obviously it's not very accurate; just saying; we'll probably see something similar as what happened before ... sideways, jump up., sidesway, jump up ...
This is nearly my downside target as well. Nice confluence. I would not be surprised with 7700, or much lower, if there's downward momentum from the world markets imploding. That is, if BTC is already in the process of going down and everything implodes, that might carry it down farther than expected. BUT from those ashes, UP, UP and more UP.
Thanks again for posting!
jamesaphoenix
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@waterslide, I think we're gunna have a nice correction then a big moon ;) Also small cap alt coins seem majorly deflated in comparison to larger marketcap coins atm.
MichielVan_Kets
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@waterslide, yes, I agree; it's like in march, it was going for a drop anyway, but due to the stock market crashing it dropped even lower, so that might happen again indeed, but ... overall it's on an upward trend
shimmeringpath
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Agreed . I had very similar idea in my chart calling 14k by Halloween !
waterslide
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Ha ha ha! Nice! One of the best predictions on tradingview and it's a couple hand drawn white squiggles! :D
although this one is still my own personal favorite;
those fib channels are solid
waterslide
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@MichielVan Kets, Epic call! And those lines are amazing. Kudos to you for figuring it all out! <-- Not Easy.
My own analysis predicts a high of 14200 for the top of the new trading range and I see that is just a couple hundred points below what you have on your "rosetta stone" chart! Confluence always makes me feel better ;) Hope you're making a huge profit in this market -- Cheers Amigo!
fib channels; 3 points to click;
2 highest points and the lowest point; done
I bought my first btc in 2010 ... a lot of my trading is based on ... still being able to sleep at night ... seriously!!
I did the short term swing trading in 2015 and after a while i was getting really good at it, but I had to stop because I just never got a proper full night sleep, so ... playing long term waves now; I sleep much better now
cheers mate
waterslide
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@MichielVan Kets, YES to sleep. I now only play the big moves (1000-2500 point swings) but will take an occasional long or short off a pivot failure or bounce. However, when these big moves are afoot, I am hyper alert and my sleep suffers. In fact, I had to scale out of 3/8 of my long today just in the hope that by taking profit I could get a good night's rest.
Regarding fibs, I've read all of your posts and have learned a lot from your charts! I always keep a couple of your fib lines turned on for my macro analysis. It was one of your posts that got me interested in fibs in the first place, but I never would have thought to pull the fibs across the entire BTC structure -- that was brilliant. Again, really appreciate you sharing. In my experience, the best traders keep it simple.
Thanks again for posting!