BTC watch 90 then 85k: Targets for the well foreseen Retrace
Updated
BTC peaked at a wave end point projected by our fibs.
Retrace progressing with speed and very few bounces.
Adding a retrace fib gives us a few key targets below.
$ 88,976 - 90,177 is the Minimum Expected dip.
$ 84,686 - 85,714 is the Strongest support below.
$ 80,438 - 81,289 Speed Bump only, unlikely to hold.
$ 77,179 - 77,672 is a MUST-Hold for bulls or its "ova".
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Previous Analysis:
Big Picture projection of 97.8k break and run to 105k
Near term warning of possible top at $104-105k
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Retrace progressing with speed and very few bounces.
Adding a retrace fib gives us a few key targets below.
$ 88,976 - 90,177 is the Minimum Expected dip.
$ 84,686 - 85,714 is the Strongest support below.
$ 80,438 - 81,289 Speed Bump only, unlikely to hold.
$ 77,179 - 77,672 is a MUST-Hold for bulls or its "ova".
================================================
Previous Analysis:
Big Picture projection of 97.8k break and run to 105k
Near term warning of possible top at $104-105k
==================================================================
Trade active
BOING
Hit our "Minimum" expected target and bounce STRONG.
.
Zoom in (m5) with some notes
Bounce was off the red 4.236 as expected.
So good chance this particular wave is done.
But ALAS, major hurdle going into 97.5-97.8k.
.
SUMMARY:
- Bounced PERFECTLY from our Minimum target.
- Now watching 97.8k as a major hurdle next.
- First dip wave done but we might get another dip.
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