#Bitcoin - Sucker's Rally? $BTC

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I published this to my members last weekend.

I HODL a sizable position, more than happy to be wrong or to see an upside move that resumes the parabolic trend.

However, I still feel we have not seen enough pain and consolidation here. The next 60-day Cycle Low is a month away and I see the potential for a huge flush there to mark the bottom of a 4-month bear market.

"Time" will tell!
Comment: Main point of Cycle's are the LOW's (Trough). Less a short term prediction, more about the need to form a deeper low in March than anything else.
Comment: So that Feb 20th $11,785 high, that should be it. If Bitcoin rallies back from and exceed, I have to believe bearish case is OVER!
Any update?
we are almost on the pick let see be alert
+1 Reply
@chefluc, Correct. Time wise, this extension should be done. You would think even in a BULL case, that a $1k drop here to reset for the next run is likely. Overall, if the bear market trend remains dominant, then Bitcoin should not be allowed to move much further. Meaning that at this $11k price range people would be coming out to sell those underwater positions while the price has rebounded.
chefluc BobLoukas
@BobLoukas, for me those 3 large bars green/red/green means it has reach the top..the down trend should be visible this night GMT+1 and will stay for a week .. 10 days with of course waves but like declining tide I am out with $$$ but keep BCC I could'n sell good so I stay with them ..
May be when BTC will be 50000 then I may make some $$ with BCC
+1 Reply
didnt look right now, any drop is coming
@MaGutt, Two things. Happy to be wrong with my stack. But the key take-away is the March Cycle Low, that's the chart's prediction. Until then, this rally could go to the $12,600 level before reversing. But at that point, the Jan 28th highs, I would say the entire short-term bearish narrative is likely wrong. And you would want to take a bullish posture. Let time pass.

Stated on picture given " sucker rally".
Totally agree on that :).
+1 Reply
I think the biggest bullish indicator for BTC being finished with its correction remains that the stock market will likley fall ALOT further, and a fundamentally untied asset such as Bitcoin will be a safe haven for many.
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BobLoukas PRO evanrosshackler
@evanrosshackler, I do not see that correlation in the slightest. But I do not dismiss at all what you say.
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Xatos evanrosshackler
@evanrosshackler, That is absolutely retarded. There is literally NOTHING about crypto that's a safe haven for anyone on the planet. Stop falling for dumb memes.
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