Long

BTC retrace possibilities

By EuroMotif

Updated

Assuming correction is NOT over, here are two quick possibilities I am watching for.

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After fine tuning some fibs and such, we are at first possible bounce zone

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Holding so far, but not impressive.

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Bulls need to break 8350 with gusto to show other bulls that an impulse up is starting

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Bounce looking good, now we need to make a higher high:

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.
Nice!

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WAITING for 8400 retest

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breaking that 1.618 like that is impressive as hell
s3.amazonaws.com/tradingview/snapshots/t/tLUTcJ63.png

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based on this Fib battle, moving my retrace zone higher, 8460

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Looking good still, waiting to see what happens here:

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all in the plan
s3.amazonaws.com/tradingview/snapshots/6/62YPAKQB.png

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We really need a bit o retrace here

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Caution here:
s3.amazonaws.com/tradingview/snapshots/h/h5xOeG99.png

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hit a 2.618, gotta pull back a bit now
s3.amazonaws.com/tradingview/snapshots/t/T9hACu6c.png

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Need to cross 8700 to proceed to next resistance zone

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If this micro move plays out like this and bounces hard off 8500-ish, we are BULL af!! s3.amazonaws.com/tradingview/snapshots/m/mTKKuVQR.png

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So the ABC retrace is deeper than expected, but still normal and still bull. Now we need to bounce at or above 8350

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Critical moment here:

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8350 battle, Round 136 or something.
Both sides know the importance here

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Bulls look to have held 8350 for now.
But i wish the bounce was more aggressive.
No volume right now, but a good sign instead of a bad sign

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Could this be the impulse up to 9k?

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If break this 618, then previously posted 12345 above is still in play

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This is good w4-like behavior: slow consolidation, perhaps a triangle. Watching 8540-8560
s3.amazonaws.com/tradingview/snapshots/9/9SGSScyC.png
If it bounces there and then breaks 8650, then I will be more confident that bottom is in.

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Is this the bounce?

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.
Fine tuned targets

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Here we go?

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BTC behaving as I last posted. A good sign in that it is rational again!

I am now trying to estimate the pullback

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8850 next?

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88xx still on the table for this run. I had the wrong 1-2 wave imo
s3.amazonaws.com/tradingview/snapshots/p/P1Ynxpwe.png

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That very last chart did NOT work out.
Turns out the last push up was actually the Wave 5 of bounce.

So now I am watching for this:

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Ouch, came screaming down into my zone.
Knife falling fast, wait for it to hit and stop quivrring, but watching.

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Oh well, no ground found yet

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Back to the original plan: was a wave 4, and wave 5 has started:

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Currently watching 8500 range for sings of correction being done

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
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