BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Lady and Gentle, I am very happy to meet all you again. This time again is EDUCATION post.

I think 1 post about EDUCATION will bring for you general action of market and better to give you the target price for you play.

We are very successful with many post of my ago and here is the next post I will reveal for you about my research of Bitcoin in Daily chart with Gold in Weekly chart. I find the similar in both and I can draw the price and indicator for Bitcoin in future if it go follow Gold in 2013 - 2016.

The first I need you to reveal my analysis about Gold in past in this post:

So after reading the content is Gold chart, do you see any similar with Bitcoin right now? Done or not?

If not so keep reading in below:

The first thing I find is the TOP and BOTTOM in 2 chart is almost similar.

We have 4 TOP of Gold before Extreme downtrend period time and we have 2 TOP of Bitcoin .

This is the time of accumulation show that: big investor invest in Bitcoin early and they take profit but many small investor they are in "euphoria" so they buy so much and happening accumulation zone with many TOP.

After that when the bear market win, we suddenly see Bitcoin drop strong and build " SYMMETRICAl TRIANGLE PATTERN" to trick people in all this time and I call it is: " EXTREME DOWNTREND PERIOD TIME"

Next you see Gold have 3 lower TOP and 5 lower BOTTOM so maybe it will happen with Bitcoin .
I am not make sure 100% about this, but if it occur so i can caculate what we are standing and the BOTTOM for this long term downtrend and the next target after this downtrend closing.

So where we are standing, look look at the chart:
We are going to the 4th bottom in Extreme downtrend.

So after that we might go to 51xx - 53xx before bounce back to 65xx ( the price of 2nd bottom )

The Bottom of downtrend may in 4xxx and 3xxx.

After that, the target is 10xxx (you need compare and will see the target = 2nd top in Extreme downtrend)

Next is dropping to 63xx ( = 3rd bottom in Extreme downtrend ) and continue slightly going up from here.

Above is the action of Bitcoin if it follow Gold in 2013 - 2016 ( not my opinion so dont forget )

In addition we consider about indicator. These are much critical signal of Bitcoin it will follow Gold .

First is Bitcoin almost in below red cloud of Ichimoku
Second RSI almost under 70 show the investor may not interesting about this market and they forget it in a time.
Third is MACD almost megative.

If the downtrend over you will see a good volume with enough tops and bottoms like Gold chart and both Divergence in RSI and MACD .

Thanks you for reading and good luck GUYS, love you all!

Comment: Short term guys:
Comment: new chart update:
CBOE bitcoin futures end date real close. Look at the manipulation going on.
What do you think about the short squeeze before going to 5k zone?
It seems to me that you are forgetting the most important part of this issue with BTC prices- money, in huge quantities, do not come from the average Joe!
Sensational long term analysis to which we fully agree and very accurate correlation with Gold. On the short term, we target 5,800 on this 1D Head and Shoulders formation:

It just education right? Education and real working life is much different. Hope it's same here. Wykoff chart is more structured. This one comparing gold is too empirical.
@Prodigy8, thank you, it is not recommend or direction. Just compare with other market that happen in history!
Very interesting charts. The low of 4700 compares very good with Tone Vays minimum low of 4925 he is predicting for Bitcoin. I will be following this idea closely. Thank you @xuanhaimmoer
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out