FateTrader

FateTrader Updated 

So it seems that my last idea turned out to end up as a fake out after all, if this pattern repeats like before, we should see the next move in about 12 days.

FateTrader

Elliot Waves are pretty distinct and almost to easy to read which makes one think if it can be true. Nevertheless we can clearly see the very strong trend of 5 impulse waves up on the left followed by also clearly obvious Expanded Flat correction 3-3-5 (abc, abc, 12345 blue waves on the chart). Additionally after a very strong impulse cycle correction usually is...

FateTrader

I'm comparing here the levels and crosses on Stoch and RSI to the previous times before we had major runs up. If indeed this is a fake out we'll test MA's before run up, the difficulty comes from the peak, it's not really higher than previous highs.

FateTrader

I'm assuming we're still in this rising channel and when we reach ~14k price once more will retrace to the middle of it.

FateTrader

It's definately not a proper TA, just some pattern recognition, but so far price has been saved by the daily 30 sma, and we usually had a long consolidation channels, it's way to early to say it could still drop like a stone, but maybe there is a chance that before this happens it will attack the yearly highs once again, we'll see how it goes. Till then

FateTrader

It's just an observation of a repeating pattern, I'm guessing the timing on my ghost bars is going to be way off but something similar is quite possible, I've put first a down / sideways move before the spiking because there will be a correction on bitcoin which will no doubt drag all the coins down, but then eventually we might see a nice spike up.

FateTrader

Whoever holds the bitcoin now will say it's legit, bears will argue otherwise, truth is no one really knows and at this point it is the last breaths of this rally, it is quite possible it will go to these insane levels to trap as many as possible, it is tempting to try and catch the last 1k but the real question is, is the risk really worth it? I don't know it may...

FateTrader

I'm gonna take the 27th of February as the beginning of WAVE 1 and the lows of 25th of April as the end of WAVE 2 just were the #2 is. If we draw a Fibonacci Extension between points 0, 1 and 2 we're getting the cyan 1.618 at $8176 and purple 2.618 at $10145. Notice how the WAVE 3 stopped exactly at the 1.618 extension. Now if we draw another extension between...

FateTrader

I know many have the last big descending triangle drawn larger and I agree with it, but I just wanted to give here an additional look at it. This is just good old fashion speculation here, and its a bit like trying to ques the one of the many unlimited parallel realities that can happen so take it as you want. Recently 11k shorts have disappeared within minutes...

FateTrader

Most bitcoin people are expecting a pullback now, maybe except from the FOMO crowd ;-). Bitcoin's extremely powerful and totally unexpected bullish rally may have reached it's peak range, tough it's quite vast. Correction at this point seems quite reasonable. Most of the more resilient bitcoin people including the FOMO crowd are already in it right now. Not many...

FateTrader

Not really a TA but rather an observation, recent fractal patterns look eerie similar to the ones not so long ago. This would mean a possible short term (hours or days) bounce up before going down.

FateTrader

This is my analysis for the next 6 to 9 months, it's an additional information in relation to my recent published ideas. Before we can see the trend chance I believe one last drop to about $2600 will occur, I explained why believe this price will be the bottom in my previous idea, I realize there is no previous historical support level there but hey, market can...

FateTrader

No shorts left to squeeze for a bounce

FateTrader

Forecast based on similarities with 2015 Bear Market

FateTrader

There was simply no shorts left to squeeze to push the price up.

FateTrader

Bitcoin Longs vs Shorts Ratio is at the perfected 9 and Historically there was always a Drop short after. We'll soon see how it plays out.

FateTrader

This time it will be something completely different than Elliot Wave, support levels and all that usual voodoo I'm talking about. While ago I've noticed that usually around the 6th of each month there is a significant trend change or boost to its current direction. This is probably how the trading bots are programmed OR …maybe… its something much more sinister,...

FateTrader

If we apply Elliot's Waves theory to Bitcoin from it's inception, we can clearly see that it has just completed it's first 5 waves of what now becomes a 1st Supemillennium wave. Its now well on its way to the end of 2nd Supemillennium wave at around $4500 level possibly maybe even lower than that and if all goes well this should be a great place to buy before the...