5882 and 82 cents: BTC.USD most important number of 2019 ?

23 thg 11, 2019

Bitcoin as you know has been crashing through supports.
Now there is only one Strong Support left before doom.
Current support will hopefully slow the decent at least.

Plotted are three Bull impulses and three Bear impulses.
Each impulse started a wave from which Ripples emanated.
Interaction between the Ripples maps the zones of interest.

5882 is critical for many reasons technically and psychologically.
"6k" has been burned into the psyche of this industry forever.
$200 below there will be many Stop Losses (liquidity for whales).

It is unlikely that the current support will stop this much momentum.
There are many minor supports on the way to 5882 but no strong ones.
If 5882 does not hold, each line below will at best slow it down a bit.

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Part of my ongoing Bitcoin analysis, been hitting every important turn (click):
8.7k Retrace Target
8.7k Top Call
21k possible target (still possible)
9k bounce call (perfect bounce)
13k warning (early but valid)
12.4k Break
10.9k retrace
12k Impulse
12k target call <=Perfect TP
14k > 10k retrace
14k target call <=Perfect TP
10k target call <=6 wks ago
8.4k > 5.4k retrace
9.0k > 7.5k retrace
7.5k bounce call <=Perfect Entry
10k path laid out
3.1k bottom call (caught EXACT bottom)

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

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23 thg 11, 2019

Ghi chú

Here is an explanation of the numerous horizontal lines

Close up of price action around the fib lines

My concept is that each "Move" or "Wave" starts with an "Impulse" which creates "Ripples" (like a pebble falling in water).
Each ripple will cause a reaction in price. Multiple Ripples close to each other make a zone that can be strong Support/Resistance.

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25 thg 11, 2019

Ghi chú

The crash continues.
Broken through the immediate support we should see a bounce from the 6480-6500 area with the couple of fibs in tight confluence there, but the final destination remains 5882.
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and 82 cents :)


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27 thg 11, 2019

Ghi chú

Per the last update above, we got a bounce at the 6500 area and are now trying to confirm the support zone at 6850

Zoomed in we see the exact reaction at the support zone that is a good sign, exact Pings like that often indicate a reversal.