Bitcoin went to the Moon with Dec '17 top. Then it corrected 88.6% on the Fibonacci Retracement with Dec '18 bottom.
After that it went to Mars and hit the tops again in Nov '21. It was a 2000% gain.
What can you tell from this? Percentage-wise, Correction is lower than the gain. So, the Dominant Trend for BTCUSD is UP!
OK, back to Earth. Let's gather fuel and power-up the rocket. Time to go Interstellar.
Before I go into the technical stuff, allow me to keep things simple for you.
I took the liberty and measured the BTC Cycles. But you don't need to worry about that, just follow my lead!
I used a fancy tool called Fibonacci Time Zones. This tells me roughly when the next Bullish Cycle for Bitcoin will start. We are on the 5th Fibonacci Summation milestone, and another 2000% gain is destined to commence.
When? Early '23 , like all other Cryptocurrencies.
What's the level? My ultimate levels are: 10K & 7.5K . I will buy more there.
I will HODL for the long-term because I know it's a waiting game.
Now you have what you came for: when & where. You can go ahead and open the next idea. :) Thank you and you're welcome.
But if you capable of digesting what's to come below, then I put my hat down...
Investor Psychology - Not Just Another Crypto Air Pocket
The big market story of November 2022 was the sudden “epic unraveling” of the cryptocurrency exchange FTX. It fits a long history of post-peak reversals among exchanges. The speed and depth of FTX’s collapse are vitally important, as it foreshadows the character of the coming third-wave decline in stocks. Many observers have drawn comparisons to other infamous corporate frauds in the wake of the dot-com mania peak in 2000 and the housing bubble peak of 2006-2007. The two most compelling comparisons are to Enron, an energy trading company that went bankrupt in December 2001, and Bernard L. Madoff Investment Securities, which dissolved in December 2008 when its founder Bernie Madoff admitted to fraudulently misrepresenting client returns for at least 17 years. Like FTX, both firms were trading enterprises that were considered modern-day wonders of financial engineering. All three were built around leaders who burnished reputations as clever financiers through the peak of their respective bull markets. At a gain of more than 374%, Enron stock’s three-year rise into September 2000 reflected this status. By the standard of the final Grand Supercycle highs of 2021-2022, however, it was a piker. The bottom two graphs on the chart show the surge in the price of tokens issued byFTX and Crypto.com. In less than a year, they rose more than 2200% and 1570%[b/], respectively.
read more...
Lionheart-EWA
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@ferGOD, Good is not the word for this idea, it's fantastic. Thank you for posting it. Like the style!
surfs
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do you think it will hold support at 11k? and not meet idealistic 10k? and 7.5K is ?
Lionheart-EWA
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@surfs Technically it should. However, we'll need to see the patterns there. IMO, it can drop below easily, but it's a waiting game at this stage. 7.5K would be an ideal bottom. I will update this idea with more details on lower time-frames. Thanks for the comment, much appreciated my fellow surfer.
The big market story of November 2022 was the sudden “epic unraveling” of the cryptocurrency exchange FTX. It fits a long history of post-peak reversals among exchanges. The speed and depth of FTX’s collapse are vitally important, as it foreshadows the character of the coming third-wave decline in stocks. Many observers have drawn comparisons to other infamous corporate frauds in the wake of the dot-com mania peak in 2000 and the housing bubble peak of 2006-2007. The two most compelling comparisons are to Enron, an energy trading company that went bankrupt in December 2001, and Bernard L. Madoff Investment Securities, which dissolved in December 2008 when its founder Bernie Madoff admitted to fraudulently misrepresenting client returns for at least 17 years. Like FTX, both firms were trading enterprises that were considered modern-day wonders of financial engineering. All three were built around leaders who burnished reputations as clever financiers through the peak of their respective bull markets. At a gain of more than 374%, Enron stock’s three-year rise into September 2000 reflected this status. By the standard of the final Grand Supercycle highs of 2021-2022, however, it was a piker. The bottom two graphs on the chart show the surge in the price of tokens issued by FTX and Crypto.com. In less than a year, they rose more than 2200% and 1570%[b/], respectively.
read more...