Update with fine tuned zones/paths to my Ongoing Analysis (see links below).
ChainLink correction proceeding as expected, destinations becoming more clear. Plotted are two possibilities: Blue path is more likely, Red path is quite plausible. It is also possible that correction is done, but I am not seeing any such signs yet.
Chart Notes: Drag UP on the PRICE scale to reduce number overlap. Drag RIGHT on the TIME scale to see more history/fibs. Drag Up/Down on the CHART to see zones above/below.
Update Notes: I add a lot of real time updates to my Ideas, in the comments section below. If you "follow" me or this Idea, you will get notifications with each update. When the outlook changes dramatically, I then post a new Idea like this one.
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Previous LINK analysis: (still in play) (quick easy pips) (not triggered) (perfect exits) (several long entries) (perfect roadmap) (caught recent bottom) (caught the breakout) (caught all turns) (caught exact bottom)
Of course, I have had total FAILS on some ideas too, not going to pretend. But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
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Currently hung up on the 2.7150 line
Zoomed in we see the reaction is EXACT And it was a triple-tap. ie: it is probably going lower from here.
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IF the above (2.7150) holds as resistance, then we are probably head down the RED path ie: wave (A) might not be done yet. Lets see if we get a lower low or not.
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Perfect Ping on Target Lets see if we can get a decent bounce here
@puneetkaku, he who laughs last, laughs best. LOL
I expect to see BTC hit 7.5k in a couple of weeks. We may get a slight pump then, but it wil continue to fall. BTC is u der attack by Wall Street and the U.S. govt. 4.5k may seem unrealistic, but so was 8k a couple of months ago. BTC is extremely bearish and I see nothing on the horizon that will change that.
BDG
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@puneetkaku, when I posted my last comment, BTC was between 8k and 8.1k. It just dropped below 7.4k this morning. I said it would take a couple of weeks, but it looks like the attack on BTC has increased significantly. If you still think BTC is going to the moon, and taking Link along with it, then you may be disappointed. It will have to drill a hole through the earth first to get to the moon. LinkUSDT is down 6.7% today.
puneetkaku
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@puneetkaku, I was expecting the price to 6.4 not below
BDG
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@puneetkaku, many people are expecting support at 6.4k. But there was no resistance when it broke through 6k going up so there should be no support when it falls through it. If you look at the volume profile for 6k for this year, you will see a gap there which means no support. A lot of people are going to be surprised me thinks. :-)
Pop-A-Bear
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Have the feeling that your "red" path might in-play here.
EuroMotif
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@Pop-A-Bear, hi, agreed, looking more and more like the "red path".