BTCUSD short term Support Resistance zones: Bitcoin UPDATE
This is an update to my bigger picture plot looking for sub 3k. 
But on the way there, we have several fib support zones.
Each of the green zones should offer a pause or a bounce.
.
.
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 of a 4 wave impulse that started with the 7400 drop:
As it bounced, 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 now zooming back out to the original large 5 wave impulse, targets are in sight again:
The current chart is to plot the support zones on the way down.
But on the way there, we have several fib support zones.
Each of the green zones should offer a pause or a bounce.
.
.
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 of a 4 wave impulse that started with the 7400 drop:
As it bounced, 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 now zooming back out to the original large 5 wave impulse, targets are in sight again:
The current chart is to plot the support zones on the way down.
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.