Every bottom trend line broken, no upper trend lines broken.
What do you think? It amazes me when people are still drawing their arrows pointing upward. I have drawn every possible trend line, including long-term ones dating back to 2008. All the bottom trend lines drawn since the downturn from $65k has been broken except one (circled in red). Zero upper trend lines have been broken. What do YOU think is going to happen? Clearly by the size of Wave 2 from $13k down to $8k, Wave 4 will follow a similar length of journey. (Note: I am using the logarithmic scale, as should all analysts for BTC)
Clearly because we broke the H+S neckline (thick white line), and the H+S pattern is the most reliable pattern (85% accurate) that we are going down to $17k, if ever you were to use your own money. Sure you could bet on the 15%, but I wouldn't.
This $17k area coincides with the end of Wave 4, and several long-term trend lines AND the 786 Fib Retracement level!! It can't be clearer than this.
Wave 1 started at $3k up to $13k. Wave 2 retraced to $8k which is the 786 retracement level. Wave 3 Went from $8k to $65k, and $17k is the 786 Fib retracement level for the end of Wave 4. Again: convergence of patterns. So obvious!
Some joker commented on a past analysis I did and said "must suck to be bearish". No - it must suck to be biased! Stop being in an echo chamber and only listening to analysis that supports your desire. Always listen to analysis that is the opposite of what you want. The most important game is not to lose money, not whether you're bearish or bullish. I am bullish on bitcoin (long-term), but the patterns are the patterns - take your emotions out of it!
Clearly because we broke the H+S neckline (thick white line), and the H+S pattern is the most reliable pattern (85% accurate) that we are going down to $17k, if ever you were to use your own money. Sure you could bet on the 15%, but I wouldn't.
This $17k area coincides with the end of Wave 4, and several long-term trend lines AND the 786 Fib Retracement level!! It can't be clearer than this.
Wave 1 started at $3k up to $13k. Wave 2 retraced to $8k which is the 786 retracement level. Wave 3 Went from $8k to $65k, and $17k is the 786 Fib retracement level for the end of Wave 4. Again: convergence of patterns. So obvious!
Some joker commented on a past analysis I did and said "must suck to be bearish". No - it must suck to be biased! Stop being in an echo chamber and only listening to analysis that supports your desire. Always listen to analysis that is the opposite of what you want. The most important game is not to lose money, not whether you're bearish or bullish. I am bullish on bitcoin (long-term), but the patterns are the patterns - take your emotions out of it!
The only bullish pullback would be at $25k or $22k. But the $17k level is just too strong to ignore. I am saying it how I see it, not how I feel it.