This has been forming since Nov 2022. BTC bottom of cup $15460; top of cup $18100; cup depth $2640. Target since the resistance has been broken is about $20740
This is the BLX daily chart. The following are the 14 times in Bitcoin's history that have given buy signals as good opportunities to buy Bitcoin for long term accumulation: 12/21/11 Buy $3.89 6/19/12 Buy $6.49 2/7/13 Buy $22.04 1/28/15 Buy $234.61 5/6/15 Buy $229.86 5/17/15 Buy $236.49 6/18/15 Buy $249.02 1/9/19 Buy $4020.12 12/27/19 Buy ...
The final Elliot Waves I am following to project a BTC final bottom to this bear market (Coinbase prices): Aug 15 B Minute 0 $25214.57 Oct 13 Minute i $18131.00 -$7083.57 Nov 5 Minute ii $21478.80 $3357.80 47.4% of Minute i Nov 9 Minute iii $15512.00 -$5966.80 84.2% of Minute i Nov 10 Minute iv $18140.62 $2628.62 44.1% of Minute iii Nov 14 ...
There are many metrics that a long term investor should consider in trying to time buying Bitcoin near bear market lows. One indicator is the Pi Cycle bottom indicator. This is the BLX daily chart which goes back to the Jan 2015 and Dec 2018 lows. The 2015 Bitcoin bear market low was Jan 14th at $163.88. The Pi cycle bottom indicator showed that was exactly...
This is a monthly chart of the DXY charting its supercycle bear market since the 164.72 top in Feb 1985. The supercycle and lower Elliot waves for the DXY are as follows: (0) Feb 1985 164.72 (a) Sep 1992 78.19 (b) Jul 2001 121.02 a Mar 2008 70.70 Primary 1 Mar 2009 89.62 Primary 2 May 2011 72.70 BTC created in "Satoshi Whitepaper"; BTC...
The reason I can see far into the future on the potential of Bitcoin's price are the bitcoin log growth curves put out by Cole Garner on Trading View several years ago. 95% of the time the Bitcoin price has stayed within the bottom and top curves historically since Bitcoin's inception on the exchanges. I have plotted all intermediate Elliot Waves for the 4...
I'm going to give a few reasons 11/10/21 could not possibly be the top of the bull market which started 12/15/18 at $3128.89. This will be the first: The Fear and Greed Index on alternative.me which was developed during the 2018 bear market. Greed Index at the 6/26/19 wave (1) $13868 top was 92. At the 3/13/20 wave (2) $3858 bottom it was 8. At the 4/14/21 wave...
There have been a few times in Bitcoin's history when it has dropped to the 200 wma: week $BLX low 200 wma % of 200 wma 1/19/15 $163.88 $193.48 -15,3 4/20/15 $214.55 $208.92 2.7 6/1/15 $221.22 $215.59 2.6 8/17/15 $198.72 $229.78 -13.5 12/10/18 $3148.33 $3183.30 -1.1 2/4/19 $3354.29 $3321.30 1.0 3/19/20 $3941.21 $5511.12 -28.5 Notes: 1. Only six weeks in...
I've seen Optical Artdotcom and even Bob Loukas entertain the notion that Bitcoin is going to retreat 80% in a bear market down to $14000 as a probability to a possibility. I'm sure there are others. However, there is no basis for this in previous cycles. In the 2011-13 bull cycle intermediate wave (1) high was $16.41 in Aug 2012. Intermediate wave (4)...
For people who are bored with the market now (and I am one of them), let me remind you that Bitcoin follows Pareto's principle: 80% of its price move is made in the last 20% of the time in the bull cycle. Actually it's about 90% of the price move in the last 20% of the time in the bull cycle. 1st Bull Cycle: 7/18/10 $0.06 beginning of trading on...
I recommend you watch Bob Loukas' video posted earlier today on Bitcoin Live before you read my comments and take on what he had to say. Having said that, I have my own thoughts to agree and disagree with what he said. He said he thought since the blowoff top didn't occur in the time frame he had originally projected, meaning the end of 2021, that it is...
Minor wave 1 of this wave C since 11/10/21 went to $39650. Minor wave 3 of this wave C since 11/10/21 went to $32933. Minor wave 1 was $12500 in length. Minor wave 3 was $11500 in length. This minor wave 5 which is now beginning should go from $39000 to about $26500 in the next 2 weeks. That will complete intermediate wave (4) which started at $64899 in...
The middle curve on the bitcoin log growth curve indicator by Cole Garner represents fair value for bitcoin. Historically here are the times when bitcoin was either overvalued or undervalued: Oct 2010 to Apr 2011: 7 months below May-Aug 2011: 4 months above Aug 2011-Mar 2013: 19 months below Apr-May 2013: 2 months above Jun-Oct 2013: 5 months below Nov...
Wave (4) in 2017 went from $3000 to $1758 from June 12th to July 17, 2017, a 41% decrease from $3000 to $1758. Bitcoin then went over 11 fold to finish the bull market and wave (5) five months later on 12/17/17 at $19892. This wave (4) now is capitulating and coming to an end soon. Wave (3) went up too far with BTC going from $3858 to $64899, a 16.8 fold move...
IMX has been listed on both Coinbase and Binance. On Coinbase the chart pattern has been an ABC correction since the beginning of trading. It looks like it bottomed the C wave on Jan 11th. The impulse after and the correction hit the 0.618 Fib retrace. IMX looks like an excellent buy and is undervalued to its beginning of trading.
There is not much data on ACH yet; it's just been listed by Coinbase and Binance, however. 1. The 4.236 Fib potential of the extension of the beginning of trading, wave (1) and wave (2) is $1 by year end. 2. ACH is undervalued now compared to its potential by year end. ACH could 16x the current price.
Reasons DOT is now undervalued: 1. Trendline support since Sep 202 was hit on 1/10/22 at the $22.20 bottom. 2. ABC wave (4) correction since 5/10/21 is probably finished at the $22.20 bottom. 3. 4.236 Fib extension potential of the intermediate waves (2), (3), and (4) is $221.40, about 8x the current price. 4. ATH of $56.22 should be obliterated in...
Reason 1: This C wave from $69000 on Nov 10th: Minor wave 1 is $13400 in length; minor wave 3 is $18100 in length, minor wave 5 is $12500 in length. Minor wave 5 is roughly equal to minor wave 1 which principle is often followed in Elliot Waves. Reason 2: The line from Intermediate Wave (3) to Intermediate Wave (4) has many support and resistance areas that...