BTC BEAR MARKET UPDATE: I have drawn out the whole Bitcoin correction on the 4hr chart with trustworthy data coming directly from my crystal ball! So now, if everyone could please stop asking me where BTC is going and be stressed out with every 2% pump or dump - here is your crystal ball chart!
Choppy markets need a crystal ball
Do not think this chart is accurate or represents any meaning other than pure entertainment and creativity from my side. Me and any other trader out there don't have a clue where Bitcoin is going other than that we are in a bear trend, which hasnt completed! I see a lot of panic from both bulls and bears when the trend isnt heading their way these last few weeks... Well, that's just how it is with choppy markets - they don't show a clear direction. (yet)
Bitcoin bottom targets
On a more serious note, we can anticipate some initial bottom targets for this bear market. First off, I think we will see a fast distribution and accumulation in the coming months; the narrative of a years long bear market didn't show up in my crystal ball. Why? Well, simply because we are seeing increased adoption (El Salvador & India) and we are getting rid of the worst BTC problem: Chinese mining dominance. To me this means we will see an increased demand in the quarter of the year, when such developments are coming to fruition. So, in short that means the market makers have to bag up as much as they can before that time. How do they do that? By bringing the price down, get you hit the panic button at the bottom which means a buy for them at the bottom. It always worked and it will always work. So realistic targets are between 20 and 15K, maybe a little wick below around 14K - that is my projection. In order to shoot back up in a V shape recovery and hitting current price levels in October. (according to the crystal ball)
Bitcoin in June
For the rest of June, I am anticipating one more dump and one last relief rally towards the end of the Month with a peak around the 44K on June 25th; when the half yearly futures expire. If (!) such scenario would take place, we can expect a huge hype and a huge bull trap! I am already looking forward to all the YouTube videos and moon posts! :) Beyond the month of June I expect the bears to take over for the reasons explained above and that will lead BTC into bearish territory over the summer. Summer is also a great time for the market maker to make its move as trading volume and buying pressure will be lower. Retail is spending money and time for holidays and institutions / banks have holidays or are calibrating their strategies for the last two quarters. Remember summer 2019?
Bear pennant vs. symmetrical triangle
I did make a more interesting discovery while creating this chart and that is that the bear pennant everyone was talking about (including me) - does no longer exist. Instead to my suprise, it's actually as symmetrical triangle! BTC already hit the breakdown target from the triangle and thus effectively has room to play! Currently we are seeing what is looking like a peak formation and I expect a consolidation / pullback before we start our relief rally that could lead us tapping the 200 day MA before making the definite death cross. However, in the rare case my crystal ball is wrong and we do not create a death cross on the daily chart, we might have been fooled and BTC could rally... Up till now, everything is unfolding as expected from a bear market or trend so let's see what will happen. We have a projection here and we will see soon enough how good my crystal ball functions...
Crystal ball disclaimer
As said above, this analysis is purely entertainment and creativity. I do not own a crystal ball and I do not have the market maker's phone number. If anyone does, please let me know!
IMPORTANT: this is not financial advice, crystal trading balls or oracles do not exist. Trading is based on liquidity, price discovery and psychological warfare. If you can not handle it, please do not trade and invest your money somewhere else. Do not believe Youtubers, oracle traders or me - trade only based on your own risk and research - only you know what is best for your own situation.
Choppy markets need a crystal ball
Do not think this chart is accurate or represents any meaning other than pure entertainment and creativity from my side. Me and any other trader out there don't have a clue where Bitcoin is going other than that we are in a bear trend, which hasnt completed! I see a lot of panic from both bulls and bears when the trend isnt heading their way these last few weeks... Well, that's just how it is with choppy markets - they don't show a clear direction. (yet)
Bitcoin bottom targets
On a more serious note, we can anticipate some initial bottom targets for this bear market. First off, I think we will see a fast distribution and accumulation in the coming months; the narrative of a years long bear market didn't show up in my crystal ball. Why? Well, simply because we are seeing increased adoption (El Salvador & India) and we are getting rid of the worst BTC problem: Chinese mining dominance. To me this means we will see an increased demand in the quarter of the year, when such developments are coming to fruition. So, in short that means the market makers have to bag up as much as they can before that time. How do they do that? By bringing the price down, get you hit the panic button at the bottom which means a buy for them at the bottom. It always worked and it will always work. So realistic targets are between 20 and 15K, maybe a little wick below around 14K - that is my projection. In order to shoot back up in a V shape recovery and hitting current price levels in October. (according to the crystal ball)
Bitcoin in June
For the rest of June, I am anticipating one more dump and one last relief rally towards the end of the Month with a peak around the 44K on June 25th; when the half yearly futures expire. If (!) such scenario would take place, we can expect a huge hype and a huge bull trap! I am already looking forward to all the YouTube videos and moon posts! :) Beyond the month of June I expect the bears to take over for the reasons explained above and that will lead BTC into bearish territory over the summer. Summer is also a great time for the market maker to make its move as trading volume and buying pressure will be lower. Retail is spending money and time for holidays and institutions / banks have holidays or are calibrating their strategies for the last two quarters. Remember summer 2019?
Bear pennant vs. symmetrical triangle
I did make a more interesting discovery while creating this chart and that is that the bear pennant everyone was talking about (including me) - does no longer exist. Instead to my suprise, it's actually as symmetrical triangle! BTC already hit the breakdown target from the triangle and thus effectively has room to play! Currently we are seeing what is looking like a peak formation and I expect a consolidation / pullback before we start our relief rally that could lead us tapping the 200 day MA before making the definite death cross. However, in the rare case my crystal ball is wrong and we do not create a death cross on the daily chart, we might have been fooled and BTC could rally... Up till now, everything is unfolding as expected from a bear market or trend so let's see what will happen. We have a projection here and we will see soon enough how good my crystal ball functions...
Crystal ball disclaimer
As said above, this analysis is purely entertainment and creativity. I do not own a crystal ball and I do not have the market maker's phone number. If anyone does, please let me know!
IMPORTANT: this is not financial advice, crystal trading balls or oracles do not exist. Trading is based on liquidity, price discovery and psychological warfare. If you can not handle it, please do not trade and invest your money somewhere else. Do not believe Youtubers, oracle traders or me - trade only based on your own risk and research - only you know what is best for your own situation.
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Here it is! We are looking at the pivot for the relief rally! Which is exactly in line with my projection's pivot (time wise), we didn't retrace as much as I expected and that makes a relief rally even more likely...
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potential targets: max pain for June: 43-44K & 47K // max pain for July: 25K app.laevitas.ch/asse...nterestbyexpiry.jpeg
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BTC back on track with my projection. We need to break 36500 on Monday or before to start our last relief rally.
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No relief rally, looks like BTC is about one week ahead of my projection. Another max pain price for BTC is 25K, most likely to close there on Friday. This will be a fun ride...
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back on track...
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Isnt such a bad crystal ball is it? ;)
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