The Big Crash - $2000

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The question now is: Is this a descending triangle or not?

In my opinion it is a descending triangle and we just did not notice that... I have been bearish for a long time and just wait for the drop but he did not come.

Despite the many comparisons, I have been looking for reasons why we should have a bull run.
After the $10,000 breakout I really wondered if I was not wrong with my assessments.
But now it all makes sense to me. We probably test only the triangle before it comes to a big crash.

The most obvious things you'll never see and I have luckily found it now.

It would also fit with this comparison of Bitcoin 2014 because if you follow the chart, then bitcoin would have to fall in the next time:

Indicators are also showing bearish signs after testing the descending triangle . Volume is very low.

Now I am ready for more. Thank me later. I stay bearish and here you have your answer why. Technical analysis also works at Bitcoin .

Road to $2000. I will keep you up to date.
Comment: Technical analysis is a kind of puzzle and it can change any time the opinion.

Here you have the reason why.
Comment: In the coming hours/days we will see if I was right or not.
Comment: Hooefully we touch $10500-10800 (triangle bottom) as fast as we can. Too overbought right now for no reason.
Comment: User ColonelCrypto: "Do you have any idea how much buy volume and support levels would have to be obliterated to get to that level? Something like a Mt Gox event would have to happen to create that amount of panic selling. Simple market sentiment and psychology would get your answer. Ask the audience. 8k are people buying or selling?.... 6k?..... 5k? the buy walls will be monstrous. 2k is a dream imo, but fair play for sticking your neck out. If you can back it up with actual trades even more impressive. Shorting BTC to 2k haha, your balls would be so big you’d need a wheelbarrow to carry them!"

That's exactly what many thought before, and in the end we fell without FUD from $20,000 to $6,000, which all the blinded people did not accept.

For the coming time this is my prediction. For now wait for a correction. Wave 3 can go up to 11600 but I would not risk that. At the 23rd of february I expect a hard drop because every coin I have analyzed now will have an uptrend until this date.
Comment: I am still bearish.
Comment: If our 4th wave only corrects to around 11000 then the 5th wave will go to around $11350 be aware.

Have fun.
Comment: Check it out for more information:

Comment: Here you have your first drop. Next one coming -5% again.
Comment: Next targets: 9700 - if we break that 9100
Comment: To all holders until $12000: Now have fun losing your whole profits within some days.

We have 4 supports until $4000 lets go and 5 until $2000
Comment: New idea:
Comment: You are currently all blaming me for my chart being wrong but have you already met your targets of 12000/14000? Keep Calm. My idea is still valid.

Related Ideas

Yeah 2k yeah... sure...
Nice crash
seems like someone got burned and is frustrated right now
Keep your ego in check and don't respond to people hating on you. Makes you look bad.
+3 Reply
I think you should change the name to "A BIG FAIL!!!"
+11 Reply
If it breaks the 12000 level, it won't go down below that, and the next resistance would be 14k at least. If not we could see a double bottom at the 6k level,and bounce back up again!
I do believe in you! I'm not short but not long either. At this point, it is very difficult to know what is happening. but thank you very much for your point of view. RSI to 1 week we are still in bearish trend.
That's some refreshing TA you got here ;) 2K that would reaaaaally shake things up for sure.

Since its cryptocurrency nothing really surprises me anymore, so 2K could be a possibility but honestly I really don't see BTC go down that low. Since we also got Chinese New Year behind us now I hope the market can shake its usual January / February blues of and move on.

However that won't mean I think it will be a walk in the park, we will certainly see some retractions and corrections along the way, such as the ABC correction I've projected in my most recent Bitcoin TA:

+2 Reply
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