PurpleCrypto

Bitcoin's Path of Least Resistance

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
When it comes to the forces of nature, the preference is always for the path of least resistance. This is the way in which water flows.

Albeit its attempt to break through the 1-1 Gann trajectory (and failing miserably) in my analysis of Papa Bear's Preferred Trajectory which it has been tracing neatly, one can safely assume that it will have a preference for the same path, aligning with the 1-1 Gann trajectory and very likely keeping on the inner-side of the pink trend line .

What further consolidates this grand plan, especially if we expect Big Brother to continue its downwards correction even if it does rise up briefly, is the path of least resistance offered by the thin Kumo cloud. While it may well attempt to break into the cloud sooner rather than later, I can't imagine it proceeding too far. A previously marked strong support line sits right on the mark with the top of the cloud (the Senkou Span B - black line). This together with the thick Kumo cloud offers an extremely strong zone of support for the next 2 weeks.

Looking back at Papa Bear's history, it took a similar path of least resistance in 2018 where it broke through the Kumo cloud at the thinnest section in its correction phase.

I don't believe Papa Bear will let go of its dominance so easily. After all, it is Queen in the world of crypto. What this path does offer is a little breathing space and the opportunity to gradually accept its momentary fall from grace while we capitalise on the growth of other rising cryptos.


Papa Bear's Future Projection
My Secret Papa Bear Chart
Papa Bear Played out Like a Beautiful Melody
Are We Ready for the Crash?


Likes, comments and shares are always appreciated.

Sayonara.

_____________________________

What goes up must come down.

There's only one person you need to follow when it comes to crypto.
Oct 29
Comment: Bitcoin has clearly hit the level of the 'x' marked on the chart at the level of the lower red zone exactly on point, albeit a little earlier than scheduled.

It is currently travelling between the 2 marked red zones, has yet to successfully break out of the pink upper trend line and still has the strong support of the Senkou Span B in play.

My analysis remains in status quo until and unless it proves otherwise.
Nov 28
Comment: It seems all "to the mooners" have gone silent. :)
Dec 01
Comment: Papa Bear is still very much on the track of least resistance.

Dec 15
Comment: And there we have it...a new weekly candle. Nice.

Jan 13
Comment: This is so perfect I just had to like my own analysis.

I hope y'all been paying attention.

Bye bye 8000's.
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Comments

When I look at what happened at this May, cloud is wide enough, which means that your previous strong support was a strong resistance, and it is wasted. Even though seeing that this indicator did not work well in a very close time interval (only a few months ago), still trusting it is ridiculous...
+1 Reply
@brsrkrt, Being a strong support but not a strong resistance is exactly what makes this an even stronger proposition.

Try waking up on the right side of bed tomorrow.
Reply
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