BTCUSD bear versus More bear: Bitcoin next leg down now or soon?
Updated
I have been looking for one more leg down per my previous ideas.
Price is currently at an important zone, to determine just how deep the next dip might be.
I see two secanrios:
LEFT side: a WXY correction heading back up towards 4500.
RIGHT side: an ABC correction already DONE, and preparing for next impulse down.
The next leg in either direction will give us more clues, and I will post a new Idea if something snaps into focus.
Background:
This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.
First I saw 3618 on CoinBase as important which had been on my charts for over 6 months:
Getting closer, I started to see a bigger picture coming together:
As it bounced, I had hoped for a 4500-4700 peak:
But then 4425 came into focus as the big hurdle:
After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:
So here we are now, to see if there will be a bounce before a lower low is printed:
Price is currently at an important zone, to determine just how deep the next dip might be.
I see two secanrios:
LEFT side: a WXY correction heading back up towards 4500.
RIGHT side: an ABC correction already DONE, and preparing for next impulse down.
The next leg in either direction will give us more clues, and I will post a new Idea if something snaps into focus.
Background:
This is a continuation of my calculations to find the 'bottom' and consider whether it will go any lower or not.
First I saw 3618 on CoinBase as important which had been on my charts for over 6 months:
Getting closer, I started to see a bigger picture coming together:
As it bounced, I had hoped for a 4500-4700 peak:
But then 4425 came into focus as the big hurdle:
After it topped at 4425, a rising wedge combined with EW waves pointed to a serious pullback:
So here we are now, to see if there will be a bounce before a lower low is printed:
Note
WXY per LEFT side plan still seems more likely Per this blue 12345, maybe it was a truncated 5 and we move up now.
Per this Red 12345 (more likely imo) we still have a wave 5 to paint
Let see what happens today.
Note
Do or Die moment for the WXY plan Zooming in, green wave A did exactly what was expected. Now in wave B that needs to end soon with a strong bounce to start wave C
Note
On a microscopic scale, two support zones that might start the bounce .
.
Note
Here we are, last chance for bulls to paint a leg up Zoomed in, the low of candle was 3660, the fib said 3661.85
Note
Another PERFECT Ping on the 7409 line .
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