KryptonuQ
Short

WHY 10K WONT HAPPEN

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi guys!

I think the 10k that everyone is talking about, might not gonna be reached before a major correction. Or if we do hit the bears gonna step in immediately. Why I think that?

If you look the 2015 chart when the bear market ended, the first parabolic move took us to 500 USD. It is very similar to 10k because it is a big psycholgical level and also a round number. We can also notice another similar thing. The 500 USD is very near to the 0.382 fib level. We are also very near to the 0.382 fibb right now.

So we are at the exact same fibb level, and we are also at a key price level. As you can see after the price hit 500 usd it crashed 40%. It could happen this time too.

Leave a comment and share your thoughts with me.

If you liked the analysis please leave a like!

***It is not a financial advice, It is only my own opinion.***
Comment: Looks like fomo is bigger than I expected, but I really do think that we do not have much room upwards. I am looking for a retest at the 10.5k level as a support, if it holds strong, maybe we could see further movement to the next fibb level up to 11.5k.
In contrast to the herd I also represent a diametrically opposed view.
The upshot of the idea is that after three supercycle motive waves up (2011, 2014, 2017) we might be in for a huge A-B-C correction this time around.
I am not yet saying that I was right, it is too early to judge, but it still looks possible to me:
+1 Reply
KryptonuQ ReallyMe
@ReallyMe, Yes I am aware of this scenario, it is probably an idea that everyone thinks is impossible, but the chance is always there. Even I think this idea is unlikely right now, but the comming correction is gonna be huge. An if we cannot hold major Moving averages and key support leveles this could be an ABC correction. But remember to always adapt to the current price action and dont wait for ever for a 2k price to load up that might never come!
+1 Reply
ReallyMe KryptonuQ
@KryptonuQ, Absolutely. That is exactly the way I judge the situation, too. I'm not waiting stiffly for 2k, I'm following the market and I'm curious to see how it plays out this time. ;-)
+1 Reply
It already has and it actually still has momentum for higher.

+4 Reply
welp lol
+1 Reply
The pattern your are talking about was the winklevoss ETF everyone was waiting for. When it was denied it triggered a heavy selloff.
At the moment we have this Facebook Libra thing going on. So the structure is not really technical.
Your conclusion is correct anyways.
+1 Reply
KryptonuQ sebastian.soik
@sebastian.soik, I did not know about that ETF, thanks for the info!
Reply
What if someone offered you $10K for a whole Bitcoin right now? Would you take it?
+2 Reply
KryptonuQ BitcoinBearSlayer
@BitcoinBearSlayer, If've just exited my long position at 9930. So yes, if I had an extra bitcoin for 10k I would sell it for sure.
Reply
@KryptonuQ, Too bad. If you owned over 1 BTC you would be in the top 95% of all bitcoin owners. The last 5% of total BTC available is for everybody else.
Reply
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