Dear friends,
Here is a new analysis of Bitcoin on the 2 hour chart.
Note that my previous analyses remain perfectly valid because they are on a longer timeframe.
Bitcoin has formed a perfect bear flag which is also the neckline of the main shoulder formation in the chart.
If Bitcoin can break this neckline with good volume and stay above it for at least 3 or more days we will have a valid breakout upwards. This level is also the important .618 fib level which is often strong resistance or support.
I do not expect 100k but possibly a maximum target as indicated in the chart of max 61-63k. If Bitcoin cannot break this neckline then expect another drop towards the bottom of the bearflag.
Important: The price will only reach the max level if it can break the neckline, target 1 en target 2. It is however perfectly possible that BTC bounces on one of these levels and continue to decline. So place your stops at under these levels when a level has been broken!
Things keep happening in the world where normally the stock markets would have collapsed long ago. The reason is simple. Hedge funds and banks pump additional printed dollars into the markets. Money that is borrowed cheaply from the central banks. Expect a violent energy crisis in the world as well as rising raw materials. Hyperinflation and a sharp decrease of the buying power.
The central banks can print as many Dollars and Euros as they want but unfortunately these end up with the banks and hedgefunds who in their turn put this in the markets. However, it is the citizen who suffers the most and who pays the highest price. Hence a decline in purchasing power and consequently lower turnover for companies. In time, the market will not be able to keep up and a sharp correction is inevitable. Do not expect a one-week drop to the bottom and then a bull market again. It is a process that can take a year or even several years. Many traders keep hoping but eventually they will lose their profits. Eventually, the market returns to equilibrium, but by then the cards have been dealt differently. My advice is to zoom out on longer timeframes and not get stuck in small timeframes which contains a lot of noise.
The chart shows the upward trajectory when Bitcoin breaks out on volume and can hold out for a few days. Then a fall back to the neckline to test and higher price targets. The red trajectory if Bitcoin cannot break the neckline.
Good luck trading dear friends.
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Here is a new analysis of Bitcoin on the 2 hour chart.
Note that my previous analyses remain perfectly valid because they are on a longer timeframe.
Bitcoin has formed a perfect bear flag which is also the neckline of the main shoulder formation in the chart.
If Bitcoin can break this neckline with good volume and stay above it for at least 3 or more days we will have a valid breakout upwards. This level is also the important .618 fib level which is often strong resistance or support.
I do not expect 100k but possibly a maximum target as indicated in the chart of max 61-63k. If Bitcoin cannot break this neckline then expect another drop towards the bottom of the bearflag.
Important: The price will only reach the max level if it can break the neckline, target 1 en target 2. It is however perfectly possible that BTC bounces on one of these levels and continue to decline. So place your stops at under these levels when a level has been broken!
Things keep happening in the world where normally the stock markets would have collapsed long ago. The reason is simple. Hedge funds and banks pump additional printed dollars into the markets. Money that is borrowed cheaply from the central banks. Expect a violent energy crisis in the world as well as rising raw materials. Hyperinflation and a sharp decrease of the buying power.
The central banks can print as many Dollars and Euros as they want but unfortunately these end up with the banks and hedgefunds who in their turn put this in the markets. However, it is the citizen who suffers the most and who pays the highest price. Hence a decline in purchasing power and consequently lower turnover for companies. In time, the market will not be able to keep up and a sharp correction is inevitable. Do not expect a one-week drop to the bottom and then a bull market again. It is a process that can take a year or even several years. Many traders keep hoping but eventually they will lose their profits. Eventually, the market returns to equilibrium, but by then the cards have been dealt differently. My advice is to zoom out on longer timeframes and not get stuck in small timeframes which contains a lot of noise.
The chart shows the upward trajectory when Bitcoin breaks out on volume and can hold out for a few days. Then a fall back to the neckline to test and higher price targets. The red trajectory if Bitcoin cannot break the neckline.
Good luck trading dear friends.
Disclaimer This is my view, no advice to buy or sell. Also always do your own research!
--->> Dear friends please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
Comment:
Dear friends,
You see it time after time. The market is heading down. Do not get trapped going long! The US indices are on the brink of a market collapse. The situation with Russia/ UK/ US/ NATO / EU is getting worse by the day!
You see it time after time. The market is heading down. Do not get trapped going long! The US indices are on the brink of a market collapse. The situation with Russia/ UK/ US/ NATO / EU is getting worse by the day!
