same for me.

I have been watching the developing Red Fib.
It has been confirming each line precisely.
Such confirmations indicate wave C progress.

Red Fib aligns with previous support 82-8300.
So there is a small chance for double bottom .
I am thinking at least one zone down to 77xx.

But my Ideal entry remains 65xx zone as previously.
The new fib has confirmed that to be even stronger.
With Alts you need super tight SL and Fibs give us that.

Mar 03
Comment: BTT still following this red Fib quite closely. Looks to be getting rejected from above, and it has already pierced immediate support below. So 6500 looks even more plausible now, but a break above the red 3.236 would make me reconsider.

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Mar 03
Comment: Close up showing the EXACT pings of the top of boundary, the red 3.618 of the retrace fib
WOW

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Mar 03
Comment: I was curious about the breach of the lower support zone, and what might have prevented it from dropping to next support. So I wondered if there was new Impulse in play and THERE IT IS the blue fib created by the tiny impulse that started the big sudden drop. Notice the immediate drop stopped exactly at the 5.618, and then received several Pings, and finally the 9.236 bounced it, and EXACLTY.

Zooming back out and including the new blue fib, two immediate thoughts 1) we are strong resistance give the Confluence of red 3.618 and blue 6.618, not to mention the older 1.618.
2) it is POSSIBLE that wave (c) is done because Band 9's are often wave enders.

However, that Band 9 bounce might end of a subwave, to ultimately pullback further like this So perhaps with an ABCDE substructure to (c) is in progress.

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Mar 04
Comment: Despite the shorter term blue fib mentioned above, the original Red fib in live chart is still being confirmed at each band
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