Welcome for another grand update on Bitcoin part of THE BEAR MARKET CONTINUES PART X.
The main change from the last part is the creation of a new All time high. On the chart, we see a double bearish divergence that has never formed on a weekly chart. At the same time the price tested 161.8% wave (a). Also note the declining weekly volumes. This convinces me more and more that wave (b) has been completed. Now is the golden time for short.
On RSI you see a red horizontal line at 53.34. She was a support throughout the bull run in 2016-2017. Whenever the price fell below WMA 21, the RSI also fell below the red line. Hidden GAP is a zone that the price just flew through and never tested.
This is a projection of Expanded or Irregular FLAT. In this correction, wave (b) must not return more than 161.8% of wave (a). That is still fulfilled. Wave (c) should return at least 138.2% of wave (b) (FINAL TARGET). The potential bottom is located at the bottom trend line of the growth channel.
I'm looking forward to your hate. Good luck bulls.
Final Target = 1010.44 USD Potential bottom = 964.11 USD Hidden GAP 1319.47 - 1814.76 USD Right Fibonacci Retracement wave (b) Left Fibonacci Retracement wave (a)
Please be aware guys. We are in a strong bull trend like never seen before. And the bull cycle has not even started. These types of analysis are circulated in here by whales and big exchanges. Currently there are not enough shorts in the market and exchanges need more and more shorts to fund the longs. Any good trader cannot be wrong for 12 months. Dont short unless the trend changes.You see all past analysis by fox 666. Had Suggested to short from 12kš
imal_max
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I also look for a short at the moment. But bro 1K seriously? If you hold on to your imagination short until 1K, have fun hitting your invalidation point, as on your last few doomer TAs.
gigabyte3d
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Youve been sayng this for the last 12 months? Whos paying you to post this garbage?
Fox666
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@gigabyte3d, This content is free. Nobody pays anything.