Comment:
Target hit!
TARGET HIT EXACTLY only a couple of days later ;-) Timing is always the most difficult part.
TARGET HIT EXACTLY only a couple of days later ;-) Timing is always the most difficult part.
Comment:
UPDATE
My older post are still valid.
Happy trading!
My older post are still valid.
Happy trading!
Comment:
Hello friends,
Today is 27 April 2022 just for the record ;-)
If the world situation, and in special the dangerous conflict with Russia and the West, does not change positively and drastically very soon, I expect a steep decline of stocks and cryptos and many other assets.
Everyone can follow the latest developments in the media, but if you look closely, you can see it escalating rapidly now. Indeed, the situation is getting extremely dangerous....
Be very careful with LONG positions because it can go very fast. Use always stops and money management. That is the best advice I can give. Check in a few months whether my prediction was correct.
I wish you all good luck, friends!
Today is 27 April 2022 just for the record ;-)
If the world situation, and in special the dangerous conflict with Russia and the West, does not change positively and drastically very soon, I expect a steep decline of stocks and cryptos and many other assets.
Everyone can follow the latest developments in the media, but if you look closely, you can see it escalating rapidly now. Indeed, the situation is getting extremely dangerous....
Be very careful with LONG positions because it can go very fast. Use always stops and money management. That is the best advice I can give. Check in a few months whether my prediction was correct.
I wish you all good luck, friends!
Comment:
Hi friends,
The older post will still be perfectly valid for targets.
Good luck trading!
The older post will still be perfectly valid for targets.
Good luck trading!
Comment:
UPDATE,
Dear Friends,
Price is now 35k
The trend is still downward. We are seeing a rising Dollar and that is bad for the Cryptos. Interest rates have just been raised another 50 basis points, so the Dollar has become more attractive.
A first target for the Bitcoin is 30k, and then we will see /25k /20k.
I am not even thinking on long positions but instead I practice patience ;-)
Take care friends and good luck!
Dear Friends,
Price is now 35k
The trend is still downward. We are seeing a rising Dollar and that is bad for the Cryptos. Interest rates have just been raised another 50 basis points, so the Dollar has become more attractive.
A first target for the Bitcoin is 30k, and then we will see /25k /20k.
I am not even thinking on long positions but instead I practice patience ;-)
Take care friends and good luck!
Comment:
UPDATE 8-5-2022
My target for Bitcoin is already lowered now to 17,000 USD.
Take care in this market, dear friends!
Check back in some time to see the results!
My target for Bitcoin is already lowered now to 17,000 USD.
Take care in this market, dear friends!
Check back in some time to see the results!
Comment:
UPDATE
Hi Friends,
This idea will not be updated anymore.
Targets now 33/ 30/ 29/ 25/ 20/ 17K.
Please check back in some time to see if I was right, and take care with LONG positions is my best advice!
Happy trading and good luck!
Hi Friends,
This idea will not be updated anymore.
Targets now 33/ 30/ 29/ 25/ 20/ 17K.
Please check back in some time to see if I was right, and take care with LONG positions is my best advice!
Happy trading and good luck!
Comment:
GOAL
1st goal hit, the prize is now 32,500 USD.
On to the next goals! 30/ 29/ 25/ 20/ 17k.
1st goal hit, the prize is now 32,500 USD.
On to the next goals! 30/ 29/ 25/ 20/ 17k.
Comment:
Update
Dear friends,
Our second target hit at 30K.
We will see soon a countermove but not one to go LONG. This is just a technical oversold condition.
Dear friends,
Our second target hit at 30K.
We will see soon a countermove but not one to go LONG. This is just a technical oversold condition.
Comment:
Update
Dear Friends,
Congratulations! We have reached the next Target of 29k. The price has now even dropped to 28390 USD.
The next targets 25/20 and 17k.
We are still getting substantial rebounds in between because of oversold conditions. Perfectly normal! The price is dropping with ups and downs but the downs are bigger then the ups.
Good luck trading!
Dear Friends,
Congratulations! We have reached the next Target of 29k. The price has now even dropped to 28390 USD.
The next targets 25/20 and 17k.
We are still getting substantial rebounds in between because of oversold conditions. Perfectly normal! The price is dropping with ups and downs but the downs are bigger then the ups.
Good luck trading!
