This is the likely retracement if we have finished the 4th huge wave and started the 5th one. Lets wait to hit the 21 weekly moving average and then decide what will happen...
Both scenarios are really likely considering the technical view.
Halving effect can pump this scenario however I am a little more bearish still...
Considering the huge cycles bitcoin have been doing, we can suggest that Bitcoin has either entered the last 5th bull market wave or about to finish the 4th and the most boring correction wave.
When we draw the fibonnacci retracement from the start of the 3rd wave we can see that bitcoin has hit the .38 level back in december 2018.
However it is really likely to...
EOS is one of the most volatile altcoins. High risk high reward.
3.35 is a really important support zone. Breaking 3.35 will invalidate the impulse wave and will take us to 2.5 usd.
I am %70 bear, %30 bull about EOS.
I am scared to short any coins right now so I will be longing from the bottom.
Long from 2.5 - 2.2
Stop loss 1.99 usd
Considering this move as an impulse 12345 we can start the bull season and after the retracement we are about to finish we will be going to the moon.
I am expecting a correction at least to 110-130 usd before this bull to continue though...
Even though bitcoin has tripled its price and some of the altcoins like litecoin and eos did the same, we cannot see that in most of the altcoins. Please check XRP, ZRX etc.
There is something really weird with this rise. Generally altcoins should be following bitcoin rise but here we cannot see that clearly.
Comparing the 2018 prices, when bitcoin was at 10k...
I know that most of you will think that this chart is called BULL but still it has the most BEARish attitude.
Here I want to explain why I think a retracement to 4k is really likely before the crazy bull run.
I see that all the bull analysts agree in the 7-8K retracement level. Considering that Bitcoin hates doing what is expected, I think a much deeper...
This is the bear scenario for our mid term Bitcoin action.
I will be posting the bull as well.
Bitcoin had a great bull run so far, however both the news, tether printing and other manipulations seem to be decreasing.
Even though most of the people believe in the new bull market, I am still suspicious. I believe this is a huge bull trap which will be leading us...
The basic ideas behind Parabolic Arc patterns:
Pattern is easy to spot but difficult to trade with excessive volatility.
Most Patterns retrace to 62–78% of its rise. 50% retracement is first target.
Do not overstay in your trades
Stay away from “Parabolic Arc” patterns buying (after retracements) as you truly never
know where/when it will start reversing.