I anticipate we TEST $6,149 by May 8th or 9th; then some shorts MIGHT kick in to send us back down no lower than $5,423 in my opinion. Then we likely stay sideways until the third or fourth week of May; possibly the first week of June, 2019; where we begin our LiteCoin Block Halving Pump. to either $7,820 or $9,222. We should then consolidate to find $5,500 to $6,150 as the bottom of a new higher trading range for the purpose of Re-Accumulation.
If you have been long at sub $5,500, I would recommend staying long with a proper stop loss or stop limit as a safe-guard to protect against substantial loss if my "opinion" should be incorrect.
The chart below is the History of Bitcoin Using Wyckoff Method:
Appreciate the support, Followers!
Stay Awesome!
; )
Comment
⋅
This chart was posted approximately 19 hours ago in my previous CHART publication:
This chart was provided one hour ago in the same publication:
Comment
⋅
We're in the process of making the largest inverse head and shoulders you've ever seen in your life:
If you want to see what occurred with Litecoin Price and Bitcoin Price during the time PRIOR TO the Litecoin Block Halving Event in 2015, Have a look here:
Comment
⋅
Look to the right to see the starting price for each PRIOR to the BEGINNING of the pump; the new high price at the PEAK of the pump and the bottom price AFTER the pump.
Comment
⋅
WHY is the Litecoin Block Halving EVENT so significant? The amount of Litecoins mined in each block will be cut in half. Which means the SUPPLY WILL BE CUT IN HALF. Which means this may be the last time to accumulate Litecoin at this low of prices.
It is my opinion most all other cryptocurrencies will pump along with Litecoin PRIOR TO the block halving EVENT. I have a hard time seeing Litecoin pumping all by itself. I've also shown how the Gray ENERGY in the 2-Week Time Frame has PLENTY of time to come down to the 50% level in the video of this publication. I've also pointed out we may see the peak of our pump on the 2-Week Candle beginning July 8 or July 22, 2019.
Since the Litecoin Block Halving will commence approximately a week earlier than it did in 2015, we might estimate a similar date to reach the peak of the Litecoin Block Halving Pump. That "peak" was July 10, 2015 for Litecoin and July 12, 2015 for Bitcoin. So, the Gray ENERGY may reach the 50% level in the 2-Week time frame on the 2-Week candle beginning July 8 instead of July 22, 2019. Which see:
Very good analysis! I agree, especially because so many people are bearish now, and always draw the 2015 fractal comparison. That makes me agree with you, that it will pump unexpectedly high. Imho, the normal indicators are useless at the moment, such as bull/bear divergence, stoch RSI etc. BTC is just in beast mode and just wants to continue pumping to at least 7500.
WyckoffMode
⋅
@FlaviusTodorius67,
Thanks for taking the time to checkout my TA and commenting, FlaviusTodorius67!
Yes, I agree in regards to "normal" indicators being "useless at the moment." I've learned a great deal this particular run-up. It continues its bullish trend despite the negative news from Tether with the NY Attorney General Investigation and Binance Exchange hack. Can't help but wonder if these recent events were orchestrated to create FUD in an effort to create "doubt" about cryptocurrencies in general to get those who are new to the space to sell their coins.
I have my suspicions in regards to central banks around the world creating money out of thin air and creating accounts in many cryptocurrency exchanges in an effort to buy up all the legitimate crypto currencies they can in an effort to quill the threat cryptocurrencies present to their "system." Even large banks can create money out of thin air for this purpose by the use of "fractional reserve banking" to buy cryptocurrency on exchanges. It's for that reason and several other reasons which bring me to the conclusion most people should HODL 70 to 80 percent of their crypto currencies for a while for "investment purposes" and trade only 20 to 30 percent of the rest till at least the end of 2021.
By end of 2021 the world will likely be contemplating a reset with debt jubilee in an effort to revitalize the failing world economy and financial infrastructure. The majority of countries and its citizens are in more debt than ever before. A debt jubilee will be the only way to provide the kickstart the world economy will need to suppress upheaval from citizens who are in dire straits and doubtful of their Government's and Financial institutions ability to bring "stability" back to the world. I only hope cryptocurrencies will play an important role in that financial revitalization. We may have to wait until the end of 2025 before cryptocurrencies are more widely accepted/trusted by the masses as one country after another adopts DE-Centralized cryptocurrencies. However, some countries will likely continue with CENTRALIZED cryptocurrencies in an effort to control its citizens.
It's because of the reasons mentioned above and several other reasons which lead me to believe we may likely see a more robust bull trend in the cryptocurrency markets unlike most (who are new to the space) have seen before. We will likely continue to see repeated bouts of bull trends on low volume as time progresses. The main reason I'm saying "...on low volume" is because fewer people will be willing and/or afraid to sell the cryptocurrencies they have as the price continues to rise over time. We also have more exchanges than ever before and even more coming online. Even "institutional" exchanges will be coming online soon.
I know what I'm about to show may be hard to believe. But I think it's quite possible for us to approach $300,000 by end of 2021.
tradingview.com/x/ED0Gn
SebastianofMoon
⋅
@ProwdClown, Thanks for the very long and detailed reply and explanation :)
I agree by the way that 300k is possible by the end of 2021, because the resistance line/curve from the bullmarket ATHs (31 in 2011, 1200 in 2013 and 20k in 2017), leads to a strong resistance between 100k and 300k. So for me 100k would be the lower end of the ATH range, 300k the upper range, but certainly possible.
Yes, decentralized crypto is the future, and I am quite confident that bitcoin will become the new digital gold standard when acceptance and adoption has continued to grow, probably in 5-10 years.