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BTTUSD forming AB=CD to 6500 ? BitTorrent support Zones to watch

מאת ‎EuroMotif‎
Mod
מעודכן
BitTorrent got off to an explosive start on Binance.
The wave up had a very well defined Fib Series (blue).
The 9.618 is a very common end to explosive waves.

The first retrace (A) followed the same Fib perfectly.
But the bounce (B) was not so locked into blue Fib.
Last leg (C) might be developing a new Fib (red).

Thus I have plotted some of the confluence zones.
I will be watching each zone for possible bounce.
I am expecting an AB=CD completion around 6500.

הערה
Approaching first possible support תמונת-בזק

Zoomed in we see the 4.618 was pierced, and now maybe resistance תמונת-בזק also note the confirmed relevance of the 5.236 above.

This first support zone , 83xx, may be good for a scalp but I would not expect uptrend to start here. But let us observe the upcoming reaction, and try to collect more info about the velocity of this move.

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הערה
Fib of current leg תמונת-בזק the 5.236 can end waves. But just above, we see that it took the 4.618 go create significant bounce, I expect the 5.618 to more important than the 5.236.

Zoomed out a bit more to show the relevance of my Green zone תמונת-בזק This last red stripe fib had not established when I first posted the Idea. But now it has confirmed the relevance to the green zone, and added one more reason for price to go there.

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הערה
Approaching first possible support zone תמונת-בזק and already showing some levitation effect - a good sign.

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Might fire a small long if this blue 4.618 breaks before the red 5.236 breaks again תמונת-בזק
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Decision Time תמונת-בזק
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Decision was Down I guess תמונת-בזק Now are in the first support zone, bulls have just a wee bit more to give before they must hold ...

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הערה
Here we are Still at first possible support zone תמונת-בזק

Close-up of the reaction at top boundary תמונת-בזק

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הערה
Might be building velocity here of the support zone תמונת-בזק
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Nice, red 1.618 to red 1.382 תמונת-בזק picture perfect jump to next energy band. And confirmation that red fib is taking control. BUT also means more down imo

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if BTT gets past 9150 ish, that may invalidate my lower low thoughts תמונת-בזק
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approaching serious resistance תמונת-בזק break of that would be impressive

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ouch, BTT sure noticed that resistance תמונת-בזק but not down for the count imo

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still looking pretty good תמונת-בזק but bulls need to break and hold the blue 4.618 without testing the red 1.382
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Nice תמונת-בזק will have to redo fib here soon for bigger scale but looking good

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starting to close my BTT longs here, תמונת-בזק that blue 9.618 and red 1.618 at 9500 will cause a pullback (or likely) so emptying my bag looking to buy back lower

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הערה
And Beat Goes on. תמונת-בזק If bulls hold Band 7 and get past band 8, then next wave up I expect retrace to band 6 at least, perhaps band 4

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הערה
if BTT is going to pull off this ABC, תמונת-בזק then we should see a strong leg down here soon for (3) of final 12345

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הערה
Updated on 15min chart: ping of 2.236 first then 2.618 would have been more bull, rather that in this order תמונת-בזק BUT the original Impulse zone being defended well means significant buying power still remains. But need to get past the 2.618 and NOT test the Impulse zone again.

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הערה
PERFECT defense of the 1.236 תמונת-בזק looks like another wave up inbound.

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Elliott WaveFibonacciSupport and Resistance
EuroMotif
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