hashfail

This Bitcoin Formation Predicts When the Bear Market Will End

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Yup, for those that weren't aware (and I haven't seen a lot of charts on it, if any at all), there is a special chart pattern/formation that can tell us everything we need to know about Bitcoin if it ends up being valid.

The formation in question here is the Rounding Bottom Chart Formation.

This is something that I have not seen ANY one post about!

So, I'll show my findings below and you can comment on it and say what you think.

Bitcoin Long-Term Price Prediction Based on the Rounding Bottom Formation

What you see on the chart above is something called the ‘Fib wheel’. The Fib Wheel (courtesy of TradingView), was applied on this chart to get a better idea of where we should start the rounding bottom chart formation.

Why?

Because of the design of the Fib Wheel itself. It virtually plots out various rounding bottom formation lengths (based on fib levels).

These different lengths are designed for products of varying volatility and price fluctuation.

The Ultimate Theory

Everytime the price breaks into another channel, the Rounding Bottom Chart Formation (if it is indeed present), must be considered ‘restarted at that point.

Below are the marked restart points to help you out:


So, only twice thus far technically. hese times are represented by the transparent blue boxes in the photo above.

As you can see, the latest blue box can be detected at the start of the .786 ring level of our Fib Wheel.

What the Wheel / Rounding Bottom Formation Predicts


Based on the wheel is showing us here, the ‘low’ could potentially be at $2,921/Bitcoin.

This does not mean that it is an iron-clad guarantee. The price could 'dance around' this $2.9k mark. But, at the very least, assuming that the price remained in this channel without breaking south or north, it will eventually touch down somehwere around $2.9k.

The chart shows that this would occur at some point around the beginning of November. While this is not unreasonable by any means, the price is a significant ways away from that point currently:


If the price did touch this point, it would represent a 55.66% loss in price in a little under two months from this present point.

However, Bitcoin is no stranger to such drops, and there’s a chance that it could eventually backslide in price again as it tests the top of the rounding formation’s ‘range’ (what would essentially break the pattern altogether).


The two red boxes in the chart above show that the price has been duly rejected twice when it has attempted to break through to the next Fib pattern/layer.

Currently, the overhead resistance is at $6.9k.

More Information About Our Daily Resolution Rounding Bottom

So far we know a good amount of inforamtion, but we don’t know everything we need to know.

Here’s a list of some important things to remember/consider:

Fact #1
The ‘lip’ of the cup is at $10k.

Fact #2
The potential bottom is at $3k

Fact #3
The cup predicts that the lip may be surpassed at any point between April 11th 2019 and June 19th, 2019

Fact #4
The rounding bottom formation (as applied in this case), predicts that the ATH may be broken at any point between June 20th, 2019 and August 17th, 2019.

Here’s an illustration to reflect all of those ideas:


Conclusion

Whether you believe in the Rounding Bottom Chart Formation is entirely up to you.

At this point, it’s not a verified chart pattern. This piece was simply to provoke some thought and cause some individuals to consider alternative scenarios to the ones that they may have in their heads currently.

If you notice, this theory dictates a price action that actually matches many of the more popular theories about Bitcoin’s price movement that are out there at this point in time.

Thus, it seemed worthwhile to put this theory out there to see if we can actually put a ‘face to the name’, so to speak.

As always, good luck trading! This is definitely not financial advice of any sort and you should be making your own decisions about how you’d like to go about things.


Telegram = t.me/hashfail
Twitter = https://twitter.com/zerononcense
Website = blog.hash.fail
yes total bs bc I have here a screenshot of your telegram that we go to 17k. jeeez stop with this noob and calling bottoms and tops bc who in his right mind calls for a 17k while BAKKT comes on and CME had an important ending. You now nothing how this market works man and you are REKT if you following it all and where are you evidence that you also follow your own advice? Calling bottoms but no proof you follow that in real trade that is no proof at all!!! This all space if full of **** and everyone that says where it will go run as fast as you can bc they have a 50/50 that they are right and when they are right they are calling themselves wise. Jeees grow up.
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hashfail Dianthus
@Dianthus, This idea was written and submitted back in September 2018, and you're here an entire year later criticizing it because the price action did not follow the Fib circles exactly for 12+ months.

You sound ridiculous. Get a grip, troll.
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Comment removed.
Comment removed.
Dianthus Dianthus
Notable support on the 9.5 mark. Jeez man. Watch this one specialy for you https://www.youtube.com/watch?v=Wdq-BbsGABU (not that he is right al the time and it is not being right or wrong but that of yours was just insane.)
Reply
hashfail Dianthus
@Dianthus, Again - this idea was created over a year ago and it accurately forecasted the price action through to the bottom of the bear market two months later and the ensuing price action for the first 6-7 months of 2019.

I genuinely do not have anymore time to waste with you on this and if you're going to keep trolling, I'm just going to block you off of my page.
Reply
hashfail Dianthus
@Dianthus, Also this chart was written to forecast the price action from Sept. 2018 through the end of the bear market, and it did so...Accurately. As of right now, the price is still 100%+ over the bottom that was hit in Nov/Dec 2018. So if I traded this chart (which I didn't) as you assume, I'd be doing excellent (from both shorting Bitcoin and then going long again) and my compound gains (ROI) would be well over 200% at this point in time.

So your comment really doesn't make a lot of sense.
Reply
Dianthus hashfail
@hashfail, wel if you delete my comments bc I had it not of your bottom prediction but you delete the proof asays enough.
Reply
hashfail Dianthus
@Dianthus, I didn't delete anything. I don't control anything on this site except for what my account posts. You're making yourself look bad, not me.
Reply
Dianthus hashfail
@hashfail, No you bc everyone see that here a comment removed. You look really bad now man. Jeezz I thought you where different....
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