Hypothesis on calling a mere speculation Top of Altcoin's Market Cap using the tools of Fibbonaci Circles on Logarithmic Scale in order to do so.
The Purple/Violet Fibbonnaci Circles are taken from the price inception to the Highs of April 2021, being well respected and flirted
by price as Strong Support-Resistance Zones and Pivotal Points changing Trends...
BTC.D has been falling sharply lately, giving room to ALTS to out-perform Bitcoin while BTC consolidates and moves above 20EMA in price action.
BTC.D has broken down the black falling wedge pattern which was supposed to break higher in terms of probability and if you notice, after breaking down the patterns BTC.D experienced a sharp drop.
Fibb circles are now a...
Bitcoin broke the important zone on the Pitchfork, so adjustment was needed for more Support-Sesistance(S-R) zones .
Chart got more noisy, but trust me ,it's worth it.
The Bigger Pitch fork which is the downtrend from 65K, pitchfork that crossroads are also pivotal points for high push in market movement, wether upside or downside.
The broken level on the white...
BTC.D has been having wild swings ever since it found what can be said a considerable bottom, putting a stop from all the plunge it experienced for months in row leaving room for alts to breath and explode tremendously high in price action putting New All Time Highs one after another.
Times that put ETH at 4K,
BNB at 700$, ADA to 2.5$
DOT-LINK-DOT 45-50$ and so...
Bitcoin has had an amazing BULL's year looking back since March's 2020 Black Swan Event with a price as low as 3.850$, and took less than three months to having find a breakout at 10K from 3.8K of March's Lows and it ran to the previous ATH 20K.
After breaking the last all time high of 20K and creating Support on it, 65K has been printed as the NATH with some...
Wonder Why Bitcoin is falling !?
It is SO clear to me when I look at Gold against BTC on the logarithmic scale.
Do you see what I see?
GOLD/BTC is literally Bitcoin flipped upside down, and so far in this cycle after the third's Halving, Bitcoin is not even close into putting the Next All Time High, which is speculated to be printed at 6 figures somewhere between...
Bitcoin Dominance seems to be struggling with it's Bulls, however, momentum is shifting on the MA although in daily time frame they still remain semi-bearish.
Take heed for Bitcoin Dominance skyblasting up since it has fallen for months now, creating space for Alt's to skyhigh on All Time Highs with ETH at 4K, ADA 2.25$, BNB 700$, LINK at 50$, DOT&UNI 40-50$ and...
March 2020 :
Covid-19 was declared a Global Pandemic from the WHO (World Health Organization) .
Markets tumbled due to fear from the unknown virus which brokeout in Wuhan,China surprising and spreading around the Globe rapidly and viciously so Lockdowns started taking place World-Wide.
Investors jumped into the Dollar out of Stock Shares and other Markets selling...
Is Bitcoin headed for further downside from here plunging ALTS while it's Dominance Rallies High, or will it find support on the aquamarines key-levels to continue higher?
The price label of 49K, it's a strong Support Trendline coming from as far below of 20k Levels, and has been acting as Critical Support on the Bitcoin's Rally so far having a peak at...
At the moment while this idea is being released, Bitcoin seems to be getting rejected from the White Trendline, which has been previous Resistance pushing the price down when getting in-to contact with it trying a Break-Out.
However, last 24 hours have been an amazing Ride for Bitcoin and Altcoins, and Bitcoin is looking good so far in price action staying above...
Bitcoin Bears have been taking over since Bitcoin set a New All Time High at 61K Price-Level after breaking the previous 58.4K mark as previous All Time High.
Things are looking bearish in the short term at the moment when this idea is put out.
The Black-Orange Fibbonacci Retracement,is taken from the breakout of Red trendline coming from the previous
Bitcoin is showing strength after the dip it had .
However, this may not be the case!
I'm bullish on Bitcoin, long-term and mid-term, but from the chart indications, the trend is wicked.
If you take notice Bitcoin has created a inverted Head and Shoulders Pattern, creating a Low and Higher Lows.
Bitcoin must continue to rise in price staying into the orange...
Bitcoin Dominance is showing weakness over Black Fibbonaci Retracement Golden Zone, Fibb' is taken from the swing low of first Dotted Green Trendline to the Swing High has done so far and was rejected back down there.
In case BTC.D does not recover into the Golden Zone to Create Support there, than the Gann Faan level may be a bouncing turn.
Bitcoin may seem bearish in the short-term*, however, unquestionably and undoubtedly it has a BRIGHT future ahead.
Bitcoin managed to raise itself out of slums through all the dirt that was thrown by mainstream media and especially with the FBI's infamous SILK ROAD case.
Now it is Mainstream Media that is paying attention to Bitcoin, and thankfully this because...
Bitcoin broke the previous 'NATH' of 24.298$ by setting a New High at the price of 24.461$.
On the 2 Hour Candle when this idea is published it seems like Bitcoin tested the GREEN Support wich is the last 'NATH' of 24.2K and broke below it showing bearish signs.
What is about to Happen?
Will Bitcoin continue performing well making New Highs or will it fall sharply...
- Beware of participating on any of your TRADES, because your CAPITAL may be at RISK!
The market may Become pretty VOLATILE at the blink of an eye considering all the facts of having a Deep Correction which is just Around the Corner!
Bitcoin has pumped more than 400% since March's Plunge when Covid was Declared a Pandemic!
However, let's not just go so way behind...
THIS IS NOT FINANCIAL ADVICE!
PLEASE DO YOUR OWN RESEARCH BEFORE EVEN PARTAKING ON ANY TRADING ACTIVITIES BASED UPON THIS CHART.
Bitcoin started the current candlestick trying to create support after breaking out from the 'Golden Pockets' marked with dark-coloured areas.
Worth mentioning also is the fact that the Yellow MA is headed with the head held up high...
After Bitcoin broke down the 'white' triangle and broke below the dark areas it declined sharply with a wick to 17.6K to possible performing a dead cat-bounce, retesting previous support of golden pockets perfectly but now as resistance only to get rejected and continue to be headed lower.
What we should all be anticipating while bearing with patience, is Bitcoin...