Bad news for bears! I have left myself a back door open in my last posts. I said: bitcoin could still go down to 24K. Also because we still have an open CME gap there. Given this chart and the findings from it, I now make a clear statement:
We had the bottom at 31K!
That's it imo. From now on, it should go up. I am therefore strongly bullish. Accordingly, our halving top could be at 230K in November or December.
Let me briefly explain the chart: Everyone knows Bitcoin has a strong 0.5 tendency at Fib. The Fib channel shows us where the 0.5 was last time. The formation matches with the current one. So current point could be 0.5, too. This also matches with the trendlines which we can draw from the halving tops to the current dips. And ... If we count waves then we would be at a 4 on the way to 5. This is also a strong bullish signs imo.
Btw: I changed my TV Name from btcinvests to BTCINVESTING, nothing else changes. :-)
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Let's see what happens. Happy trading. :-)
BTCINVESTING
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My Post Apr 18, 2021
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My Post Nov 19, 2020
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My Post Apr 15, 2019 (2 year ago!). I was one of the first btw. ;-)
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Another bad news for bears!
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Re-published... I updated timing: Another bad news for bears!
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frear and greed index at 13. :-)
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Latin America is leading the way for Bitcoin: First... El Salvador. Then... Paraguay. Next... Brazil. :-)
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why you should buy the dip ... new post :-)
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-- Breaking -- Germany's largest savings bank are working on a crypto project. They plan to make it possible to buy/sell and HODL Bitcoin & Alts. Lets see ... here is my current chart ... --
I'm afraid you are calling bottom too quickly. It can go up, no argument there, but it will be temporary.
30k will be breached, but not when you are expecting it. It will happen once you don't even think it is possible anymore.
BTCINVESTING
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@RamzaBehoulve, imo we saw the bottom at 31. lets see. if we ll see 25k, that would we good to buy more btc cheap. i remember 2017 as i posted this: chart below. most of the people expected one more down. but as we know today it went straight up. maybe we see the same this time. nobody have a cristalball, we make only ta. and the things could change ofc. thx for your good comment. i appreciate it. :-)
@RamzaBehoulve, i agree, most of the people including whales are waiting for below 25k to get in so most probably we are gonna see below 30k.
metaloph1l
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@ehsanbarak, That depends entirely on sentiment. If there's news that the us govt decides to heavily regulate btc or that tether is a fraud, that sentiment would change rather quickly. There's a reason people don't buy dips like that. It's because the situation seems to worsen drastically.
Phyloader
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@ehsanbarak, Whales lol? The whales are whales and therefore are already holding a whale amount of bitcoin. Sure they mighta sold a chunk at 55K but I guarantee they have a bought a good percentage of that back already.
@RamzaBehoulve, shorts been trading with other shorts lately. 30k has been defended what 10x now, not gonna make it below 30k. i hope the shorts keep shorting though, its good fuel.
FewThoughts
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1BTC = 1BTC... if you must, BTC top this cycle is $175 to 200K. Enjoy
30k will be breached, but not when you are expecting it. It will happen once you don't even think it is possible anymore.