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

16 Feb 2019

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.

17 Feb 2019

Nota

Approaching first possible support

Zoomed in we see the 4.618 was pierced, and now maybe resistance 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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17 Feb 2019

Nota

Fib of current leg 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 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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17 Feb 2019

Nota

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

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17 Feb 2019

Nota

Might fire a small long if this blue 4.618 breaks before the red 5.236 breaks again

17 Feb 2019

Nota

Decision Time

17 Feb 2019

Nota

Decision was Down I guess Now are in the first support zone, bulls have just a wee bit more to give before they must hold ...

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17 Feb 2019

Nota

Here we are Still at first possible support zone

Close-up of the reaction at top boundary

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17 Feb 2019

Nota

Might be building velocity here of the support zone

17 Feb 2019

Nota

Nice, red 1.618 to red 1.382 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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17 Feb 2019

Nota

if BTT gets past 9150 ish, that may invalidate my lower low thoughts

17 Feb 2019

Nota

approaching serious resistance break of that would be impressive

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17 Feb 2019

Nota

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

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18 Feb 2019

Nota

still looking pretty good but bulls need to break and hold the blue 4.618 without testing the red 1.382

18 Feb 2019

Nota

Nice will have to redo fib here soon for bigger scale but looking good

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18 Feb 2019

Nota

starting to close my BTT longs here, 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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18 Feb 2019

Nota

And Beat Goes on. 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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19 Feb 2019

Nota

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

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21 Feb 2019

Nota

Updated on 15min chart: ping of 2.236 first then 2.618 would have been more bull, rather that in this order 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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21 Feb 2019

Nota

PERFECT defense of the 1.236 looks like another wave up inbound.

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