ATH Retest Prediction: December 15th Pimento of the Olive
Leaving this idea neutral as it is just a prediction, I have had this crazy idea for awhile now ever since BTC had its bear market low (AKA swing low) on December 15th of 2018. That was when I realized at the same time that December 15th 2017 was The last ATH high (AKA Swing High) as well. What if the next swing high is also on December 15h how wild would that be I thought. I originally anticipated the next swing High / ATH Retest might synchronitiously occur on December 15th of 2019.....it wasn't until around June of 2019 that I realized it wasn't gonna happen in 2018 and switched my projection to December 15th of this year. I've been watching in amazement the past few months as BTC has finally found the pendulum's momentum shifting back in it's favor now and has come very very close to retesting the ATH already on December 1st. In fact, it came so close to retesting the ATH... on several exchanges it did indeed cross above the ATH for those specific exchanges...however, The real all time high is 20k which was hit on Gemini during the last bull run ( and is also why I am doing TA currently on the Gemini exchange chart). If we wanted to be technical about it, BTC already reached a new ath a few months back in countries where there is already massive hyperinflation (Turkey, Brazil, Venezuela etc) but I wasn't including those outliers when I made my December 15th prediction. It's sad to see countries ravaged by such hyper inflation but so far I've been thinking what has happened there has made an extremely reliable precursor for what the price action would soon start to do in every other country as well. They will likely continue to be good indicators of what the price will soon reach everywhere else. Anyways I'm really astounded at how the closer and closer we get to December 15th the realer and realer my prediction comes to being validated here as you can see i tried to draw a bulls eye right on the spot where the ATH horizontal trendline at 20k reaches December 15h 2020...however the bullseye looks more like a pimento stuffed olive so in stead of a bulls eye we're going to call it a pimento. My guess is we are potentially in a falling wedge that will break out just in time to bounce back up and actually test 20k this next time before some form of media FUD occurs that coincides with the price simultaneously being rejected down hard from the 20k horizontal creating a bart that soon turns into a head and shoulders pattern that sends us down for our first real correction of the bull market. If we're lucky after a parabolic explosion like we've had all year we will get a 30-42% correction before the next big leg up....if we're really lucky we could get a 50-60% correction but not nearly as probable. Of course, we could still continue up from here as well...we don't have to start forming a gigantic handle of a monthly chart potential cup and handle pattern. We still have a monthly symmetrical triangle and a double bottom pattern in play that can both take us to super high price levels...so we could totally just continue up from here...but somehow I have a feeling we may see another cup and handle and we may want to pull back the arrow here to ensure we shoot far higher than we would if we just kept going up from here. NOT FINANCIAL ADVICE but for my opinion just follow the purple line. Thanks for reading.
Comment:
the 15th has come and gone and we are still just below the ath retest...so while the day of the 15th may not work out...the weekly candle can still hit my prediction.
Comment:
Target reached 1 day short but still on the same weekly, 2 day, and 3 day candles...however we have now created a new ath exciting indeed but so far I'm not yet willing to call this the official break above the cup and handle pattern. I think it could reach 21250 or so ad then still find a way to fall back under the rimline of the cup and handle...so for now I'm not convinced that we will jsut keep going up but it certainly looks like that's what it wants to do at the moment.
Comment:
upon looking back at the 2017 high it turns out that it occurred on December 17th 2017 so my speculation that we would have our next swing high on the same exact day as well as retest the ath ended up pretty much coming to fruition....I am amazed but also thinking that we may see a temporary blow off top here followed by a significant correction before too long......the one factor that could make corrections not as steep this bull run as the 2017 bull run is if during the 2017 bull run the DXY was not crashing like it is this year.