ferGOD
Long

BITCOIN - Double Three - Elliott Wave Triangle Structure

BITMEX:XBT   Bitcoin / US Dollar Index
Volatility in the crypto market is nothing new. Its also the secret sauce that traders on platforms like BitMex, Binance, and Huobi thrive on. Owing to that, it should come as no surprise that the moment a ripe opportunity for wrestling the markets up and down presents itself, market makers pounce on the chance. Volatility is a traders best friend. Whether a market goes up or down makes no difference as long as there is enough price action in either direction to capitalize on. As a trader, the one thing you dont want is a flat market.

As a HODLer rather than a trader, volatility , like weve been experiencing over the past week, is certainly far from ideal. If youre hanging on to a position rather than trading it, youre probably looking to add to your bags at what feels like a recent low. However, with prices swinging so violently and falling knives dropping from the sky, a buy that felt genius a few days ago may seem catastrophic today.

We wish we would allay your fears by telling you its going to be alright, that all will bounce back (which they are certainly doing today), but the crypto narrative appears to be shifting. A changing of the guard is underway in the blockchain world, and nothing is going to be as it was before.

After streaking across the sky like a boundless rocket headed for the moon, Bitcoin starry trajectory appears to have broken down. As usual, lead analyst has revealed crucial levels for BTC as well as a few scenarios with a high likelihood of playing out. At current, Bitcoin , along with the rest of the crypto market, is dangling in a no man’s land that represents the most dangerous trading environment imaginable. There are multiple scenarios at play, and many ways this thing could shake out, but throwing your hat in the ring here takes serious commitment and an ultra-fine stop loss.

Our lead analyst has parsed through a trove of data to arrive at four potential BTC scenarios with favorable likelihood. Here are a few versions of where we think price may be headed according to Elliot Wave theory
  • 1. At breakout support from consolidation triangle, support around $9300K
    - Bitcoin can count on some modicum of support between three levels $8K to $8.2K, $8.7K to $8.9K, and $9.1 to $9.3K.
  • 2. If BTC breaks below $9k on the daily, $8.5K - 7.5k is a next support
  • 3. If $12K is reclaimed, $12.4K, $13K and $14K are next It’s possible that we’ll see what is known as an ‘extension wave’ up to the $16.2K mark. That’s because the current parabolic fractal is nearly identical to the one from "14 bottom to "17 top – if compared according to Elliot Wave principles. Both have an extended wave 5 with equal length to their wave 3.

Resistance is trapping us all the way from $10k to $11K. Regaining the $11K mark is what it would take for us to cast off our bearish bias and start looking toward new highs at and above the $16.2K mark.

If, and that’s a big if, we break above $13K decisively, chances are BTC will visit $16.2K with some resistance at $14.6K along the way. However, this is only one side of the coin. Both bull and bear scenarios are equally possible in the current market with the levels needed to be gained or lost for either direction to occur not entirely clear.

Theres really no preamble to give this bit of news – Trump tweeted about Bitcoin . Crazy, we know. He stated that he is “not a fan” of Bitcoin or the thousands of crypto assets which make up the market, and that they aren’t “real money.” Its not worth your (or our) time to parse through these humorous soundbites since the real action is what they indirectly mean. Donald is arguably the most well-known person on the planet at the moment. His Twitter account is followed by 62 million people and is quoted across every source of media, large and small, in the world.

Regardless of DTs position on BTC , this is – you guessed it – amazing for Bitcoin . Exposure on this level might be the boost needed to send this market over the top. The fact that the POTUS just name-dropped Bitcoin and sees it as an adversary gives the crypto narrative real legs in the eyes of normies everywhere who have heard of cryptocurrency, but haven’t taken it seriously.

Is days ago, the market saw a capitulation occur during which traders put their beloved bags on sale at incredible discounts. The mass sell-off took most digital assets down with double-digit losses which, considering the recent high-level exposure for the digital asset market from the likes of top politicians, took many by surprise.

The intensity of the bearish vibes being projected toward the alt market has been turned up a few notches as many begin to seriously reconsider whether alts have any staying power at all. Bitcoin market dominance has been steadily climbing back toward 70% to reflect that.

Whether this is a classic Oracle of Omaha “blood in the streets” moment or a real reconfiguration of the space is something that only time can clarify.

Good Luck
God above all

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LTC vs BTC Instrument Ratio
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ROAD MAP!
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I am add contracts in my long position
Trade active:

The first zone worked.High probability Double Three has finally been completed (Wave 4 completed)

Plan A
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Spread Ratio

LTC / ETC / SHITCOIN index (Major MarketCap) VS. BITCOIN
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Trade active: Right shoulder in progress ... Let's go to the moon!
I will update soon!
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NEW UPDATE!
I think you're right. I also made a similar trading idea.
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Impending drop to 8k
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Appreciate your work so much!

Thank you for investing your time on us!

I have prepared a detailed road map of the ongoing situation in the BTC space...

Please share with me you thoughts about it...

+2 Reply
I am a great fan of you.
But I thought you analysed a few weeks before saying BTC might go to 7500?
Is it less likely to happen now?
+1 Reply
ferGOD marsleung2323
@marsleung2323, It's the odds. 2 scenarios. As I mentioned above. If BTC breaks below $ 9k (price close daily), $ 8.5K - 7.5k is a next support * and the final target of Wave Y (Fibonacci Projections) But there is a probability that Wave Y is over finish. I will upgrade as the price develops. There is no certainty in TA. They are expectations.Thanks for commenting. Thank you for following my studies. But remember, I am HUMAN, I ERROR.
+1 Reply
@ferGOD, thank you so much!
+1 Reply
Thanks for great TA and ideas!!
+1 Reply
Excellent Study! I hope that you are right my friend :)
+1 Reply
ferGOD DouglasMota
@DouglasMota, Thanks for commenting
+2 Reply
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