This is my personal idea of the future bitcoin chart and my first idea that i publish here on Tradingview.
So please don't be too strict with me ;)
I am really bearish at the moment beacause Bitcoin is an asset where everyone is bullish and crying for new all time highs after the halvening.
The general meaning: Buy Bitcoin... you can't lose... it only can go up!
Maybe this halvening is one big Bull-Trap to bring us down to a retest of the last Blow-Off Top.
It also seems that this downrend is very similar to the last bear market.
1. We dumped and find support at 0.236 FIB
2. We dumped further and found support again at 0.382 FIB
3. We pumped and reclaimed the 0.236 FIB. Only to make a lower low and dump again
And now i think that we will create the same downtrent like the last time.
4. We dump again to the 0.382 FIB and find a little bit of support
5. We can't create an uptrend and dump to 0.5 FIB. This is where the downtrend gets parabolic
6. Hopefully the last Blow-Off Top and the 0.618 FIB are enough support to create a bottom pattern before the real uptrend can start and we can enter the Spacee-Ship to the moon.
I pray that the next uptrend is a slow and healthy one with R/S flips.
It seems that bitcoin likes to reverse every parabola gap again and test the breakout as support.
The only difference now is that we need more time to bring Btcoin down.
So please don't be too strict with me ;)
I am really bearish at the moment beacause Bitcoin is an asset where everyone is bullish and crying for new all time highs after the halvening.
The general meaning: Buy Bitcoin... you can't lose... it only can go up!
Maybe this halvening is one big Bull-Trap to bring us down to a retest of the last Blow-Off Top.
It also seems that this downrend is very similar to the last bear market.
1. We dumped and find support at 0.236 FIB
2. We dumped further and found support again at 0.382 FIB
3. We pumped and reclaimed the 0.236 FIB. Only to make a lower low and dump again
And now i think that we will create the same downtrent like the last time.
4. We dump again to the 0.382 FIB and find a little bit of support
5. We can't create an uptrend and dump to 0.5 FIB. This is where the downtrend gets parabolic
6. Hopefully the last Blow-Off Top and the 0.618 FIB are enough support to create a bottom pattern before the real uptrend can start and we can enter the Spacee-Ship to the moon.
I pray that the next uptrend is a slow and healthy one with R/S flips.
It seems that bitcoin likes to reverse every parabola gap again and test the breakout as support.
The only difference now is that we need more time to bring Btcoin down.