Bitcoin to 36k - Compelling Analysis with Targets
Greetings!
Let's begin with a neat observation. Notice how the 2017 bull-run fractal looks nearly identical to its .618 run-up fractal in 2018, they are like mirror copies of each other on different scales. Now, take a look at the 2020 bull-run fractal and compare to the .618 run-up fractal we had in mid-2021. Same thing, nearly identical. It's as if we repeated the 2021 run-up on a smaller scale.
As such, I'm expecting the behavior now to mirror the behavior we had back in may vey closely.
Looking at the structure a bit closer, if you compare the levels circled in yellow, it reveals a potential picture of how far down we've gone when comparing the fractal waves. Based on where we are at, we have not hit the bottom. In July when we bounced, it was from the 3.618 macro fib level which consequently was the bottom of the left wave structure circled in yellow. In the same token, I expect the 5.618 macro Fibonacci level at 36489 to be the bottom. This aligns very nicely with historical price action patterns.
In the chart posted above, we have begun ranging in a triangular structure. The yellow lines are the .618s of the various levels at or above the triangle. At or near when the yellow lines meet the triangle's hypotenuse or upper descending trendline, we should expect a drop, as we can see historically. Matching up those on the chart yields a couple useful dates to expect this.
We are currently in-between a cluster of local an macro fibs which is restricting the price action volatility as can be observed by how well the price action is conforming to the fib lines.
In explanation of the predicted price path, first, its taken from price action we saw in May. I believe the next bounce off the bottom trendline will be a bullish bounce with a fake-out to the upside like we also saw back then too. Supporting this idea, let's look at the momentum waves for the daily chart.
We still have some way down to go, same for the 12hr as well, but we are definitely close to a green dot on the 12hr. Because of this, I believe we'll see a 12hr bullish trend after the next bounce from the bottom of the structure which will breakout up to the 7.618 fib level. At this point, I'm expecting a dump to the next leg down. We still have red dots on the 3d and weekly for bitcoin. I believe it may take up to a week for us to see the 5.618 fib level at 36k. At this point, we will have significant bullish divergence and should expect the bull-run bounce kicking off our parabolic run.
Let's begin with a neat observation. Notice how the 2017 bull-run fractal looks nearly identical to its .618 run-up fractal in 2018, they are like mirror copies of each other on different scales. Now, take a look at the 2020 bull-run fractal and compare to the .618 run-up fractal we had in mid-2021. Same thing, nearly identical. It's as if we repeated the 2021 run-up on a smaller scale.
As such, I'm expecting the behavior now to mirror the behavior we had back in may vey closely.
Looking at the structure a bit closer, if you compare the levels circled in yellow, it reveals a potential picture of how far down we've gone when comparing the fractal waves. Based on where we are at, we have not hit the bottom. In July when we bounced, it was from the 3.618 macro fib level which consequently was the bottom of the left wave structure circled in yellow. In the same token, I expect the 5.618 macro Fibonacci level at 36489 to be the bottom. This aligns very nicely with historical price action patterns.
In the chart posted above, we have begun ranging in a triangular structure. The yellow lines are the .618s of the various levels at or above the triangle. At or near when the yellow lines meet the triangle's hypotenuse or upper descending trendline, we should expect a drop, as we can see historically. Matching up those on the chart yields a couple useful dates to expect this.
We are currently in-between a cluster of local an macro fibs which is restricting the price action volatility as can be observed by how well the price action is conforming to the fib lines.
In explanation of the predicted price path, first, its taken from price action we saw in May. I believe the next bounce off the bottom trendline will be a bullish bounce with a fake-out to the upside like we also saw back then too. Supporting this idea, let's look at the momentum waves for the daily chart.
We still have some way down to go, same for the 12hr as well, but we are definitely close to a green dot on the 12hr. Because of this, I believe we'll see a 12hr bullish trend after the next bounce from the bottom of the structure which will breakout up to the 7.618 fib level. At this point, I'm expecting a dump to the next leg down. We still have red dots on the 3d and weekly for bitcoin. I believe it may take up to a week for us to see the 5.618 fib level at 36k. At this point, we will have significant bullish divergence and should expect the bull-run bounce kicking off our parabolic run.
