Chart shows green BTC fractal overlaid on current correction.
Fractal is 2013 high + 2014 correction + 2015 bottom + 2016 uptrend.
Bullish
The channel represents the stable market growth of Bitcoin and crypto in general since 2011.
Bearish
There really is not too much to say. The market is ruled by two force as so often the case in nature. The winner will decide the direction we go. It has been clear since the last dump from 8500 that bearish forces have been dumping heavily to push the price down. Since the last bottom at 5900 bullish forces have been fighting back hard and have accumulated a lot. I believe that this has been due solely to a few large 'whales' not small market participants (plebs). This is what people mean by manipulation. Just buying and dumping on a huge scale in order to move the price. It all depends who has more ammo.
The above chart is a re-sizing of the 2014 correction. By the way no guarantee that the dumpers will stop at 3000. I seriously doubt it in fact. You'll notice I split the fractal because of that dump from 8500 that mentioned.
If we lose the exponential channel I doubt we will see a new all time high. But I doubt the bears really care. Remember that if crypto just disappears 99% of the world will probably never know about it!
Fractal is 2013 high + 2014 correction + 2015 bottom + 2016 uptrend.
Bullish
- As can be seen, we have completed the same market structure up to the parabolic reversal at the end of 2015.
- The level approx. $ 5770 has provided solid support since October 2017.
- We have returned to the mean (dotted line marking centre of 7-year exponential trend)
The channel represents the stable market growth of Bitcoin and crypto in general since 2011.
Bearish
There really is not too much to say. The market is ruled by two force as so often the case in nature. The winner will decide the direction we go. It has been clear since the last dump from 8500 that bearish forces have been dumping heavily to push the price down. Since the last bottom at 5900 bullish forces have been fighting back hard and have accumulated a lot. I believe that this has been due solely to a few large 'whales' not small market participants (plebs). This is what people mean by manipulation. Just buying and dumping on a huge scale in order to move the price. It all depends who has more ammo.
The above chart is a re-sizing of the 2014 correction. By the way no guarantee that the dumpers will stop at 3000. I seriously doubt it in fact. You'll notice I split the fractal because of that dump from 8500 that mentioned.
If we lose the exponential channel I doubt we will see a new all time high. But I doubt the bears really care. Remember that if crypto just disappears 99% of the world will probably never know about it!
Comment:
It's not just Bitcoin that has this type of correction market structure. Here we see it compared with gold (yellow) from the 1980s.
Comment:
basically how I see things, I bought lower down, but I'm not taking profits just going for broke on this one, peace medium.com/@sunnyday...this-it-1c39cbae05ae
Comment:
Bounced off the 500MA yesterday, well done the bulls! Let us go forward together!
Comment:
Weekly view. If we stay above the mean (dotted line) then middle of September should get interesting.
Comment:
Looks like we dumped at the exact moment of the top of the fractal parabolic starts dumping and by almost the same amount... interesting.
There were so many shorts over the last 2 weeks... quite sad.
At this stage I don't expect further down and hope for a reversal within a week.
Hopefully the futures boy don't make us test the bottom of the channel.
There were so many shorts over the last 2 weeks... quite sad.
At this stage I don't expect further down and hope for a reversal within a week.
Hopefully the futures boy don't make us test the bottom of the channel.
