#BTC long-term zoomed out!
Pulling Fibonacci from each top (swing high) to Each bottom (swing low)
2013 Bull market:
Once price flip the 50W EMA and the 0.702 level breaks Bull Market begins
Mid-cycle correction happen between 1.618 -1.236 and bull market at 2.272 fibs
From here Bitcoin goes in to bear Market RSI trend gives a hint.
2017 Bull market:
After the market found a bottom near to 30% RSI weekly #Btc repeats itself again just like the 2013 market.
0.702+ 50W EMA flipped goes to bull market
Mid-cycle happen again between 1.272 – 1.618
And market Tops out again 2.272 fibs
Only different in 2017 bull market had a steady uptrend we each dip bounced from 21 Weekly EMA
However, the 2013 bull market went too fast to 1.618 Fibonacci where then the price has to correct big time to build base again.
2021 bull market.
So far we have been repeating the same style:
0.702+ 50W EMA flipped goes to bull market
Mid-cycle happen again between 1.272 – 1.618
2021 has a similar vibe just to the 2013 bull market. Bitcoin went too fast where we had this 2 mega correction. of course, Corona came also in to play.
Can we repeat it again? so far they are the similar times will tell
Zoomed we could play the same type away with the fibs all pointing out to 2.272 fibs.
Key Here is to hold weekly 50 EMA and the RSI trendline.
28.8K absolute must hold! Break of these 3 things invalidates the setup.
Nothing is guaranteed anything can happen so always manage ur risk. Take example corona dump.
Previous Update:
applying Elliott Wave Theory on BTC
Pulling Fibonacci from each top (swing high) to Each bottom (swing low)
2013 Bull market:
Once price flip the 50W EMA and the 0.702 level breaks Bull Market begins
Mid-cycle correction happen between 1.618 -1.236 and bull market at 2.272 fibs
From here Bitcoin goes in to bear Market RSI trend gives a hint.
2017 Bull market:
After the market found a bottom near to 30% RSI weekly #Btc repeats itself again just like the 2013 market.
0.702+ 50W EMA flipped goes to bull market
Mid-cycle happen again between 1.272 – 1.618
And market Tops out again 2.272 fibs
Only different in 2017 bull market had a steady uptrend we each dip bounced from 21 Weekly EMA
However, the 2013 bull market went too fast to 1.618 Fibonacci where then the price has to correct big time to build base again.
2021 bull market.
So far we have been repeating the same style:
0.702+ 50W EMA flipped goes to bull market
Mid-cycle happen again between 1.272 – 1.618
2021 has a similar vibe just to the 2013 bull market. Bitcoin went too fast where we had this 2 mega correction. of course, Corona came also in to play.
Can we repeat it again? so far they are the similar times will tell
Zoomed we could play the same type away with the fibs all pointing out to 2.272 fibs.
Key Here is to hold weekly 50 EMA and the RSI trendline.
28.8K absolute must hold! Break of these 3 things invalidates the setup.
Nothing is guaranteed anything can happen so always manage ur risk. Take example corona dump.
Previous Update:
applying Elliott Wave Theory on BTC
Comment:
P.s
It’s not what I hope to happen or what I think might happen, I am just presenting to you the facts I’m reading the facts in the charts to you and presenting to you the knowledge that you need to know to make more sound decisions.
Btw this is crypto it’s a different animal than the Stock market. If u can’t handle this correction then crypto is not for you.
“ Important to be subconsciously and consciously to be emotionally sound with a 20% 25% move in either direction at any time if you can emotionally be sound there you’ll make substantially better decisions”
It’s not what I hope to happen or what I think might happen, I am just presenting to you the facts I’m reading the facts in the charts to you and presenting to you the knowledge that you need to know to make more sound decisions.
Btw this is crypto it’s a different animal than the Stock market. If u can’t handle this correction then crypto is not for you.
“ Important to be subconsciously and consciously to be emotionally sound with a 20% 25% move in either direction at any time if you can emotionally be sound there you’ll make substantially better decisions”
The drop in May we confirmed the break once the price was above O.382 fibs. and also the price was consolidating between 20 - 50 EMA just like the current stat.