Hunting for the bottom of this bitcoin bear market.
Fairly simple here. I made a fib channel with weekly candle closes over the last 6 years. You'll notice I pretty much ignore wicks and daily candle closes most of the time. That's because weekly candle closes are so much more important.
Anyways. I think we are repeating the box in the middle right now. I have 3 color coded fractals that I'm considering as a possibility for how we get to each of those 3 prices. 16,2k. 9,5k. 3k.
A lot of people think we are going to crash to 16,200$ and start a bullrun from there.
Sure. It really could happen. I'm not being sarcastic. That might be the bottom. It lines us up with the the bullish gartley trendline that pulled us out of 3k in 2019.
16,200$ could also be the capitulation point. If it DOES fall below 16,200$... notice it's right at the midpoint of that fib channel. So if 16,200 breaks... we're going to cascade down very hard.
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The point of control for the volume profile in this bull market is 9500$. I give strong possiblity that we fall to 9500$.
I also say to don't discredit the possibility that we fall all the way to the bottom of this fib channel at around 3k. This would be a double bottom. This is insanely bullish if 3k happens and it holds. Just for the record.
I think that January-April of 2022 will bring a fall into one of these areas.
16,200 is the most bullish of them all.
9,500$ is pretty solid based on the volume profile's point of control. Like, super solid actually. Crazy solid. 9,500$ is the price I think it falls to at the moment.
3k again... at the bottom of that fib channel? A little scare for me honestly. I'm not calling 3k very likely, but I will keep it in consideration at all times.
Those are the 3 prices I am giving most credit to right now. I'll have a better idea which bottom happens after we make our upcoming bottom in the 22-28k area.
Which do you think we fall to? Or do you think we are still in a bull market?
Anyways. I think we are repeating the box in the middle right now. I have 3 color coded fractals that I'm considering as a possibility for how we get to each of those 3 prices. 16,2k. 9,5k. 3k.
A lot of people think we are going to crash to 16,200$ and start a bullrun from there.
Sure. It really could happen. I'm not being sarcastic. That might be the bottom. It lines us up with the the bullish gartley trendline that pulled us out of 3k in 2019.
16,200$ could also be the capitulation point. If it DOES fall below 16,200$... notice it's right at the midpoint of that fib channel. So if 16,200 breaks... we're going to cascade down very hard.
________________
________________
________________
The point of control for the volume profile in this bull market is 9500$. I give strong possiblity that we fall to 9500$.
I also say to don't discredit the possibility that we fall all the way to the bottom of this fib channel at around 3k. This would be a double bottom. This is insanely bullish if 3k happens and it holds. Just for the record.
I think that January-April of 2022 will bring a fall into one of these areas.
16,200 is the most bullish of them all.
9,500$ is pretty solid based on the volume profile's point of control. Like, super solid actually. Crazy solid. 9,500$ is the price I think it falls to at the moment.
3k again... at the bottom of that fib channel? A little scare for me honestly. I'm not calling 3k very likely, but I will keep it in consideration at all times.
Those are the 3 prices I am giving most credit to right now. I'll have a better idea which bottom happens after we make our upcoming bottom in the 22-28k area.
Which do you think we fall to? Or do you think we are still in a bull market?
90% of people lose money in crypto. You can't follow the herd and win. Never forget this.