Well with all the bullishness lying in the air, I thought I'd make a more bearish chart. I mean, not really bearish, only short term bearish. Longer term of course, BTC is uber bullish. It's really hard to say what BTC will do, but we have very solid support at 6.3K, where the volume profile indicates extremely strong support! Let's see! Not much more to add...
So I noticed this similarity, as always fractals can be seen everywhere at any timescale in markets. But here, it was really interesting that the current 1h chart, looks really similar to the 1d chart of the 2014-15 bearmarket. Well, if we were to apply this scenario to the current situation, we'd slump slowly down to a low of around 8k, upper 7k, then stabilize...
Chamath Palihatipiyah formulated it perfectly: People who bet against this company are incredibly short sighted. They don't see the bigger picture here. Tesla is a company like Amazon in the early 2000s. Tesla is like Bitcoin 8 years ago. It is one of the companies with the greatest upside potential ever. The shorters get caught up in all the FUD stories,...
So the dump did come, the shooting star weekly was indeed a good dump indicator. However, as always, there are now many emotional charts out there. As long as we climb, everything is super nice, but as soon as it starts dumping, doom and gloom is back, hehe! Good old hysterical bitcoin land :) I think we won't go lower than the middle weekly bband, so around the...
Well a beautiful textbook shooting star candle is forming. I know, there is still time until the new weekly candle, and in 6 hours a lot can happen in bitcoin land. However, if no miracle happens now, and we get a 1000 USD pump, then the weekly close will look strongly like a shooting star. That is usually a strong reversal candle. In that case, I expect a dump...
Well here is a different picture on Ripple. I am a longterm ripple bull, and believe we'll see quite insane XRP prices in USD in late 2020 and early 2021. As high as 30 USD, probably higher. But in relation to BTC, I think XRP will first continue to decline. Therefore the USD price will not pump much before 2020. I don't see XRP going much above 1 USD in 2019. I...
Well here it is again, the good old 2012 rally. So far, it still has some similarities. But unfortunately with fractals we can find similarities everywhere, so it of course will not magically tell us that this is exactly how the rally will look :/ But is still interesting to see. The gold fractal doesn't fit any more, because it would have needed to dump at 13k,...
So everyone is waiting for this bigger correction to occur. IT CANNOT GO ON LIKE THIS! IT MUST FINALLY CORRECT BY AT LEAST 30% !!! And we wait, and wait, and BTC just keeps ignoring all TA, ignoring all indicators, and keeps climbing and climbing. Every now and then it does smaller corrections, just enough to let the stoch RSI cool down enough, to get away from...
This is highly fascinating to watch. So normally the Stochastic RSI indicator used to be a pretty good indicator on the weekly timeframe, to get a feeling for how long we would continue going up. If bitcoin was a few weeks over 80, meaning "overbought", or even at maximum, 100, so "very overbought", then we knew: Ok, bitcoin is soon gonna do a strong...
Now let us speculate a bit now, and ponder an ultrabull case. Of course, I fully admit that I am a bitcoin bull, and always believed we'd see 1 million USD per BTC. But my estimate has always been 2030 for hitting 1 million. Now, for shits and giggles, let's just ponder the possibility of a bitcoin hyper-adoption suddenly taking place until 2020, in order to...
Just a quick update on our good old parabolic trend, that as prophesized, just won't quit before 12-13k (lower target). There, the upper monthly bband awaits, which will be strong resistance. However, I think that after some consolidation, BTC might really aim for 20k in this run here. But really interesting will be, what happens then at 20k? Will we see a larger...
There are too many people expecting a crash nowadays, because there are some indicators showing a similarity to the 2000 and 2008 stock market crashes. I am convinced however, that if too many people expect something, it will not happen. Quite the contrary will happen. I am not a stockmarket shill, I don't even own any stocks. I started learning TA when I...
XRP is doing a bullflag, which is a few weeks long, so we could see a pump starting at some point in July. But it could still drag on for a while. The question is of course now: Will this be the big one like some XRP shills like to draw here on tradingview? My opinion is: No. The big XRP pump will start when BTC starts making new ATHs, thus, when BTC is at 25k,...
It has been a while since we've taken a look at the monthly picture. We can see that the monthly candle from May went effortlessly through the middle bband. This is a very strong sign. Also, the monthly stoch RSI, is going from oversold to overbought, which traditionally has always been the beginning of the new bullmarket. Therefore I think that BTC will not go...
A quick update on the parabola. Well BTC doesn't like to rest, so we continue the pump. That has shifted the parabola a bit, but this crazy bastard could just continue to pump and only make some smaller retracements. This would be akin to my gold chart comparison and would fit that view nicely. Let's see, but it's definitely interesting. We could go well beyond...
In another view, in case we drop further, to the weekly middle Bollinger band at around 5300, we probably will see the birth of a new triangle with a longer consolidation phase. Of course, we could still see the parabola being finished like in this view: But below 7000, I'd say that this view probably is done for. This could have happened with a shorter dip...
I've seen this chart here already somewhere, but I decided to do one of my own, comparing the fractals a bit more closely. And also trying to give an estimate at where we currently are, and what would happen if this fractal continues to hold true, the way it did until now. The similarity is certainly absolutely astounding. But some will now cry out: But these are...
So there's a H&S-ish looking pattern going on here. However, I am not 100% sure, as this looks a bit distorted. Then there's also a rising wedge at the same time, which tells a higher probability for downside as well. But as the last times BTC just wonderfully ignored any TA, I am not sure myself this time. BTC maybe wants to make it look as if an imminent...