LisaNEdwards

IS BITCOIN ABOUT TO RAIN BEAR TEARS?

Long
BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Dear Traders and Hopeaholics alike,

For those that have followed me for a while, will know BEAR TEARS are one of my favouite things, to start... and before reading... have "Journey - Don't Stop Believin" playing in the background to set the mood after all I am the self-proclaimed President and Founder of HOPEAHOLICS ANONYMOUS (or HA for short), so as you laugh... I'd like to remind you, so far my long-term charts are all VERY ACCURATE... So while many of you are waiting to BUY the 20K region, I am going to tell you why, you might just want to start buying now.

I gave you this chart... which we are in the internal 4th wave of the greater 3rd. While we pierced the TECHNICAL PIVOT we have bounced strongly and held the long-term pattern by a wick.

The INTERNAL WAVE PITCHFORK

INTERNAL 4TH WAVE CORRECTIVE STRUCTURE

To follow up the pattern I have added a pitchfork and taking you on a wild carpet ride through some scenarios I believe show where the market is going!

CHART 1 below shows the pitchfork clearly holding supports.
https://s3.tradingview.com/snapshots/v/V...

CHART 2 It is only just the beginning for BITCOIN , the pitchfork taken from the beginning of time, also shows support.
https://s3.tradingview.com/snapshots/i/I...

CHART 3 Using ELLIOTT WAVE here, I show the potential wave pathway.
https://s3.tradingview.com/snapshots/e/E...

CHART 4 Here again using ELLIOTT WAVE PROJECTION, the internal 3rd wave Pathway.

CHART 5 In ELLIOTT WAVE THEORY the 4th Wave is generally a Triangle and due to this being a BULL MARKET I believe this is the most likely pathway. A bullish rising wedge .
https://s3.tradingview.com/snapshots/u/U...

These wave patterns are still viable to take BITCOIN to my previous prediction of $142,000 for the Greater 3rd Wave Pattern shown.

BITCOIN SUPERCYCLE EXPLAINED

For those that are new to my charts, here is the explanation of why I think this is valid and continues to be so.
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One day... a long long time ago in a faraway land (Australia) there was a man who called himself Satoshi Nakamoto... now he invented Bitcoin , and gave it a limited supply, of 21million coins, to date about 18.5million have been mined... It is estimated one-third of those mined coins are forever out of circulation, being forgotten about, lost wallets or passwords... but cannot be accessed ever again... There is also increased mining difficulty.

This process has adapted over time...
On launch, miners received 50 BTC
in 2012 it halved to 25 BTC
then 2016 again halving to 12.5 BTC
and last year on 11th May 2020 we are now down to a mere 6.25BTC (as of today's writing this that is approximately $300,000.00 USD)
Bitcoin's inflation rate is lowered effectively at the 4year mark, and the algorithmic math difficulty increased, making it harder for the computers to "guess" or "crack" 64-digit hexadecimal number (a "hash") this can take trillions of attempts. With this, mining difficulty increased, it is estimated the last BITCOIN may not be mined until 2140 long after we have all left this Earth or if the network no longer continues to exist.

Post 21 million coins mined - Bitcoin is designed to function as a closed market/economy, with transaction fees similar to taxes. At some stage for long-term survival, these fees will need to be capped or managed.

So where is all this going you may ask...

What Satoshi Nakamoto failed to take into consideration in this model, was SUPPLY AND DEMAND , in a closed market when demand is high and supply is limited, PRICE can increase in large increments, causing the price to rise in significant amounts in short periods. As we are seeing on the chart now.

Over the next few months more and more you will hear, the term SUPER CYCLE, which I explain here. The total crypto market cap
it is an Elliott Wave term that explains the strong demand and growth within a market in a short period of time.

Why BITCOIN is not a PONZI is the strong demand within the market currently, and with demand we achieve growth.

It is explained from an except https://www.britannica.com/topic/supply-...
Supply and demand , in economics, the relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. It is the main model of price determination used in economic theory. The price of a commodity is determined by the interaction of supply and demand in a market. The resulting price is referred to as the equilibrium price and represents an agreement between producers and consumers of the good. In equilibrium, the quantity of a good supplied by producers equals the quantity demanded by consumers.

So in essence when the demand curve grows (the parabola is shown on the chart) the price grows with this, sometimes breaking away with increased high demand. These regions will always be tested (a correction) and then usually continue higher. It is only when this curve is broken the demand is waining that supply becomes abundant, hence causing the price to decrease.

In summary, as long as DEMAND is high and increasing, and Bitcoin SUPPLY which we know is fixed or limited, the price will continue to grow.

Again a more serious post from me, just alerting you to the fact CRYPTOCURRENCY is here to stay, and this is only the beginning!

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When trading, always know you are in control 100% as you are pushing the buttons, and it is YOUR money/cryptocurrency you are trading. BUT let me tell you this... at HOPEAHOLICS ANONYMOUS and in my world... ANYTHING IS POSSIBLE!!!

SHOOT FOR THE MOON - EVEN IF YOU MISS YOU'LL LAND AMONG THE STARS, BUT AT THIS STAGE I AGREE WITH ELON AND THINK WE ARE ALL HEADED TO MARS!!!

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If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT IT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns.

So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED!
And remember, there is NO RIGHT OR WRONG in trading - just money management!

REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!

<3 Lisa

DISCLAIMER:

The Legal stuff - I'm not a financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...

PS make sure you give me a like, that way you get updates as I post them.... :) <3