61,256 and 44 cents is the Cliff's Edge, long way down to 52.8k

Updated

Bull trend at a Cliff's Edge here.
Next support is a good ways down.
Current support probably tapped.

.

52.8k retest was always expected:

BTC alert: B ware wave B, possible wave C drop to 52.8k

.

Check the "Related Ideas" below for the step by step mapping of the top.

Note

Moment of Truth

Literally, 1 minute candle retesting our critical level.

==============================================================================================

.

Note

( (( PING )) )

"Ping" = Exact and violent reflection that you can almost HEAR

Pings confirm and energize not only that fib,
but ALL of the sister in the fib series as well,
like a spider's web that transmits vibrations.

==============================================================================================

.

Note

( ( ( PING ) ))

But this time the OTHER way.

Very bad sign for bulls, to crash thru and then Ping from underside.
And this is on a Friday afternoon, so the weekend could be bloody.
Bulls may have run off the cliff this time, unless recovered quickly.

==============================================================================================

.

Note

Moment of truth on the hourly

Zoom in (m1)

Ideally bulls will hold "orbit" around this fib over the weekend.

==============================================================================================

.

Note

PING

Here we are again after several trips above and below.
This might be bull's last chance to resume an uptrend.
If bulls lose this fib again, next strong support is at 52.8k

ie: Back at the CLIFF's EDGE.

==============================================================================================

.

EuroMotif

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

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.