EuroMotif

BTCUSD retrace watch: Bitcoin pullback zones to watch

EuroMotif Mod Uppdaterad   
COINBASE:BTCUSD   Bitcoin
BTC bulls painted a strong impluse wave up, including a strong wave 5.

Now it needs to retrace, probably in a typical ABC fashion.
I see a few important prices/zones worth watching closely.
If the retrace bounces at first zone, then we are correcting only the wave V.
If the retrace goes to the -.618, would be a prefectly acceptable ABC.
If the retrace goes below wave IV, then the uptrend is in danger.

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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:

Zooming back out to the original large 5 wave impulse, targets were in sight again:

Then we had a strong bounce with perfect 12345, which I expected to top at 3800-3900
The current chart is to plot the retrace and evaluate strength
Kommentera:
Nice initial bounce from the .618 extension. If that holds and we pass the 0.0 of that fib, then we might be ready for more some up
Kommentera:
The bounce off the -.618 is still holding. But I am not seeing any impulsive type of movement going back up yet. We might still be in the corrective C wave of ABC, watching and measuring ...
Kommentera:
Bulls are taking the stairs up it seems waiting for signs of another impulse up to start but not happening yet.

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Kommentera:
Finally! looks to be starting an impulse, will be studying it

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