Most relevant Fib series for Bitcoin in this time frame.
The Impulse from $7870 set another cascade in motion.
Thus far Bears have dominated the line by line rejections.
Bulls have 3 lines left before severe collapse.
It will take at least 2 CLEAR Pings to reverse this.
Bulls need to paint two Pings that bears can HEAR.
Sentiment wise the US market leads but is undecided.
Gold, stocks, and bonds are in FUD mode themselves.
Risk-off mood needs to change or we see lower lows.
And of those lower lows, I am eyeing $ 5,882 and 82 cents. see this Idea:
The Impulse from $7870 set another cascade in motion.
Thus far Bears have dominated the line by line rejections.
Bulls have 3 lines left before severe collapse.
It will take at least 2 CLEAR Pings to reverse this.
Bulls need to paint two Pings that bears can HEAR.
Sentiment wise the US market leads but is undecided.
Gold, stocks, and bonds are in FUD mode themselves.
Risk-off mood needs to change or we see lower lows.
And of those lower lows, I am eyeing $ 5,882 and 82 cents. see this Idea:
Note
Ping .... Kinda ... Note
Not good, just sitting on the 5.236 which was already pierced Zooming IN and adding Red Fib of last leg down
But likely to drop to next support, now "reinforced" but red 5.618 in close proximity.
.
Note
Nice PING .
Note
Yup, a rather Clean Ping .
Note
Bounce looks good, but MUST hold 7132.xx But if tested, it would be Bull's chance to log the SECOND clean Ping to confirm first one was not just an illusion.
.
Note
nice bounce! 7219/25 next serious barrier .
Note
Next Barrier $ 7271-7281 .
Note
Not bad for an initial push, need to hold 7178-86 .
Note
well, that turned out to be the Mother of All Pings lol
.
Note
That might have been the SECOND Ping I was talking about So it would not surprise me to see it come down one more fib before the real ping.
.
Note
Getting back in Sync .
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.