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Cycletop

BTC/USDT - 1W - Time to Bounce? Hoping BTC bounces here - price already tapping the blue 21W EMA and also retracing to the 0.382 fib extension. First green CPR (R1) meets the 100% fib extension. Good TP zone. Second green CPR (R2) crosses a long term white trend line. Good TP zone. Third green CPR (R3) taps the 1.618 fib extension. Good TP zone. Should price break down below the green trend line, look for the 50 EMA (green) and even 100 EMA (yellow) for DCA options. Come on the Bitcoin.
Long
by dimuthj
150K Bitcoin Top?Posted this earlier today but it got flagged for adding my twitter handle so im posting again. A lot of times this cycle is compared to the BTC cycle in 2013. However right now price action is looking very similar to 2017. We have bottomed out on almost the exact day in July and have been following the price movement of the second half of 2017 very closely. The 55 EMA looks to be important to watch during these times. In July 2017, BTC had broken below the 55EMA before bottoming out, very similar to July 2021. They then proceeded to make higher highs and higher lows before having a second break and close below in September. It recovered relatively quickly from here and went on to continue the uptrend. In both 2017 and 2021 when we bottomed in July and September, we had a double bottom on the RSI . In November of 2017 we didnt reach the bottom levels of the RSI trend during that correction but we did correct and continued the uptrend on the RSI once we tested and bounced off of the 55 EMA on the daily. We just tested the 55EMA, and are currently looking for a bounce. If this plays out until the end of the year we could see a cycle top of 150k as soon as December 21st of this year. After we reestablish the 7 MA next close below could be the signal that the top is in. Good luck!
BITSTAMP:BTCUSDLong
by anamaly
Bitcoin | Where Is The Bull Market Top Anticipated?Hello, everyone! Last time when I made the BTC analysis, I spotted that now the price is in the local Wave 3 of the Global Wave 5, last wave of the current bull market. Today I am going to assume where the market top can be for the current Bitcoin market. The market clearly formed the 5-wave Elliott structure. According to Trading Chaos methodology, we should calculate the price distance between the Wave 1 start and Wave 3 end, measure this value from Wave 4 bottom – this is the higher of the Wave 5 target zone. The lower band is 62% of this distance. Thus the target zone for this bull market top is the range between $68000 and $90000. You can be scared that the lower band have been already reached, but as I revealed in the previous analysis the local waves structure have not ended yet. I am waiting the BTC price much higher than the current ATH. Moreover, we should see the fractal at the Wave 5 peak and the decreasing momentum on Profitunity MACD. I will tell you when the bull market top will be in my opinion. Now I am still holding altcoins and waiting the altseason. DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
BITSTAMP:BTCUSD
by Skyrexio
1
is 230k possible? Thoughts?These trend lines are nothing new just wanted to point out some things I have been looking at. On the weekly chart I took a measured move from the highest price point on the peak of the first RSI top to the highest price point of the peak of the second RSI top of the 2014 bull run = 575% I did the same for the 2018 bull run and it was 576%. More confluence between the two is that the first top of the RSI peak turned out to be the following bear market support on both cycles, a drop of about 85%. So I took a average of the time period between the two peaks 31 weeks and extrapolated from the current first peak up to the red resistance line. It was not 576% but still much higher then I am expecting this bull run to go, 470% and a price point of about 230k! its a extremely Exuberant prediction I know, but what do you think? I have mainly been looking at the bitcoin log growth curves which give a rough top of 120k for the same time period. I feel this is much more realistic as a top and will be what I am keeping a eye on the most. Something else is telling me that this ridiculous 230k top is not out of the question though...
BITSTAMP:BTCUSDLong
by louisville51
7