After viewing many charts, hundreds, thousands? Try to imagine from experience of how this chart will look in a month, 2 ,3,6 months...IF it does go up from here to ATH's, THEN the chart would stand out in contrast with virtually any chart you've ever seen and undeniably prove the level at which BTC is manipulated. We'll have to wait and see how much they...
Look what has happened to price each time BTC drops below the base line of the 80 period Bollinger band (blue line) on the daily chart
Check BitStamp or any chart with a longer history to see a more dramatic depiction
The white box just so happens to be the golden zone of the correction for the 2019 ATH
It could take time or could be fast
We have gotten hints of...
And allow the alts to pump while you (BTC) tiptoe down to where you're headed/0.618
Just to blast off to your next destination and leaving alts behind as peeps sell-off to jump on for a temp ride (or so they think) then, as ppl jump back into their alts as BTC takes a short break only to blast higher unexpectedly, smashing through top of the channel causing FOMO...
The 70 period BB baseline has been resistance and now the 50MA is acting as support creating a pinch and an apex at the blue line which is the 1.0 tong of the pitchfork which I expect to break down. So keep an eye out for this move. Check related idea to see zoomed out pitchfork
It didn't seem like the massive sell-off by the algo's at the golden zone I had anticipated but it appears the golden zone which is also the top of the channel, as well as the gann fan 8/1 from Dec 2017, could be in play as resistance to begin the correction & completing Wave D & now down to the .618 & bottom of channel 2 for Wave E (if this count is correct)
It looks like multiple indicators point to the .618-.65 as the next target
before a retrace to the .618-.65 of 2019 hight of June 26 which would be a likely target for algo's to sell
The daily MACD is bullish but lower TF's imply a needed correction IMO
So short term bearish if corrections are considered bearish. I believe they''re normal and healthy unlike the...
Then up for 3 down for & up for 5
targets marked -green boxes
Wave c/2 could still drop to the .618 fib as noted in previous chart but Beetcoin hasn't been listening to me so something to still consider
but it looks like it wants to test that upper triangle TL on Wave 3 which happens to be at the 1:1 fib ext
Do we really need to have the entire EW history charted or can we simply eyeball & count 5,3,3,5 waves? Especially when sub-waves previous to the impulse don't exactly subdivide according to EW rules but are confluent with other indicators
Looks like with one indicator alone we have some levels that'll require some bulls, not to mention previous resistance levels. Just thought this may be relevant
Good luck and don't take any wooden nickels