BTC (Y20.P1.E16).Bounce.Cradle Zone

Hi All,

> We have seen a good response so far from the key resistance level (now support) which coincided with the 20 EMA on the Daily and in some peoples charts, the upper trend-line of the macro channel.
> As per chart, we were in an uptrend (show by the 10,20 EMA ribbon) and the pullback to the cradle zone is per classic bounce for the trend to continue.
> This doesn't mean we go straight up from here as there is still a possibility that we can be doing an abc move downwards, if we completed a 12345 Elliot move on the smaller scale timeframe.

Note: I found that we had completed an AB=CD when we hit the 9100 range. Although the time frame did not match, the length did.

My next target is initially 9500, however the main target is 9960 - 10400. Beyond that, 10650 to 11050.

Please don't forget to give me a tick\like, as I would appreciate it.

Regards,
S.Sari /CryptoProspa
(for my reference > ETH1 chart)

Comentário:

On the short time frame, 4 HRLY, we have a downtrend, lower highs and lower lows. Hence patience is required for a good short entry, nothing of as yet.
On the Daily, we are still in an uptrend and we had a large candle, but as of yet, we need more data for a good entry, if you sold or stopped out from the 9k range.
Here i'm just waiting.

Comentário:

If this 0.382 fib level doesn't hold, then the 0.618 (7800) is my next target. If this is the case, we will have a long drawn out bottom. I still feel the bottom is in.

Comentário:

correction, 0.5 fib level not holding.Note, I had around 8000 to 8100 for the bulls to defend, so yesterday's rally could have been premature. If I was you, I'll just sit and wait until things settle.