Bigsky_Crypto

Bigsky_Crypto

Obviously, I don't have a crystal ball, however, just for fun I have estimated what the timing of this current market cycle may look like. I haven't made any predictions on the chart as far as the peak price or the price of the next bottom. Although, if the trend of diminishing returns continues I would expect a peak between $80k and $90k. If that trend is broken...

Bigsky_Crypto

I want to start by saying that I realize BTC is looking very bullish right now. But with all the difficulty it is having getting and staying above $38k, I feel that this could lead to a pullback. At a minimum, a short-term pullback and worst case a pullback lasting several weeks or more. I could be wrong and BTC could just keep moving higher, but I want to keep...

Bigsky_Crypto

I am once again publishing this Bitcoin chart (3-day time frame) showing the entire price history, and just how closely the last two cycles matched as far as the elapsed time between events. The reason for publishing it again is that I have added another event (when a new all-time high was hit). I then measured the elapsed time from each bear market bottom to...

Bigsky_Crypto Updated 

This is just a fun chart to highlight the timing of the last two market cycles mainly. When comparing the timing from one bottom to the next (which I consider a market cycle) you can see how close the last two cycles have been. Also, when you compare the timing between the different events - Bottom to Halving - Halving to Peak - and Peak to Bottom, the timing is...

Bigsky_Crypto

If BTC experiences another 80% drop in the percentage gain from the bear market low to the bull market peak, that would result in about a 422% increase for the next bull market. In U.S. dollar terms, that would equate to an approximate value peak of $80k for the next bull market. Of course, nothing says that this trend has to continue. There are only two data...

Bigsky_Crypto Updated 

I have felt for a while that the bear market low would be much lower than the June 18th low. The previous two bear market lows were both down approximately 85% from their peaks. A similar percentage drop for this bear market would lower the price of Bitcoin to between $10k and $11k. I'm not convinced the price will go that low, but I could see a bottom around...

Bigsky_Crypto Updated 

There is a Cup and Handle Pattern forming on the 1-hour time frame. A breakout is possible in the next 6 to 12 hours, but a lot will depend on how Bitcoin performs. If there is another significant Bitcoin pullback, a breakout most likely will not materialize.

Bigsky_Crypto

The parabolic curve pattern DXY has been forming for over 16 months was broken on October 21st. DXY bounced at the 109.53 level and now appears to be retesting the curve. I see the following support levels if DXY is rejected at the curve. 1) At the previous bounce level (109.53) 2) Near the 105 level. 3) Near the 101 level. Thoughts: ...

Bigsky_Crypto

This is my bearish scenario for Bitcoin in the short to medium term (Long-term, I remain bullish ). In my opinion, it looks like BTC has been forming a descending triangle since the June 18th low. Even though it looks as though BTC has broken out to the upside, I believe there is a possibility that this could be a false breakout. If this is a false breakout and...

Bigsky_Crypto Updated 

Analysis was done in the 30-minute time frame. The percentage for dumps or pumps was for the first 30 minutes after the data release.

Bigsky_Crypto

Is it possible that since the June collapse Bitcoin has been forming a descending triangle? Could we see a repeat of November 2018 when the price of Bitcoin finally broke down from the descending triangle it was forming and dropped about 50 percent? That drop ultimately formed the bear market bottom. How strange would it be to see a similar scenario play out in...

Bigsky_Crypto

I am hopeful that bitcoin could be at a reversal point. I am seeing a nice bounce off of the daily 50 EMA which acted as support and a reversal point during the last 2 pullbacks. Also, this would be a beautiful bounce off of the 0.618 FIB level. I'm watching for a strong close to this daily candle and then follow through to the upside. Also, BTC still has the 4...

Bigsky_Crypto

I am really hoping that bitcoins daily pattern isn't really a parabolic arc (or curve) pattern. From what I have read they do not end well, as they tend to have significant corrections of 62–79% of its price rise (from the top). I'm not trying to be all doom and gloom, just looking at all possibilities On the bright side, a touch of the parabolic curve has...

Bigsky_Crypto Updated 

I'm seeing a repeating pattern in bitcoins price action. This chart is the 4 hour time frame but I also see a similar pattern on the daily which spanned the whole month of August. The pattern consists of three peaks that form a sort of dome pattern with the highest peak in the middle. As this latest pattern completes I am wondering whether it will also conclude...

Bigsky_Crypto

The reason I started looking into this is because I was wondering if there could be a scenario where the price of bitcoin could stay relatively close to $10k but the CME price when it opens on Sunday gaps down passed the price of bitcoin filling the gap from July then bounce back up to near the current price of BTC. The CME bitcoin futures price closed today at...

Bigsky_Crypto

Bitcoin has now completed the Head and Shoulders formation. After coming close to breaking the neckline yesterday morning bitcoin did indeed break it this morning. As a result, bitcoin has experienced a significant drop in price, as of me writing this the price is at $10,598 after hitting a low of $10,510 a little earlier. So how low will the price of bitcoin go?...

Bigsky_Crypto

This is a follow up to my last published idea. With the drop yesterday and this morning bitcoin has now almost completed the Head and Shoulders formation. Since the low this morning bitcoin has bounced but as of me writing this it is yet to be determined if this bounce can turn into a real recovery, possibly taking bitcoin back to and even above $12k. Or is this...

Bigsky_Crypto

I am still watching BTC closely for the possibility that it completes a Head and Shoulders pattern. If it does that could be the catalyst that pushes BTC down to fill the CME gap (red box). It may take up to another week for the pattern to complete. It is also possible that the pattern never completes. It's possible BTC may just keep slowly moving higher from here.