hokask

hokask

Most people are bearish right now, which is a very good sign, if you wanna become rich you need to divide yourself from the herd.There's a reason why there's not a lot of rich people. Doing the opposite of the herd always works, it has made people like Warren Buffet, John Templeton, Paul Tudor Jones billionares. Bitcoin is no different, this is no difference...

hokask

We are forming a hammer candle which is usually means we are at the bottom.

hokask

It seemed we have retraced to fib level 0.5, wave 2 tends to retrace to 0.5. we might be at the bottom.

hokask

Wave 2 retraced back to 78.6% fib retracement, I expect wave 3 to go to 161.8% of wave 1.

hokask

If you use the fibonacci extension tool you can see that we got support from the 38.2% line.

hokask

It looks like a nice time to short.

hokask

If we draw a pitchform from 2018 top to the bottom and to this top, notice how well this fits, we are got supported by the golden retracement of the pitchfork.

hokask

As you can see we are between the 61.8% and 65% which is the golden pocket, bitcoin tends to retrace to the golden pocket which is know fact.

hokask

I know the pain of holding bitcoin, but I think this is a great time to buy, we are supported by the bull flag and 50 WMA, and we have finally closed the 4h cme gap.

hokask

The bearish case I think we might be in an ABC wave, wave 5 was the 2018 bull run. If we break the red line, we are very likely to fulfill the ABC wave and possibly go lower then the previous low.

hokask

Bitcoin is soon having a golden cross on the weekly 100 and 50 moving average, the last time this happenede bitcoin rose 80%!

hokask

It's possible we are in a mini bull flag, a smaller version of the bigger bull flag.

hokask

Yes I would say there is currently blood in the street, we are currently at the blue trendline, which is very important historically, I expect a big bounce one similar to the previous bounce we had.

hokask

As you can see the green trend line is our last support, this has historically been strong support for the bull market, if this break's it's the end of the bull run, but beware of wicks.

hokask

This might be the case, but I can't be 100% sure.

hokask

I think this might be a bear trap a fakeout, this might be the case for falling wedges. If you look at the volume there have been no breakout of the previous volume candle, this might be just a trick for a big short squezze incoming.

hokask

Chance of this breaking to the downside is really low, I would enter here. We are at the bottom of this bull wedge plus bullish divergence plus it seems we have been supported on the top of the bull wedge, all signs are bullish to me.

hokask

Bitcoin going below 200 daily MA doesn't look good, but I think it might be a bear trap, BTC seems to be forming a bull wedge. I'm still bullish.