BTC heads UP now: 48k could start next leg down, 40k or 37.5k ??
Updated
Just a quick post to alert of a KEY level here.
All plotted levels are from the "Genesis Fib".
Every line has been a battle front both ways.
52.8k was an expectable top as posted here. (click)
The pullback was exactly to the fib at 42.8k.
Now we are at another key fib and decision.
I do NOT think this is the PROBABLE scenario.
But it is a distinct POSSIBILITY to prepare for.
Break of 50k would INVALIDATE this scenario.
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All plotted levels are from the "Genesis Fib".
Every line has been a battle front both ways.
52.8k was an expectable top as posted here. (click)
The pullback was exactly to the fib at 42.8k.
Now we are at another key fib and decision.
I do NOT think this is the PROBABLE scenario.
But it is a distinct POSSIBILITY to prepare for.
Break of 50k would INVALIDATE this scenario.
.
Note
Pullback under way?We may have the beginnings of a leg down
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Zoom IN (3 min) and switch to Heiken Ashi candles
Will this be "the one"? No way to know, but the fibs tell us:
IF there is to be a leg down, then THIS would be a good start.
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Note
WowRight back with another LOUD PING
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And again...24 hours since last snapshot, another PING
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Here we are again.48,090
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Note
Dip for real this time.Just got a significant leg down
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Zoom IN (1 min) on that support fib
Ping as in a precise and violent ricochet off the fib.
Lets see if it holds, but a clean and loud Ping is a good start.
"Not all pings start a Reversal, but Most reversals start with a Ping".
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Note
There went 45k.Original target of 40.4k now in sight
But the velocity of this drop indicates a double bottom is unlikely ....
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Primary Target HIT @@Wow, a market wide dump (including stocks) just in time to bring BTC to our target
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Zoom IN (1 min) around 40.4k
The pierce is not a great sign, would have preferred a clean "Ping".
IF we get past the fib above at 42,789, THEN we might have a "bottom".
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Here we are: ============================================================================================
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Note
40.4k and 42.8k aint just a couple of lines ============================================================================================
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Note
Here we are again, 40.4kSo we got a decent bounce on last Ping on this fib, and now we are back again
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Zoom IN to 1min:
This fib already bounced it strong once, and was recently pierced.
So odds are we continue to next target of 37,489 as originally plotted.
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