BTCUSD short term UPDATE: Bitcoin to test 4044 most likely
Updated
Quick plot of the correction to the bounce.
Looks like an ABCDE is forming, rather than a simple ABC.
4044 was a critical line in sand all along, a retest is almost 'needed'
This is another short term update to my bigger picture tracking of the bounce described below.
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:
As it was being approached, I fined tuned the target a based on the downward momentum:
Getting closer, I started to see a bigger picture coming together:
As it bounced, I had hoped for a 4500-4700 peak:
But then 4425 came into focus as the big hurdle:
So here we are now, trying to gauge the retrace
Looks like an ABCDE is forming, rather than a simple ABC.
4044 was a critical line in sand all along, a retest is almost 'needed'
This is another short term update to my bigger picture tracking of the bounce described below.
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:
As it was being approached, I fined tuned the target a based on the downward momentum:
Getting closer, I started to see a bigger picture coming together:
As it bounced, I had hoped for a 4500-4700 peak:
But then 4425 came into focus as the big hurdle:
So here we are now, trying to gauge the retrace
Comment
And here we are, retest of 4044. Will it hold? Comment
3950-70 looks like automatic now Comment
well, at least each zone is being noticed and a reaction is happening, .
Comment
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