ABSOLUTELY SCRUMPTIOUS Bitcoin Price and Time Analysis
Hey guys! Happy mid-December and welcome to the start of another exciting week in crypto. I hope these times of wonderful volatility have been good to you all. I promised you guys a Bitcoin analysis a few days ago over on my highly successful ETH chart that I'll link below, but I didn't get round to it because I didn't really have anything to say which hadn't already been said by some of the other great analysts here on TV. Now we've seen a nice move upwards, I think I got something a little different for you guys.
If I can stop you getting distracted by the pretty colours for a moment, I have a quick explanation of why I'm analysing the chart in this way. Many people overlook that time plays as much into technical analysis as does the price. Look at any price chart and it's got 2 axis, not just price. The reason I'm telling you this is that the top of this bull flag is a major trendline from the past month. Of course time relates to this, otherwise it could have hit that level in the past and not been resistance, as those lines wouldn't have lined up! Follow that dotted line with your finger... Yes, you see, it hits it exactly and makes a triangle shape plotted by price and time. Because many people are looking at this trendline over a decent amount of time, I think we can take this one step further and factor in the time taken with our fibonacci lines.
Now, I love fibonacci and I noticed that this bull flag we've currently formed has a very curious shape, and how it's noticeably different for the different exchanges. But I noticed something very interesting on this bitfinex chart when you connect the lines to the top of this bull flag using the circle fibonacci tool.
What do you notice? Firstly, this chart looks absolutely beautiful and I want to eat it like a whole load of flavours of Christmas-y ice cream that have come to party over at Bitcoin's house. But secondly, the circles overlap with a lot of the key levels that many traders are currently talking about, and it might give us some insight to the timeframe if/when we reach them. I've highlighted these levels in yellow on the chart. One could imagine an Elliot wave type structure forming through these points at key levels that many traders are waiting for. This isn't to show that it must hit these exact levels, but just an idea to show a possibility of WHEN they might be hit. I didn't think I'd need to explain the levels simply because it seems like everyone is eyeing them for bitcoin at the moment and you need to give the time piece of the chart some love as well <3
Let's see where this gets us! I'll be studying this type of analysis in the future so stay tuned by following my page because I have much more to come. If you saw my ETH analysis you'll know that it's been going really well for these more radical kinds of analysis which nobody else is touching. So you should follow me on Tradingview and hit like if you want to see more. I'll be updating this chart often with some new input and to see how this develops because I think this is a very interesting and underused method.
Enjoy the holidays!
-Etch
ETH trade:
XLM trade:
If I can stop you getting distracted by the pretty colours for a moment, I have a quick explanation of why I'm analysing the chart in this way. Many people overlook that time plays as much into technical analysis as does the price. Look at any price chart and it's got 2 axis, not just price. The reason I'm telling you this is that the top of this bull flag is a major trendline from the past month. Of course time relates to this, otherwise it could have hit that level in the past and not been resistance, as those lines wouldn't have lined up! Follow that dotted line with your finger... Yes, you see, it hits it exactly and makes a triangle shape plotted by price and time. Because many people are looking at this trendline over a decent amount of time, I think we can take this one step further and factor in the time taken with our fibonacci lines.
Now, I love fibonacci and I noticed that this bull flag we've currently formed has a very curious shape, and how it's noticeably different for the different exchanges. But I noticed something very interesting on this bitfinex chart when you connect the lines to the top of this bull flag using the circle fibonacci tool.
What do you notice? Firstly, this chart looks absolutely beautiful and I want to eat it like a whole load of flavours of Christmas-y ice cream that have come to party over at Bitcoin's house. But secondly, the circles overlap with a lot of the key levels that many traders are currently talking about, and it might give us some insight to the timeframe if/when we reach them. I've highlighted these levels in yellow on the chart. One could imagine an Elliot wave type structure forming through these points at key levels that many traders are waiting for. This isn't to show that it must hit these exact levels, but just an idea to show a possibility of WHEN they might be hit. I didn't think I'd need to explain the levels simply because it seems like everyone is eyeing them for bitcoin at the moment and you need to give the time piece of the chart some love as well <3
Let's see where this gets us! I'll be studying this type of analysis in the future so stay tuned by following my page because I have much more to come. If you saw my ETH analysis you'll know that it's been going really well for these more radical kinds of analysis which nobody else is touching. So you should follow me on Tradingview and hit like if you want to see more. I'll be updating this chart often with some new input and to see how this develops because I think this is a very interesting and underused method.
