We can be looking around February 14 for Bitcoin bottom
How similar these patterns are, you have 2 wyckoff distribution patterns, that had little downtrend that we experienced basically from May through the July bottom of 2021 and we rebound we set a new all time high and now we're back in that downtrend again very similar price action of a down what's going on over here with Bitcoin earlier? So what's interesting is everybody's been talking about the death cross. I'll give you within the parameters of where we close today. So it'll probably be within $1,000 or so unless we get a big move up or down here.
But here's what I found. It let's take a look at the last death cross that was right here on June, June 20 2021, or actually June 19th 2021. So if we measure from the key, and that would have been 13th of April 2021. So April 13 2021 that we measure from the peak until the Death Cross process happened June 19 2021 at 67 days.
If you take the peak day, the last red candle is what I'm measuring. And you could do it on any day, but that peak was the eighth of November 2021. And you measure over again the measure over from the death cross from this point to the intersection of the death cross which is the 13th of January 2022, which is today 67 days.
So we have to prove the exact key to the death cross both times the death cross occurred in the exact same amount of days. So what happened after that but let's take a look. So if you go from here, the first time or the death cross occurred, it actually occurred exposed on us on a red day down day. And let's take back was about 35,500. So we're gonna go from there to the bottom, which was the June that I'm using closing cables, which was July bottom. That's kind of 16% decline.
So at the top of this range at 42.5 on January 14th 2022 and then we go down 15% in there that's gonna put us at this $36000 range.
So from the death cross happening to the bottom? That was approximately 31 days. So basically we're looking at 31 days. So this death cross happened June 19 to 2021 and the bottom was the 20th of July 2021, so about a month so from here today, we're at the 14th of January 2022. We can be looking around February 14 of 2022 for the bottom and then the ultimate retrace and what are we looking at there? We can take there in the notches and look at what's typically common from a retracement standpoint.
So Fib retracement from the peak to the bottom is the Green fib box .618 to .702 Somewhere in that range. So we're looking at 57 to 60,000 that we can expect one month from now that Bitcoin will start its path to 57 to 60,000 and all coins will be firing like crazy. If no black swan event.
There only 2 macro scenarios left!!!
1. Ascending logarithmic triangle pattern which needs a bounce weekly bounce within the triangle.
2. The broadening bottom capitulation from $27.5k
But here's what I found. It let's take a look at the last death cross that was right here on June, June 20 2021, or actually June 19th 2021. So if we measure from the key, and that would have been 13th of April 2021. So April 13 2021 that we measure from the peak until the Death Cross process happened June 19 2021 at 67 days.
If you take the peak day, the last red candle is what I'm measuring. And you could do it on any day, but that peak was the eighth of November 2021. And you measure over again the measure over from the death cross from this point to the intersection of the death cross which is the 13th of January 2022, which is today 67 days.
So we have to prove the exact key to the death cross both times the death cross occurred in the exact same amount of days. So what happened after that but let's take a look. So if you go from here, the first time or the death cross occurred, it actually occurred exposed on us on a red day down day. And let's take back was about 35,500. So we're gonna go from there to the bottom, which was the June that I'm using closing cables, which was July bottom. That's kind of 16% decline.
So at the top of this range at 42.5 on January 14th 2022 and then we go down 15% in there that's gonna put us at this $36000 range.
So from the death cross happening to the bottom? That was approximately 31 days. So basically we're looking at 31 days. So this death cross happened June 19 to 2021 and the bottom was the 20th of July 2021, so about a month so from here today, we're at the 14th of January 2022. We can be looking around February 14 of 2022 for the bottom and then the ultimate retrace and what are we looking at there? We can take there in the notches and look at what's typically common from a retracement standpoint.
So Fib retracement from the peak to the bottom is the Green fib box .618 to .702 Somewhere in that range. So we're looking at 57 to 60,000 that we can expect one month from now that Bitcoin will start its path to 57 to 60,000 and all coins will be firing like crazy. If no black swan event.
There only 2 macro scenarios left!!!
1. Ascending logarithmic triangle pattern which needs a bounce weekly bounce within the triangle.
2. The broadening bottom capitulation from $27.5k
Trade active:
Going Into Phase B
Comment:
just like that Feb 14th, the day i said we'd see a reversal in the trend, to the exact day, soon as we came out of the red box a marked on the chart bitcoin started to pump, will be having a golden cross on the daily, going into the weekend, the 20DMA crossing over 50DMA, in the previous wyckoff distribution bitcoin went on a $20k pump.