BTCUSD ever gonna bounce? Bitcoin wave end in sight but ugly

Updated

Throwing some Fibs and EW around, and this kinda snapped in place.

Perhaps the drop from 7400 to 6200 was a wave (1).
So maybe we are in a wave (3) related to that impulse.
Question is whether wave (4) retrace much at all.

Drag up on the price axis to magnify and better see the overlapping prices on the support zones.

As usual, lets see how this plays out.

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Looks like wave (4) might be under way. Regardless a decent bounce at the fib levels expected

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Close up of the zone plotted, seems quite accurate

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Bounce looking decent. my next zone of interest in green

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Still on track

looks like we might even attack 4k

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Pierced first resistance, watching the pullback

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Was that it for wave 4?

Close up

would not be surprised by a bull trap exactly 4044 or a wee bit higher. But it it breaks and is then held as support on pullback, I will re-evaluate

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Under a microscope, watching this correction

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Nice bump above, but now we are at the critical zone

is it a wave 3 going up? or ABC completing and prep for next leg down?

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looking more and more like a classic AB=CD, 0.618 to -0.382

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Moment of truth

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This is the critical zone in red.

not just for my trade, but for the forseeable future of BTC pricing. Breaking the first serious resistance is a step towards trend change

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Close up of the action on 1min chart

WOW, every single day I am awestruck by the precision of Fibs and their effect on the human brain. Why 4044 on Coinbase? I have no idea but the fibs told me it would be important...

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This two Fib Extensions are what whispered ''4044'' to me

2.618 of first impulse, 4.618 of second impulse, like Jupiter and Saturn in aligment

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One short term possibility

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Here we are again, that 4044 line

might break through this time?

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Bounce thus far looks like a classic ABC correction, rather than a 12345 impulse up.

The near perfect 0.618 to -0.382 leg makes for an AB=CD. Maybe we keep going up, but that pattern, and the resistance above makes me think it is probably to move down. But lets see....

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PING. just hit first possible support. Watching closely

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well, we all know what happened after that last pic above, bears broke below. But for an update:

Bulls seem to be defending the support zone, with a high low on the next day. But they need to get past the 4044 resistance and prove is a support, otherwise the sentiment will remain bearish..
.

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Perfect kiss of the 4044 line

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Another close up of the crucial resistance zone , on 1 min chart

EuroMotif

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