Hello Traders.
I have focused primarily on forex as of late as it has become ever more clear that Bitcoin intended to have a period of consolidation.
Now, I will preface here by saying BITCOIN THE KING has been my first love in trading. I learned from crypto, and am as close to a perma-bull as one can be in this game, and still be successful.
THAT BEING SAID,
Obviously Bitcoin is cyclical in nature. How long will this continue? There's no telling.
Our Fibonacci analysis predicted the MASSIVE breakout from 4k with exact precision. IF, and I mean IF, Bitcoin continues on the path it has been on for some time, what is projected here is very very possible. Actual targets for the next bull run...almost impossible to say. I think we can all agree that if you believe in this tech, $20,000 will be a laughable number in retrospect.
I have included everything on the chart needed to express my thoughts.
Now, it's really hard to say where exactly we are in the process, but two things are obvious here;
1. THIS IS NOT THE BULL RUN. WE ARE IN PRE-BULL TERRITORY.
2. This cycle has been completing ROUGHLY 30% faster than the previous one. This can be attributed to multiple things...more adoption, savvier traders, more users on the network, etc. If anything, it's only logical that we should be moving faster than before.
There are a million and one "hot shot" analyses on Tradingview for Bitcoin. I've refrained from posting this a while to sit back and observe, and cool off a bit from the wondrous breakout we had from the low.
I hope you have all done the same, and I hope everyone made some money. There are more opportunities coming, friends.
Moving forward, it's possible we breakout directly from here, or we break down and make another nice low around 7-8k. I lean towards a breakout directly from 10k, but again, it's hard to tell exactly where we are in the cycle.
Remember - MARKETS RHYME, THEY DON'T REPEAT
In closing, ANYONE who says they know what will happen, is full of it. This chart is simply my expression of what I've been thinking for some time....as far back as early 2018.
This is the home stretch, boys. Keep your heads cool, practice good RRR/trading habits, and you will be just fine.
Good luck traders.
I have focused primarily on forex as of late as it has become ever more clear that Bitcoin intended to have a period of consolidation.
Now, I will preface here by saying BITCOIN THE KING has been my first love in trading. I learned from crypto, and am as close to a perma-bull as one can be in this game, and still be successful.
THAT BEING SAID,
Obviously Bitcoin is cyclical in nature. How long will this continue? There's no telling.
Our Fibonacci analysis predicted the MASSIVE breakout from 4k with exact precision. IF, and I mean IF, Bitcoin continues on the path it has been on for some time, what is projected here is very very possible. Actual targets for the next bull run...almost impossible to say. I think we can all agree that if you believe in this tech, $20,000 will be a laughable number in retrospect.
I have included everything on the chart needed to express my thoughts.
Now, it's really hard to say where exactly we are in the process, but two things are obvious here;
1. THIS IS NOT THE BULL RUN. WE ARE IN PRE-BULL TERRITORY.
2. This cycle has been completing ROUGHLY 30% faster than the previous one. This can be attributed to multiple things...more adoption, savvier traders, more users on the network, etc. If anything, it's only logical that we should be moving faster than before.
There are a million and one "hot shot" analyses on Tradingview for Bitcoin. I've refrained from posting this a while to sit back and observe, and cool off a bit from the wondrous breakout we had from the low.
I hope you have all done the same, and I hope everyone made some money. There are more opportunities coming, friends.
Moving forward, it's possible we breakout directly from here, or we break down and make another nice low around 7-8k. I lean towards a breakout directly from 10k, but again, it's hard to tell exactly where we are in the cycle.
Remember - MARKETS RHYME, THEY DON'T REPEAT
In closing, ANYONE who says they know what will happen, is full of it. This chart is simply my expression of what I've been thinking for some time....as far back as early 2018.
This is the home stretch, boys. Keep your heads cool, practice good RRR/trading habits, and you will be just fine.
Good luck traders.
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More insight here with some more Fibonacci based possible fractals. Interesting how this fits on top of the analysis..
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9400 could prove to be a critical support area, just let them play this out however they'd like. No sense in fighting this chop zone unless you know what you're doing, just keep in mind the fractal below is slightly above 8k which would be that scenario we talked about above. Maybe it's because I haven't slept in like 50 hours but, this type of price action just annoys me. So much hand wringing incited over what really just looks like noise in the big picture.
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We have our answer!
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I would very much like to see today close green, but if we can at least end the week close to 9k that'd be great.
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this analysis still stands but the ghost bars have been updated, we're further along than I thought
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This is likely my favorite Bitcoin idea. I like how close it is with just being off enough to learn something.
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Are you not entertained?
