BTC: This is looking more and more like the second 2012 rally!!!
So BTC is bursting through all resistances, and leaves many top posters surprised, who were all still drawing the 2015 fractals.
I posted a month ago a contrarian view, because BTC likes to do the opposite of what people think it will do.
For example, I did the same mistake to make the 2015 fractal comparison, therefore thinking that we'd see one final leg to 2000 USD.
It didn't come of course.
But as soon as we started bursting through all important resistances, I went full bull, and was anticipating that BTC would go quite higher than most though possible.
Here's the chart:
However, this is starting to look more and more not like the first rally 2012, but like the second one !!!
-The widening weekly bollinber bands: check
-The weekly candle structure: check
-Bursting through all resistances like a crazy bastard: check
If indeed now this resembles the second rally, BTC could see the peak at 10k.
Because the second 2012 rally went to the 50% ATH level, so 32/2 USD = 16 USD.
Therefore we could see ATH/2 = 10k USD as the peak.
In that case, we would retrace down to the 0.618 fib support at no lower than 5.3k. We would never see sub 5k prices ever again.
Even though we are overbought like crazy on the weekly, there is still more room for about 2 weekly rises.
The weekly in 2 weeks, end of may, would then make the peak at 10k and turn red, brutally dumping from 10k to the 0.618 fib at 5.3k, then bouncing back,
and stabilizing at around 6k, which has been the stable price before the dump after November 2018.
Highly interesting times, and it is truly refreshing to see BTC do something unexpected.
When BTC didn't do the low I thought it would do, I reacted by starting to immediately buy altcoins (mostly ETH, XRP, and a few smaller ones).
Because they didn't pump yet as strongly as BTC, and are always lagging behind (sometimes 1year+ !!!!). But going crazy, they will also!
Patience one must have, patience!
Then, only then, in this crazy crypto market, success can one have . (spoken like Yoda)
I posted a month ago a contrarian view, because BTC likes to do the opposite of what people think it will do.
For example, I did the same mistake to make the 2015 fractal comparison, therefore thinking that we'd see one final leg to 2000 USD.
It didn't come of course.
But as soon as we started bursting through all important resistances, I went full bull, and was anticipating that BTC would go quite higher than most though possible.
Here's the chart:
However, this is starting to look more and more not like the first rally 2012, but like the second one !!!
-The widening weekly bollinber bands: check
-The weekly candle structure: check
-Bursting through all resistances like a crazy bastard: check
If indeed now this resembles the second rally, BTC could see the peak at 10k.
Because the second 2012 rally went to the 50% ATH level, so 32/2 USD = 16 USD.
Therefore we could see ATH/2 = 10k USD as the peak.
In that case, we would retrace down to the 0.618 fib support at no lower than 5.3k. We would never see sub 5k prices ever again.
Even though we are overbought like crazy on the weekly, there is still more room for about 2 weekly rises.
The weekly in 2 weeks, end of may, would then make the peak at 10k and turn red, brutally dumping from 10k to the 0.618 fib at 5.3k, then bouncing back,
and stabilizing at around 6k, which has been the stable price before the dump after November 2018.
Highly interesting times, and it is truly refreshing to see BTC do something unexpected.
When BTC didn't do the low I thought it would do, I reacted by starting to immediately buy altcoins (mostly ETH, XRP, and a few smaller ones).
Because they didn't pump yet as strongly as BTC, and are always lagging behind (sometimes 1year+ !!!!). But going crazy, they will also!
Patience one must have, patience!
Then, only then, in this crazy crypto market, success can one have . (spoken like Yoda)