BTC at first possible Target for Correction: ABC end points map

Follow up to my previous publications for Bitcoin moves.
We are currently at the first possible end point for wave C.
But that last leg had a lot of velocity, so likely to go lower yet.

Last three Analyses:
Mar 13: 61.25k Top Target
Mar 15: 52.8k Retrace Call
Mar 16: 53.3k Bounce call
Mar 17: 59.8k Warning

I will post updates as comments below, as price action procedes.

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Comentarios:

52,838 and 06 cents Coinbase.

Is a MAJOR level, a Golden Ratio of the Genesis Fib

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Zoom IN all the way (15 sec) for a closer look at that level

Clearly important, and clearly noticed by the entire world now.
And that is an example of how fibs get MORE accurate with time.
All humans/bots/indi's have noticed these reactions, even if unaware of fibs at all.

Lets see where this goes, I imagine some "Orbits" around this fib before next move.


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Here we are again: 82,838

Bulls MUST overcome this level to avert a much deeper dive.

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Battle for 52838 continues

Wow, after all this travel and height, price turns on a PENNY!

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I catch some flak for having too many lines "Throw enough on there and some will react for sure", BUT:

the lines are there because they are nodes and EVERY one of them reacts.

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2nd Target Hit

Hit the zone perfectly and trying to bounce

Nothing for bulls to rejoice about yet, but there is a chance this is the bottom.

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2nd Support Holding for now, albeit tenuous.

Current snap of the chart as Posted above

First support looks to have slowed the fall.
Second support with a slight bounce but NOT impressive.
Starting to think "they" want to poke below 50 round to take out stops.

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Zoom IN (15 min) again as posted in main chart but closer look

The original target for C really tried to hold.
But that Genesis fib at 52838 reinforced by the local 2.618 just too strong of a combo.
Second target was Ping'd (exact ricochet) and the intermediary support (light green) is now trying to hold.

We might as well flip the previous Green Supports into new Red Resistances:

and move the (C) as if last dip hit it.

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Zoom WAY IN (1 min) too see the pa around our zones

of note: the blue 2.236 is a serious contender (see full fib below)
Just piercing that blue 2.236 was a good sign after the rejection upon last approach.

That blue 2.236 is from this fib mapping the wave up from 43k

Hanging on to the bottom of that one rather precariously.
It is not hard to guess where we might drop to, if we loose grip on the 2.236.
So for now, we should ASSUME the Gold 1.618 will be hit, at 49,29x.
And THAT could be the sub 50k stop hunt that might be brewing.

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SUMMARY:
- Fib map working perfectly, stick with it.
- Supports have slowed the fall but may not have ended it.
- Sub 50k stop hunt to 49.3 seems inevitable at this time.
- Of course, 'inevitable' is NOT a concept to base trades on,
- So we should be "prepared and alert" for a wick to 49.2k.

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Comentarios:

Major Resistance Stabbed!

We have a breach of the Major resistance around 52.8k

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Zoom IN (1 min)

and we see a beautiful breach of thick "Genesis" fib,
followed by a retest of the local 2.618 above it.
This is a VERY GOOD sign.

ofc, it could collapse at any moment, BUT we have a good reason to think ABC is DONE.

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Comentarios:

Overdue Update

Sorry for lack of updates, am currently travelling...

Lets start with a look at the original tf and chart posted

making good progress since bounce and break of 52.8k Major resistance.
BUT we might be starting first serious retrace of the bounce.
Current time is 1 hour before markets open for the week,
So will have higher volume shortly, so lets take a closer look.

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Zoom IN (15 min) with a fib added for the bounce

Top of bounce was at an expectable resistance of a double fib, red from original chart, blue minor fib from bounce fib.
So now we have two well defined supports to observe (above our Drop-Dead zone of 52.8-53.2)
First support at 54.6 was almost touched but not quite, a quick wick might Ping that zone soon.
Second support at 53.9-54.1 should be stronger than the 1st, but ideally bulls defend higher.

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SUMMARY:
- Bounce wave progressed nicely, up to a reasonable level and resistance.
- Coming into weekly open, we should be prepared for some volatility.
- Bulls need to defend against dip, ideally in the 54's and NOT 53k's.

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Comentarios:

Looking more and more like correction DONE!

Starting with a view of the original chart and progress since:

Bounce continues, and another resistance flipped.

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Zoom IN (15 min) for a look at the Bounce thus far:

now THAT is the type of "Higher Lows" we want to see.
Every pullback and bounce from EXACTLY a fib (Ping) which is a great sign of continuation.

We just bounced on the thick blue 3.618 at 57049 which is a major node on the wave up from 43k:

So that level is now the Bulls' MUST HOLD level.

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Looking Above:

We have several solo fibs for resistance, before the BIG one.
59,446 to 792 is the Big resistance (ofc into 60k round figure).
We can expect a pullback from say 59.5k, so be prepared.

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Lastly, a look at the wave structure of the bounce:

looks like a clean 12345 in progress, now starting wave 5.
Wave 5 so far looks have five sub waves of its own, as it should be.
BUT wave 4 COULD push down one more time but ideally it holds 57k.

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SUMMARY:
- Confidence that the correction is "done" is very high now.
- Target for first wave up is 59.5-59.8, then look for pullback.
- This entire bounce "should" be a wave 1, look for wave 2 down soon.
- The wave 2 down will be quite revealing, as to strength of uptrend.

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