BTCUSD correction Done? or more Down? Bitcoin retrace watch
Updated
This is a followup to my ongoing analysis of Bitcoin moves.
After explosive growth, we are in the midst of a correction.
Correction MAY be done, but likely one more leg down yet.
Above are two possible correction pathways.
WxYxZ seems more likely than an ABC path.
Regardless of path, the Zones are dependable.
7666-7708 may well be the bottom for now.
7450-7445 is important from higher time frame.
7223-7281 could be the Uptrend killer if breaks.
Previous BTC analysis (in chronological order):
3.1k Bottom plot
3.4k Bull Confirm
3.8k mid-Trend Top
3.6k Retrace plot
4.1k Top plot
8.1k early call
10k coming (still quite viable)
After explosive growth, we are in the midst of a correction.
Correction MAY be done, but likely one more leg down yet.
Above are two possible correction pathways.
WxYxZ seems more likely than an ABC path.
Regardless of path, the Zones are dependable.
7666-7708 may well be the bottom for now.
7450-7445 is important from higher time frame.
7223-7281 could be the Uptrend killer if breaks.
Previous BTC analysis (in chronological order):
3.1k Bottom plot
3.4k Bull Confirm
3.8k mid-Trend Top
3.6k Retrace plot
4.1k Top plot
8.1k early call
10k coming (still quite viable)
Note
Here we, at first possible end point for wave C .
Note
Bounce looking great thus far .
Note
Nice retest of the fib at $7708 .
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