BTCUSD retracing finally due to FUD: Bitcoin retrace watch 2
Updated
So there we have it, the retrace we all knew was coming, is underway.
The spark was Tether FUD again, amazingly well timed at the Tippy-Top.
Historically, FUD launched at tops comes in 3 rounds, or at least 2 events.
Thus we can imagine an ABC correction as prescribed by Elliott.
Perhaps as we near resistance, another bad-news event will hit?
Or maybe bag holders from 8400 will relief-sell with smaller loss.
6390-6480 may well hold after one more small leg down.
5840-5880 seems likely if there is another FUD bomb.
5284 needs to hold, or uptrend will be at risk.
Golden Fib at 4914 has better NOT be tested!
I still think we are headed to 10k after retrace.
it is just a question of how deep it will dip first.
My path to 10k was plotted several days ago, and my view not changed:
.
The spark was Tether FUD again, amazingly well timed at the Tippy-Top.
Historically, FUD launched at tops comes in 3 rounds, or at least 2 events.
Thus we can imagine an ABC correction as prescribed by Elliott.
Perhaps as we near resistance, another bad-news event will hit?
Or maybe bag holders from 8400 will relief-sell with smaller loss.
6390-6480 may well hold after one more small leg down.
5840-5880 seems likely if there is another FUD bomb.
5284 needs to hold, or uptrend will be at risk.
Golden Fib at 4914 has better NOT be tested!
I still think we are headed to 10k after retrace.
it is just a question of how deep it will dip first.
My path to 10k was plotted several days ago, and my view not changed:
.
Note
Ping .
Note
Ping.... Ping.. two this on the 1.764 .
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