BTC eyes on 63.3k: the Mason-Dixon line of correction from top

Updated

This is part of my ongoing analysis, see links below.

We have been orbiting 63.3k for several days.
It is a key level of the wave down from the top.
North of 63.3 is bullish, South of line is bearish.

This chart is also a good example of my concept.
The red fibs are extensions of an Impulse (fib 0.1).
Purple lines are retracement levels of entire wave.

Previous plots and logic that lead here (click the links):
- 73k Top Call no one expected
- Retrace Roadmap of Support zones
- 56.8k imagined but not believed
- Impulse Redux confirms the targets
- Fine tuned plot calls 56.8k bottom

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Note

(( ( PING ) ))

Ping = exact ricochet off fib that you can almost HEAR

There have been quite a few such Pings on this ifb

And that is how fibs become MORE accurate with time,
All humans/algos/indicators have recorded the reactions.
So now even the Fib-blind are keenly aware of this level.

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Note

Nice little pop to sister fib

The 2.382 is a minor fib, compared to 2.618 major.
But the bounce hit the 2.382 and stalled to confirm.
So now the bulls need to flip $64,255 into support.

Note

(( ( PING ) ))

Back to the Mason-Dixon line, red 2.618 at 63,306.

Lets see if bulls can take this energy and run with it.

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Note

(( ( PING ) ))

Only it is on the sister fib BELOW the Mason-Dixon line.

Lets see if this holds.

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Note

Thus my enthusiasm for Pings

"Not all Pings start a Reversal, but Most reversals Start with a Ping"

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Note

Did I mention my enthusiasm for Pings?

That may have been the BOTTOM, or at least we can say:
IF there is to be a bottom anywhere NEAR here, then THAT was it.

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Note

(( ( PING ) ))

Another Ping, another fib LOWER :(

We are now 2 fibs below the Mason-Dixon line:

3.236 is a Semi-Major fib ratio,
3.001 is a Minor ratio but relevant,
2.618 is the Major and Do-or-Die level

Now to see if bulls can retake 63,406
or if bears break 60,820 and push lower.

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Note

Finally some Bull Pings!

Zoom in (m3)

Break and retest of the 3.001 fib at 61,766.06 was key.
"3.001" instead of "3" just to keep all fib levels to 4 digits
3 is a fib sequence number, but not often relevant.
When a fib set holds for a long time, the 3 shows up.

.

Zoom back out

Almost back to the Mason-Dixon line (2.618)

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SUMMARY:
- Got a good bounce past a proven fib.
- Looks likely to retest key level of 63,306
- We should have decent support at 61,766

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Note

(( ( PING ) ))

That is our most important level right now, the 2.618 or Mason-Dixon line.

ie: Moment of Truth

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Note

Still loitering around the Maxon-Dixon line

But currently nudging it from below,
so as it sits the odds are we pull back.
US Friday session just opened, lets see.

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Note

DUMP as we figured in last update

US sold, crashed thu first sister fib, now testing the Semi-Major (3.236)

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Note

(( ( PING ) ))

3.236 again, the "semi-major" fib ratio of the entire wave from the top

Any my rule on Pings:
"Not all Pings start a Reversal, but Most reversals Start with a Ping"

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Note

Sisters running relay

and the big mean one is at 63.3k

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Note

(( ( < PING > ) ))

A ping (exact ricochet on fib) from the top side this time.

"Not all Pings starts a Reversal, but Most reversals Start with a Ping".

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Note

Thus my enthusiasm for Pings

(in follow up to last update)
That Ping announced the launch.

and so the sisters ran relay

Might be done for now though

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Note

Here we are again, 63.3k

The "Mason-Dixon" line indeed!
Lets see if bulls can hold it again,
but I think we are going more South.

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

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