I've been flipping and flopping harder than a Magikarp, and getting a massive headache. Enough bear pornography. I can't believe I didn't have the 1.618 fib marked on the expanded flat correction until today. BTC has been holding the 1.618 fib at $18,326 this whole time pinging off the fib with a strong weekly candle.
So the million dollar question is: Is the bear market over? Is the bottom in? $200,000 incoming? I don't think so. I think a Wave 4 pump back to $26,000 -$30,000 is coming. Wave 4 can't intersect with Wave 1, so if this wave count is correct, then BTC can't pump back above $32,950. Hey there's a .618 fib there!
Everybody has seen enough of bear porn. So time for some bull porn. On Cipher B, every time bitcoin has notched a green buy signal below the oversold (White trend line) territory, that has ALWAYS marked the bottom for the bitcoin bear market. Additionally, bitcoin WILL print another buy signal in the next few hours/days. The pink VWAP line needs to cross above 0, and it's at -0.71. The VWAP isn't taking into account this week's close, so the buy signal will print in a few hours assuming bitcoin "HOLDS THE LINE"! We will also see Jayson Casper's infamous uneven buttcheek pattern happen on Cipher B on the weekly time frame.
So is the bottom in? I don't think so, but I believe there will be more bullish continuation to $26,000-$30,000. I wish I had this fib level marked earlier. Let's see what happens.
So the million dollar question is: Is the bear market over? Is the bottom in? $200,000 incoming? I don't think so. I think a Wave 4 pump back to $26,000 -$30,000 is coming. Wave 4 can't intersect with Wave 1, so if this wave count is correct, then BTC can't pump back above $32,950. Hey there's a .618 fib there!
Everybody has seen enough of bear porn. So time for some bull porn. On Cipher B, every time bitcoin has notched a green buy signal below the oversold (White trend line) territory, that has ALWAYS marked the bottom for the bitcoin bear market. Additionally, bitcoin WILL print another buy signal in the next few hours/days. The pink VWAP line needs to cross above 0, and it's at -0.71. The VWAP isn't taking into account this week's close, so the buy signal will print in a few hours assuming bitcoin "HOLDS THE LINE"! We will also see Jayson Casper's infamous uneven buttcheek pattern happen on Cipher B on the weekly time frame.
So is the bottom in? I don't think so, but I believe there will be more bullish continuation to $26,000-$30,000. I wish I had this fib level marked earlier. Let's see what happens.
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Revising the last SPX post, I think I've been focusing too much on the supply trend line assuming it can never break. This is another possible double three WXY with the X wave at $4,600 with a 1:1 ABC correction.
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Cipher B also about to print a weekly buy signal on S&P 500. Another Jayson Casper uneven buttcheek.
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Lower Time Frames: I think a dump is coming. MM's just propping price up for the weekly close imo. I think a retest of the Fixed VPOC of this trading range at $21,200 is in play.
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Certainly didn't expect a 10%+ dump today, but BTC tagged it's VAH and got quickly rejected. So far holding the .618 fib at $20,000, but I don't think the pain is over yet. With SPX absolutely nosediving off a cliff, the pain probably isn't over yet. 19k-19,400 looks like a potential reversal
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Also it's interesting to note bitcoin dominance is also nosediving. Normally when SPX nosedives, bitcoin nosedives with, but dominance increases. Alts are holding up extremely well.
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Wicked into the .786 fib at ~$19,300
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Another bounce off the long term 1.618 fib
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And another bounce and another bounce. 1.618 fib at $18,500 solidifying as support with divergence. Channel your inner Michael Saylor
