BTC to test 7350 for last dip? A tale of Two Fibs
Updated
Looking for a dip and then bounce from the 7350 range.
Found what look to be two separate impulses (strong move).
Each of those have set ripples as usual.
But this time each of those only extended to the 236 multiples, not the usual 618.
Does that mean ''less momentum'' in the wave than if 618x? Perhaps, that is what I am watching.
What is clear is that overlaps of the fib ratios between these two waves have proven to be strong turning points.
Lets see how this plays out.
Found what look to be two separate impulses (strong move).
Each of those have set ripples as usual.
But this time each of those only extended to the 236 multiples, not the usual 618.
Does that mean ''less momentum'' in the wave than if 618x? Perhaps, that is what I am watching.
What is clear is that overlaps of the fib ratios between these two waves have proven to be strong turning points.
Lets see how this plays out.
Note
In this chart I have added my existing ''Fib Zones'' in Green:Those green zones are from this posted chart:
Note
And here we are. Will it bounce?Note
Order cancelled
Broke below too far.Back to the original plan from a few days ago:
Note
Hmm, another 236 bounce?Note
Now looks to be rejecting off the 7350 zone originally of interest.I might consider a long entry if it breaks above and retest my zone and gets a good bounce.
Trade active
Limit orders were picked up while I was asleep, upon retest of 7400.Trailing stops now at BE, hoping to ride until 7850 before making any decisions.
Note
At the risk of complicating things, I have found another resonance Here I have placed that fib 'Hidden Impulse' over the two previous fibs (but those are super light for visibility)
Here I have made the ''1st Impulse'' fib (blue) more obvious, to observe how each had their own effect
Here I have brought back the ''2nd Imuplse'' (orange) on a lower tf
And now zoomed in, plus my previously calculated higher tf Fib zones (bright green)
So what could have caused the 'bounce' (if that is what it was)?
ie: I dont think that was a bottom. So I have adjusted my previous high tf fib (green) to account for new resonances
Thus I will be watching 7207.37 down to 7179.48. ikn, ikn, just call it 7200 and EVERYBODY will be watching it anyway, right?
But then what would I do until it gets there? lol.
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