Assuming equities have another leg down, they will be a drag on Bitcoin -- but with most of the high leverage players already nuked on Bitmex, I'm not expecting a lower low. When equities bottom, Bitcoin's bull run begins in earnest -- which will likely be sometime near the halving.
Red squares are high volume nodes. Lots of divergences showing up just like on Feb 19. Final target is 18XX or 21XX depending on severity of the crash.
Predicting it will top out between 130k-140k and much sooner than we think. Of course, it could take until after the halving. But so far, we're moving much faster than expected -- more analogous to the 2013 double-bubble than to the 2017 one.
Bearish $SPX #ES_F roadmap to watch for if we continue to drop. DONE Initial test of 200wma DONE Bear market rally to lower high at resistance Break of 200wma Trendline bounce @ $2300 Backtest of 200wma Panic sells to major support @ $1500-1600
Fib channels and curved trendlines ftw
2800-2500 short closed. Waiting to re-short in the 2600s and ride it down to 2200.
Each bubble is less steep and longer than the previous, but topping out at almost exactly the 1.414 level on log-fib extensions. Expecting 100k+ prices by 2022.
Chart speaks for itself.
1. Log-macd crossing over 2. RSI showing a rounded bottom 3. Bollinger bands historically tight (6th time being this low in history) 4. Solid 8-9 month base 5. Approaching long-term bull trendline Expecting $7400 and beyond in the coming weeks.
Just drawing some lines for fun to see how wrong I'll be.
What if this is a headfake to take out obvious stops before actually completing the inverse H&S, just like we did in January with the H&S?
Long from 9700. Looks like the bottom for now based on 6h cloud flat top kumo, rounded price action on horizontal support, and various bull divs. Next stop 16400, and ATH in April. Stop below 9300.
Just daydreaming, but what if...
Expecting a bounce off of ~12k. Will look for a safe entry on lower timeframes once we get there. Log bear trendline Horiz resistance VP low volume node 1d cloud