Using a Gann fan and a Schiff pitchfork we can see that Bitcoin price recently fell back into the lower purple band of the long-term growth channel, and will likely test the bottom of it around $6,800, before returning to its bull market cycle. This is time to reaccumulate BTC.
Short-Term: 404, buyers not found. If Bitcoin COINBASE:BTCUSD was going to break into new highs before retesting some lower support, it would have done so at this last peak at $12,250.
Since then bears have been in control, and have formed a descending triangle. Target is very low $8000 range, but given the strength of the move I think BTC price will wick into...
Bitcoin NVT Ratio, an indicator commonly used to time the tops and bottoms of Bitcoin "bubbles" has signaled a top is in, and during my analysis, I realized it never signaled a bottom was in during the December 2018 bottom. However, I am not sure what this means, as the creator of the indicator is bullish while the indicator suggests more bearish price action...
I expect to hit $5800 relatively soon, and $4200 to be the ultimate $BTC bottom. I don't expect price action to play out exactly like this, but its a good reference for why targets were chosen.
Short each top and long each bottom using PrimeXBT (ref): primexbt.com
Bitcoin has found itself once again in a descending triangle. The last time this occurred Bitcoin broke below $6,000 to $3,000.
This time Bitcoin will break down, but the descending triangle target is now $6,000 where it previous broke below to retest as support. This can either confirm the bull run, or send us back into bear market. Important price...
Bitcoin has yet to experience the true correction following its parabolic rally. It needs to confirm the parabolic support line as resistance. Once it does, it is rejected fiercely with potential downside targets at: $8000, $7,200, and $5,800.
I recently left BitMEX after the recent fiasco to trade $BTC on PrimeXBT - primexbt.com
Remember after Bitcoin hit $20,000 it held at $13K for a bit before falling to $5800? That's where we are right now!
Here's your roadmap.
If I make you rich, feel free to donate: 3MAPf7PBPoeR4E2voHXGqMzcMD2uJkFUAE
Bitcoin's bull run is going to go on vacation for the summer. Bears are out of hibernation temporarily. Here's your trading range to accumulate before the real bull run begins.
ALSO - take this as a reminder to "be fearful when others are greedy, and be greedy when others are fearful."
Bitcoin is at the most critical point yet - Fib fan resistance from ATH on most timeframes. Re-accumulation phase, or new bull run. Full thesis coming soon, but this is the critical point. You won't believe what I've found in the charts of every Bitcoin bubble cycle. I have cracked Satoshi's code.
More than anything in crypto I like to watch for fractals. Before I could draw a line in charts I noticed similarities just due to the human brain looking for patterns.
Well here is the mother of all fractals that hopefully makes me famous on TradingView. Behold: The mini-2018 bear market fractal.
Thus far, the February low and the April low will have been...
Third times the charm? Or will be continue downward with whatever algo whales are using? Inflection point right now.
I'm neutral because I feel upward screws over the market more, but the chart definitely tells me down.
Speaks for itself. Expecting to retrace the fall back to one of the fibs, before another trip to just under $10,000.
$10,000 = the new $6,000. Repeated attempts expected. Except not expecting it to break. If it does, $6K = $3K before we go back up.