Bitcon with a massive spike that shocked most traders including me.
Looks like a short-squeeze upon break of 4200, then fomo from there.
Also looks like a completed 5 wave Impulse, starting the ABC retrace.
Topped as predicted at the 4.236 of higher timeframe fib linked below.
Now we watch the retrace for clues: random spike? or start of uptrend?
This plot assumes a break of 5k round figure, which may not happen.
4825/35 bounce would be an amazingly bullish retrace.
4530/60 bounce would be exactly as can be expected.
4350/75 will be Bulls' Last Stand before risk of much doom.
The "4.236" mentioned above is from this plot:
Looks like a short-squeeze upon break of 4200, then fomo from there.
Also looks like a completed 5 wave Impulse, starting the ABC retrace.
Topped as predicted at the 4.236 of higher timeframe fib linked below.
Now we watch the retrace for clues: random spike? or start of uptrend?
This plot assumes a break of 5k round figure, which may not happen.
4825/35 bounce would be an amazingly bullish retrace.
4530/60 bounce would be exactly as can be expected.
4350/75 will be Bulls' Last Stand before risk of much doom.
The "4.236" mentioned above is from this plot:
Note
Finally looks like some progress on the retrace, with a confirmation of previous support which was later pierced Under the microscope (1min) this fib implies a wave down was completed, and price has returned to Impulse
.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
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.