BTC headed to 59.3k for "Bullish Retrace"? or 57.7k not so bull

14 de mai. de 2024

Part of my ongoing analysis, see links below.

We may have bottomed at 57k with a strong bounce.
But we are now retracing and hopefully almost done.
EW theory shows a 5-wave bounce with 3 wave retrace.

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Previous plots that lead us here (click the links):
- 73k Top Call no one expected
- Retrace Roadmap of Support zones
- 52.8k imagined but not believed
- Impulse Redux confirms the targets
- Fine tuned plot calls 56,8k bottom

15 de mai. de 2024

Nota

Making progress towards our target:

(shaded area is since this idea was posted)

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Zoom in (m5)

Currently trapped between the proverbial "Rock and a Hard Place".

The red fib at 61,770 (red arrow) is from the wave down from the top:


And the green arrow is for a Genesis fib at 61,256;


The Genesis fib blue) should be much stronger,
but it has been pierced too many times now,
so the TopDown fib (red) can actually compete.

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SUMMARY:
- Bulls are clinging to a strong but tired support.
- Minor ratio of the TopDown fib can fight support.
- Next break of Genesis fib at 61,256 might do it.

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