BCH.usd eyes on $725 : Resistance to give dip for Halving Entry?

6 thg 4

BCH halving run seems to be at hand.
Price is about to hit a key resistance.
Possible end of local wave, to dip soon.

$ 721.50 - 729.41 is the major resistance.
$ 575.73 - 583.29 is the first strong support.
$ 634.43 - 636.10 minor support via dual fibs.

We may blast thru, then look for retest entry.

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10 thg 4

Ghi chú

Dip under way, first support just hit


Zoom in (m15) and a fib in red for the dip

Our existing blue 3.618 fib has been reinforced by new red 5.854.
So this support should be pretty strong, we better bounce a bit here.

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Zoom in more (m1) and add another red fib set for last leg down

We have another reason to bounce here.

This is only first possible support,
but we MUST see a little bounce here,
or we can not count on next support.

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20 thg 4

Ghi chú

Updated h4 view:

Very possible we have a bottom.

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11 thg 5

Ghi chú

Bottom was NOT in, but we may have a "higher low"


Zoom in (m3)

That is a "Ping" from "give me a Ping Vasilly, One Ping Only"
Such an exact ricochet will excite and alert the sister fibs,
like a bug hitting a spider web, the vibration radiates.

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SUMMARY:
- There is a chance we have bottomed.
- $422.05 is the key support that must hold.

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19 thg 5

Ghi chú

Thus my enthusiasm for Pings

In folllowup to last snapshot above,
that Ping marked the bottom it seems.

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Zoom back OUT (h4) to our orignial scale

We are now up against TWO 2.618's,
so this will be a very strong resistance,
as it has already proven on last push.

So we will paint that zone red

and look for a break, ideally Break-n-Retest.

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SUMMARY:
- Odds of bottom being in have increased
- $480.75 to 497.85 will determine if bottomed

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