Comment:
UPDATE
Friends at this moment the price of Bitcoin us 27,777 USD.
We saw a new down leg and the lowest price was 26,700 USD.
At this moment I expect a pullback to the 36,000 USD area and then BTC will almost sure continue to decline to the next target of 25,000 USD.
I told you for a long time already not to go LONG because of the situation in the world as well as the technical situation in many assets. Still, I see many believe in 100,000 USD and more. It will happen at some point in time, but definitely not now! The trend is down and Bitcoin need to take out much higher levels to turn the tide!
I also expect a further decline in the stock markets!
Do not forget that staying on the sidelines is also trading and making money!
Good luck and happy trading, friends!
Friends at this moment the price of Bitcoin us 27,777 USD.
We saw a new down leg and the lowest price was 26,700 USD.
At this moment I expect a pullback to the 36,000 USD area and then BTC will almost sure continue to decline to the next target of 25,000 USD.
I told you for a long time already not to go LONG because of the situation in the world as well as the technical situation in many assets. Still, I see many believe in 100,000 USD and more. It will happen at some point in time, but definitely not now! The trend is down and Bitcoin need to take out much higher levels to turn the tide!
I also expect a further decline in the stock markets!
Do not forget that staying on the sidelines is also trading and making money!
Good luck and happy trading, friends!
Comment:
UPDATE,
Friends, I see much lower targets for BTC.
17, 15, 12, 10,000 USD. Those targets do not mean the final bottom is set.
Bottoms are only valid if they are confirmed and the trend is reversed.
So unless you are a day or short-term trader, going long will not work as the trend direction is bearish in the current situation. Pullbacks are more signals to go further short. Going short also carries its risks so being on the sidelines is the preferred method in my opinion. Not being into the market is also making money because the price will drop further and you will have money available.
Also pay special attention to not trying to catch a falling knife, otherwise you might be forced to automatically become a long-term holder.
Best of luck and happy trading
Friends, I see much lower targets for BTC.
17, 15, 12, 10,000 USD. Those targets do not mean the final bottom is set.
Bottoms are only valid if they are confirmed and the trend is reversed.
So unless you are a day or short-term trader, going long will not work as the trend direction is bearish in the current situation. Pullbacks are more signals to go further short. Going short also carries its risks so being on the sidelines is the preferred method in my opinion. Not being into the market is also making money because the price will drop further and you will have money available.
Also pay special attention to not trying to catch a falling knife, otherwise you might be forced to automatically become a long-term holder.
Best of luck and happy trading
Comment:
Update
Putin threatens 'tough' response to 'terrorist attacks' on Russia
As expected, friends, the war in Ukraine with Russia is escalating. Do not be fooled to go long. Small rallies in a bear market are just counter moves in a steep downtrend.
It is not even needed to look at the chart to know what is going to happen.
Today, the following happened:
President Vladimir Putin has threatened a “heavy response”, if attacks on Russia continue, hours after his troops launched a massive wave of attacks on cities in Ukraine in response to an attack on the Kerch Bridge linking Russia and Crimea.
In televised remarks, Putin once again blamed Ukraine for the attack on the Kerch Bridge, describing it as an “act of terrorism”.
Russia had today launched long-range missile strikes against Ukraine's energy, military, and communications infrastructure in retaliation for the bridge attack, he said.
Putin threatens 'tough' response to 'terrorist attacks' on Russia
As expected, friends, the war in Ukraine with Russia is escalating. Do not be fooled to go long. Small rallies in a bear market are just counter moves in a steep downtrend.
It is not even needed to look at the chart to know what is going to happen.
Today, the following happened:
President Vladimir Putin has threatened a “heavy response”, if attacks on Russia continue, hours after his troops launched a massive wave of attacks on cities in Ukraine in response to an attack on the Kerch Bridge linking Russia and Crimea.
In televised remarks, Putin once again blamed Ukraine for the attack on the Kerch Bridge, describing it as an “act of terrorism”.
Russia had today launched long-range missile strikes against Ukraine's energy, military, and communications infrastructure in retaliation for the bridge attack, he said.
Dear Friends,
We see a big bearish rising wedge and a small wedge that has already broken out downwards.
Only on a breakout above the big rising wedge with good volume only LONG if the price closes at least 2 or 3 days above it. Even better and less risk is with a breakout above the wedge to wait for a pullback to the upper boundary from the wedge. Then the stop can be placed on a better place with less risk