Hello everyone. The old permabull teh_Salesman is back, and I have something interesting for you. First off, some simple technicals.
At the moment we are holding a long-term bullish trendline since 2015: (This trendline can be construed many different ways. I printed mine this way for the sake of argument that Bitcoin is still in a multi-year bullrun considering the facts below.)
We are also forming a golden cross of the 50/100 MA's on the daily:
We have hidden bearish divergence in the weekly:
----------------------------------------- Now, my reasonings for this post:
A few weeks ago, I decided to do a meta post and compare the bear market of 2015 with the bear market of 2018/2019. I found some very uncanny similarities. You can see that idea here: Bitcoin, as usual, didn't exactly repeat itself. So, I decided to take a deeper look into the 2015 bear market and to my surprise, the answer was staring me in the face the entire time.
An ascending triangle. 2015 style:
Anything look familiar?
Now, another thing I noticed, within that ascending triangle of 2015.
Compared to now:
Also, Bitcoin and all assets have a very cyclical nature. If you can spot cycle fractals, you can sometimes predict which cycle an asset is in. The same pattern that you see above can also be seen in the actual full structure of Bitcoins past bullruns:
Are your eyes wide open yet? I have 3 very serious questions for any bears out there blind enough not to see what is happening.
1) Why does Tether still have a premium? 2) Why has Bitcoin lately outright ignored divergences that in 2018 would of made it come crashing violently down? 3) Why are alts suddenly market-wide having insane pumps?
Have we actually outright ended the bear market and are beginning a wave 5 upwards? Are we going to get to 6k and peter out? Will we get all the way up to 10k/12K for a fakeout? Do you think we're still going lower?
Share below!
This has been your favorite old-time moonboy back at it again, only this time a lot smarter. My name is MC Peewee, but you can call me teh Salesman.
Comment
⋅
Charts from a friend of mine, that I thought I'd also share on this idea:
First of all, the grandaddy chart of Bitcoin showing a potential wave 5 to start:
DGB finalizing a wave 4:
VET in a massive 90 day accumulation range:
SiaCoin beginning a wave 5 next:
Comment
⋅
Wave 3* on Sia
Comment
⋅
I should probably clarify here- There is a very strong possibility we will break our current low. If that were to happen, it would be AFTER creating a higher high on the daily. I suspect this would happen somewhere between May and August. This drop would be very severe, but should cause a huge wick and bullish divergence in the weekly. If it mimics 2015 to a tee, it would mean the end of the bear market as we know it and the start of a multi-year bullrun.
Right offhand I'm thinking if we drop below $3,120, I'm guessing around $2,300/$2,500 to be the final low.
Comment
⋅
Apologies. Not sure what I was thinking while writing up above, lol. $2,500-$2,900. Broad estimate but I'll have to look into it more in depth and share later.
You know what I think, no one likes a party pooper but I'll
Be looking forward to the party whenever it arrives. I don't know why but what everyone seems to neglect is that sticks are about to do what Bitcoin did a year ago and has been doing since. Bitcoin will easily go sub 1k. See you there
deactivatedaccount123
⋅
@dRends35, It's funny. I have been so positive that stocks are gonna roll over, but I'm starting to think stocks could actually have another bullrun, but it would likely be the last.
Sub 1K I don't see happening until MAYBE after this cycle. I'd be very surprised to see triple digits at this point with all the extremely bullish fundamentals coming out of Crypto as a whole.
I was so positive we were gonna drop to triple digits, and I think we still will, but I don't think this is it yet. We'll see though. I'll be a very happy man if Bitcoin can get that low
PonziTycoon
⋅
You are full of shit. You post bearish predictions and now bullish predictions. Im calling BULLshit!
deactivatedaccount123
⋅
@TelecomTycoon, Random bruh.
Look what happened after this idea.
Bullsh*t indeed..literally.
deactivatedaccount123
⋅
@TelecomTycoon, Wait I just realized. I am *now* posting bullish predictions? lol since when? I've been posting bear predictions man
WBM_Team
⋅
Thank you for your analysis.
We think we are close to a trend reversal. This happens for the first time since Aug 2018.
GER-Quality-Trades
⋅
What in the hell is this :D?
Applying random indicators and then fit them to your chart does not make a solid TA! You invested much time tho its just a random drawing in this one! No offense man, just my opinion
CryptoEngineering
⋅
anonycoin
⋅
Bro, what if we are going down which opposite to your title ? ...
deactivatedaccount123
⋅
@anonycoin, We will be going down one last time. As a matter of fact, I think we could very well touch 2k, but that will be it.
The bullrun is here, but it won't come without a test of even the HODLiest of HODLers first :p
Be looking forward to the party whenever it arrives. I don't know why but what everyone seems to neglect is that sticks are about to do what Bitcoin did a year ago and has been doing since. Bitcoin will easily go sub 1k. See you there