Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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This retrace took long enough to start, I believe we are retracing the move from 6600 to 9700 so the correction should be relatively significant i'm thinking 8k but it doesn't HAVE to go that low 8500 would make sense too
@alexemailme7, i see you did one fib from the last peak to the recent low but where did u measure the other fib from ?
alexemailme7
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@alexemailme7, i guess you started it at 8k. curious why? thanks !
NotGemini
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@alexemailme7, one is a retracement from the top to the bottom, the other is an extension from the top to the bottom, and then its anchored on my projection for B
alexemailme7
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@NotGemini, oh cool ill have to try that out. seems to be playing out well
NotGemini
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@alexemailme7, no problem, we'll have to see what happens here in case i missed anything
alexemailme7
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@NotGemini, the bears are seeming pretty weak im feeling like 8500 might be it. could be wrong tho
Agreed here, note that I would look for 0.618 retrace as for B
NotGemini
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@sirzaid, I tend to see the .382 and top of wave 4 as the most common retracements of B but the .618 is more than likely I could definitely see this going there