azizLIGHT

azizLIGHT

To confirm a reversal at 29k, we need a higher low. If we bounce upwards at the 50% or the 61.8% fib retrace, it'll make a higher low and give more evidence that the bottom is in. The price levels to look at are 35.9k and 34.4k for long entry, with a stop at 34k, targeting 45.3k

azizLIGHT Updated 

This is a great spot for a long entry at ~42k Evidence: 1) ABC Zigzag from the ATH has completed its C (100% the length of the A) 2) 41k and 43k prior price swing points are providing support, marked in pink circles 3) Intense volume levels at this price level indicate bulls are waking up to defend; compare to the downtrend volume since ATH 4) 0.382 fib level...

azizLIGHT Updated 

Bitcoin could drop as low as 41-43k in a move that duplicates the length of the downswing from ATH. Pitchfork provides a confluence as well as other price pivot points. Evidence: 1) If the downswing from ATH to 47k is duplicated 100%, then we go from 59k to 42k 2) 43k and 41k are major swing points from previous price action on Jan 8, 2021, and Feb 28, 2021 3)...

azizLIGHT

BTC bounces off the bottom of the channel that is manifesting since January 2021. Pitchfork gives a target that indicates overlapping with the ATH and provides confluence in that region

azizLIGHT

Can we recover upwards past the .618 fib of the ATH 64.8k to 47.1k? There's some important pivot points there at 57.3k being the most relevant. If there's enough strength there to break upwards, it will give confidence to more bullish momentum. It's possible we attempt testing it but drop back down to .50 fib at 55.2k seeing as there is some support with vegas...