Enjoy the holidays!
-Etch
ETH trade:
Comment:
Note: Even if we complete those big C and E wave, we'll just have a lower high; I see this move as a correction and continuation of the downtrend. A higher high on this chart might convince me otherwise but just keep in mind that below the previous highs is still bearish overall :)
Comment:
Comment:
First of all, thank you for all of the likes so far! It motivates me to keep trying.
Anyway, this analysis seems to be going pretty well. The first circular fibonacci ice cream has acted as tasty support a couple of times now. Oh, and you'll have to excuse my sudden change in colour theme as I wanted to match what I've been doing on my latest ETH chart, and I think it's much more pleasing, so sorry about that!
Bear with me. I've overlayed the ETH price on to this chart to make things easier for you. You can see it's been following pretty much identically for the last couple of days. I've highlighted this already over at my new ETH chart as it's a bit more important over there but I actually first noticed this from BTC so I need to post it here too. That's the blue circle around a level where it dropped below the support for a bit, which I believe to be a bear trap region. Anywhere, here's the other chart I'm talking about if you want to see in more detail too.
` `
Anyway, this analysis seems to be going pretty well. The first circular fibonacci ice cream has acted as tasty support a couple of times now. Oh, and you'll have to excuse my sudden change in colour theme as I wanted to match what I've been doing on my latest ETH chart, and I think it's much more pleasing, so sorry about that!
Bear with me. I've overlayed the ETH price on to this chart to make things easier for you. You can see it's been following pretty much identically for the last couple of days. I've highlighted this already over at my new ETH chart as it's a bit more important over there but I actually first noticed this from BTC so I need to post it here too. That's the blue circle around a level where it dropped below the support for a bit, which I believe to be a bear trap region. Anywhere, here's the other chart I'm talking about if you want to see in more detail too.
` `
Comment:
Oh, and alts all seem to be doing the exact same thing.
Trade closed: target reached:
Well that's that. No D wave coming down. We already had an ABCDE structure as I outlined in my ETH analysis so this one was actually not valid. Sorry! Still, it's at the top ice cream scoop now so we'll see what happens next.
Trade active:
Opened a new long position. Looks like we are making another one of those bull flags with a bear trapped region.
Comment:
If you haven't seen from my alt updates, I've been on holiday for the past couple of days in a resort kind of thing. But I've still been updating my alt analyses from mobile in a kind of improvised way that's not ideal. The tradingview app kind of works, but its fiddly and you can't publish charts directly and yet somehow I found a way by taking a screenshot on my phone, uploading to Imgur and then posting here from browser. Not quite as simple but the important thing is it works! Anyway looks like Bitcoin made the same kind of inverse head and shoulders as some of my alt predictions. Targets could be quite high on this move and the next so look out this holiday season! I believe the elites can manipulate the markets more easily in this time and this is not just in crypto. It's because people don't want to trade so much because they are celebrating Christmas with their familes and friends (like me) and so there is less volume in the books to shift price in one direction. And of course the elites who are manipulating this market don't celebrate Christmas or even take time off. Look at the big players in crypto who we've heard about entering the market in the past year.
George Soros? You think he is celebrating Christmas with his family right now? No, he is Jewish and he would celebrate Hanukka anyway so trick question. The point is, him and others like him are doing this.
Actually I wrote this yesterday but it didn't post, so shame because it would have been pretty prophetic for today.
George Soros? You think he is celebrating Christmas with his family right now? No, he is Jewish and he would celebrate Hanukka anyway so trick question. The point is, him and others like him are doing this.
Actually I wrote this yesterday but it didn't post, so shame because it would have been pretty prophetic for today.
Trade closed manually:
and about my long position I closed already in profit as I realised what was happening. It was also just 3 days after the full moon but maybe it has nothing to do with it.
Have a good Christmas and trade safe.
Sminem bless
Have a good Christmas and trade safe.
Sminem bless
