Quick post to map nearby support zones as we retrace the bounce. Time of post is just before weekly open for traditional markets. Crypto has been sliding downward all weekend but due for a bounce.
Currently in a "Decision Zone" with contradicting Fib signals. Blue 4.618 wants to declare end of weekend dump wave. Red 4.236 denying permission and pointing to red 4.618
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Previous Plots of this bounce:
Earlier Plots catching every turn: <= mapped within $10 <= Warning in Time <= Mapped within $5 <= the 3 Fibs of Life <=Perfect TP <=EXACT 2018 bottom
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Close up of the current Decision Zone Blue 4.618 wants to declare end of a wave. Red 4.236 wants to deny and direct to red 4.618. ==============================================================================================
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Blue 4.618 for the Win!
Looks like the blue fib called end of drop wave perfectly now the blue 2.618 is likely target, and possible top for bounce wave. Caution required as we approach it. ===================================================================================================
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Followup to last Pic above ^^
Blue 2.618 target hit and pierced pulling back but that pierce opens door to the 2.236 above at $6392.
But currently going into London Open and they often sell first off, especially after Asia pumps. Maybe the London boys will surprise today? ===================================================================================================
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( ( Ping ) )
And possible end of this particular bounce wave We may need to reload a little lower before getting past this resistance around 6600 ========================================================================================
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Ping will probably go lower, but good to see confirmation of the fib. ========================================================================================
@Ralferator, because for corona I have not money for my life . Please
Radbikerboy
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@EuroMotif You think we are going back above 7000 (third time lucky)? Is BTC tied to US Stock market movements (Stocks down, BTC down; Stocks up, BTC up)?
EuroMotif
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@Radbikerboy, Hi. I still think 7.4k is in the cards.
BTC is indeed tightly correlated with the stock markets with now (treated as a "risk" asset).
so I guess it will depend on what the stock market does, but even that I think has found a good bottom for now, and should bounce a little higher.
Then we will have to consider the odds of another leg down in btc as well as stocks....