Bitcoin /USD rate (December 2021)
Continuing on my fractal idea, I have been watching for something like this indicated by my red scribbles since Dec 26th. It looks like an alternation but still having a roughly similar overall general shape and price action, levels achieved etc. I adjusted the fractal from the last chart on December 21st and didn’t update but was looking for any type of correlation, this is what I see so far since all my adjustments and the additional alternation idea I had. $43k-44k seems likely right now as a place to find support.
I am not adjusting my Fibonacci, I believe in it at this point for larger time frames, maybe not quite as perfect on this 1 hour time frame.
To be explicit: I believe peaks and lows that will be achieved from now until mid/late-2023 are:
Low: $6,580 (+-25%)
High: $75,320 (+-7%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin at the moment. I don’t want to change my mind which sounds crazy right now.
Previous charts I've built coming to this conclusion:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
Continuing on my fractal idea, I have been watching for something like this indicated by my red scribbles since Dec 26th. It looks like an alternation but still having a roughly similar overall general shape and price action, levels achieved etc. I adjusted the fractal from the last chart on December 21st and didn’t update but was looking for any type of correlation, this is what I see so far since all my adjustments and the additional alternation idea I had. $43k-44k seems likely right now as a place to find support.
I am not adjusting my Fibonacci, I believe in it at this point for larger time frames, maybe not quite as perfect on this 1 hour time frame.
To be explicit: I believe peaks and lows that will be achieved from now until mid/late-2023 are:
Low: $6,580 (+-25%)
High: $75,320 (+-7%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin at the moment. I don’t want to change my mind which sounds crazy right now.
Previous charts I've built coming to this conclusion:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
