TradingShot
Long

BTC shifts bands to $100,000 and no one is noticing the pattern!

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
Bitcoin is now next to making the 0.382 Fibonacci retracement test ( ATH to 3150 bear cycle Low) and one thing has shocked the crypto world more than anything. The considerably shorter time it has taken BTC to do so compared to the previous two cycles. Few expected such a strong and continuous rebound since the 3150 bottom. Is this right? Since most researchers though that market cycles take longer within Bitcoin's parabola, why are we seeing such a strong rise and such a short test of the 0.382 Fibonacci?

Well what I posted 3 months ago regarding BTCUSD's band shift on the Fibonacci Channel, warning of an upcoming hyper strong bullish sequence while the price was still 3800, is now more relevant than ever:




Maybe the cycles don't become longer each time. Maybe they take turns. One is longer, the next is shorter and then the process is repeated. So far the Fibonacci Channel since its inception has been providing very clear supports for the cycles' bottoms (on 0.5, 0.382, 0.236 and near 0 in succession). This process may be reversed from now on with each bottom being on a band higher.

The current strong rebound from 3150 to 9100 may be an early indication of this band shift showing that the very aggressive bull cycle of 2012 - 2013 may be repeated. This suggests that the $100,000 land mark may come as early as 2020.


Do you think that we may be getting to 100000 that soon? Let me know in the comments section. Please subscribe and like if you enjoy the content!
High accuracy signals at http://www.tradingshot.com. Few selected trades per day. Excellent risk management.
Hi. I am seeking advice from many famous traders. I think that if BTC reach the last peak in 2017 before 2020 Halving, there will be possibility that the four-year cycles of BTC is likely to change to three-year. What do you think, your precious opinion is a great help to many people.

+1 Reply
@pkb6698, Of course there is such possibility and as a matter of fact a very strong probability. But for this to happen all the parameters you set on your chart need to be aligned. If anything diverges, the BTC's cycles will continue getting longer as the asymptotic behavior suggests.
Reply
pkb6698 TradingShot
@TradingShot, Thank you for your advice, I totally agree with your opinion. This was a big study for me. Thanks again^^
Reply
Comment removed.
Comment removed.
My opinion
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out