BTCUSD bounce targets: Bitcoin retrace to 4500 or even 4700?

Pretty good bounce thus far.

It looks like we are in the process of a 12345 impulse that might be a wave C of ABC correction.
The last strong move was a perfect wave 3 structure, including a 4.236 extension to complete the wave.
So I am expecting a wave 4 retrace then a final push up into resistance, and to complete wave C.

Lets see how this plays out.

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:

As it was being approached, I fined tuned the target a based on the downward momentum:

Getting closer, I started to see a bigger picture coming together:

After the bounce, I am still calculating the odds of one more leg down, based on these levels

And so the current plot fits the higher wave 4 from above

تعليق:

ALERT: Just found a serious hurdle at 4425, see this Idea