I have been looking for one more leg down per my previous ideas.
Price is currently at an important zone, to determine just how deep the next dip might be.
I see two secanrios:
LEFT side: a WXY correction heading back up towards 4500.
RIGHT side: an correction already DONE, and preparing for next impulse down.
The next leg in either direction will give us more clues, and I will post a new Idea if something snaps into focus.
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 coming together:
As it bounced, I had hoped for a 4500-4700 peak:
But then 4425 came into focus as the big hurdle:
After it topped at 4425, a combined with EW waves pointed to a serious pullback:
So here we are now, to see if there will be a bounce before a lower low is printed:
Published at Mon, 03 Dec 2018 06:09:43 +0000
