Since the descending triangle pattern was confirmed, we've had 3 price targets that have hit with wicks. 1st target was $4500 level, 2nd was $3300 level and 3rd target is $2k level where we have a lot of support. There's no guarantee for $2k to hit but I will definitely be doing the bulk of my bear market buying down in the mid to low $2k region. I see no reason...
Bitcoin has been in a continuous downtrend since it broke the support level at 5700 and shows no signs of reversal at all. Furthermore, a falling wedge can be spotted on the 4hour chart that could bring the price towards 3300-3400. In my post, almost 2 months ago I was discounting a possibility of such scenario and for now, it plays pretty well (check the chart...
We wont see any new highs for a long time... save yourself some time/money and just step back from crypto in general... ones we bottom out at 1.2k feel free to put money in BTC or any shitcoin, ones this bear market is over we'll see a massive bull run.
Count is largely based on Godly's EW count. But I have included some intrinsic changes based on careful analysis. Mostly in the subwaves of the triangle. Overall retracement type is a double zig-zag. ABC - ABCDE triangle (X) - ABC Most Probable target for end of retracement: 4640 If that breaks down, 2870
BTCUSD Possible bullish Trend to 11200: 1) First, BTCUSD needs to aggressively break 7220 and test 8400-8500 Zone. 2) It will most likely get reject back down to 7222-7500, where it could find strong support. 3) With enough volume and momentum, BTCUSD could PUMP back up to 11200, which would lead alts to have some rooms to breath (massive gains for alts, from...
Btc/usd trend analysis: 3 resistances converging in the same zone, the Price touched $6421/$6431, where the 21 Ema of the daily Bollinger bands is and got rejected, there is also a yellow line resistance in the same spot, this line is the main downtrend line that it has been rejected the entire year, a little above that one we have another thin black deciding line...
Only posting this because somebody asked. I don't trade crypto anymore. May still chart it because it's fun. My potential reversal zone is between the .886 and 1.13 retracement of its last run. This has proven to be an effective pattern for BTC. Put it in prices so you can have an official PT.
Overall this looks like a potential rounding bottom pattern. Price action has been beautiful lately compared to the last few months. Historically 6k has been a well defended area for Bitcoin. Take into consideration that we have also set the first higher low of the year. Alts also seem to have potentially bottomed out. Of course there is no way to tell if they...
From 10k, we are in wave C of an ABC correction (see purple line) ... heading to the lower line of the triangle .... completing cycle WAVE E (red line). The ABC correction is comprised of a 5-3-5 sub wave system. Renko diagrams support that we have completed wave A and B of the ABC taking us to the bottom of the triangle (see my previous idea). It's possible...
Hello everyone. So there's been much deliberation over the wave count. Certainly the drop from 10k has had a few minor bounces, and it is hard to distinguish what is really completion of a wave ... which obviously impacts the wave count. So this morning I switch to Renko bars ... looks clear as a sunny day to me. Up to now, over the past 2 days, I've been...
Based on parabolic advance analysis these targets could be reach in the following 5 years approx
So I looked it over much longer, and I think this makes a lot of sense. These 2 blue lines have acted like bug zappers to Bitcoin. I think we will hit the closer one very soon. This will send us down to the long awaited double bottom of $6000. That rush is going to allow us to punch through the first line but we will hit the second line and the plummet like we...