pragmaticbestfit

pragmaticbestfit

MustStopMurad had this analysis where he suggested that the next BTC bottom would be around the 300 MA. Tone Vays has for a long time compared MA crosses from 2014 with todays MA crosses for estimating how far into the bear market we currently are. Yesterday when watching Tone Vays video with Vinzent and Willy Woo (first of the recent Thailand videos) Vinzen...

pragmaticbestfit

I have plotted targets from the currently most popular TV (Tradingview.com) BTCUSD ideas into a chart and used that as an forecast of where the price of bitcoin might be heading next. The targets are really split above and below $6800. Furthermore the above targets are on average a bit earlier than the targets below $6800 which might be interpreted as a couple of...

pragmaticbestfit

In my previous idea (see below) I tried to build a potential scenario for the downside. Here I will TRY to create a scenario for how things could unfold in case of a bitcoin ETF approval. I was reading a Medium article that suggested that a possible scenario was that in case the ProShares ETF got approved the VanEck ETF might still get declined. The reason for...

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4K V-shaped BTC bottom upcoming? Building upon possible fractal, bibboyne head and shoulder idea and upcoming SEC ETF dates would it be likely that we have a upcoming medium term bottom for BTC? First of all in case the ProShares ETF is approved (doesn’t sound like people belive this is likely) then this v-shaped bottom idea is out the window obviously! Also if...

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Have for some time found it likely that bitcoin would bottom out (flat) like in 2014-16 however possibly faster. The problem I have with this though is that with all the attention bitcoin has now (compared to 2014-2016) it feels a bit wrong in a way to have a long flat price period (however still possible of course). Many people has compared the Dotcom bubble with...

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We just had a pretty big move up which looks like the bottom of a channel (slightly different channel compared to my original green channel in previous ideas). My guess it that there is a potential chance that we could create an ascending triangle using the current channel and resistance lines above however this is obviously pure guessing currently. If we break...

pragmaticbestfit Updated 

After we broke out of the descending channel from 9900 top (purple) we were very shortly above the closest resistance lines. However the price didn’t manage to stay above and we are now down below resistance starting at 7640 again which seems to signal weakness. Many people are also mentioning the ascending wedge (top of green channel and white dotted line) which...

pragmaticbestfit Updated 

Sticking to my previous analysis and targets. Looks like a bear flag or ascending wedge is taking shape so could possibly signal that we are going a bit lower.

pragmaticbestfit Updated 

An ascending channel (green) might be taking shape. I had previously drawn a blue ascending channel however I am more confident in this green channel though we still need some more confirmations (especially at the bottom of the channel). I like this setup because it gives the price a better opportunity to breakout of the purple channel. Also this path would...

pragmaticbestfit Updated 

Looks like the price has made a bull flag however the chart has some pretty heavy resistance around 76-7700. From looking at the chart it seems we are being supported by the bottom of the long term support channel (green line) but that we don’t have the momentum that can bring the price up against the resistance area starting at 7600. Also volume seems to fading...

pragmaticbestfit Updated 

Setting this chart to neutral as I am not really trying to call a direction. However it seems like sentiment here on TV still is to the downside even though we might go a bit up before we go down. But I guess the joker right now it seems is buyers suddenly stepping in. Also if we close a higher low on the weekly time frame maybe that could make more buyers step in.

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Trying to create a comment poll. Have no idea if it wil work (get enough views) but would be interesting to see where TV thinks BTC is going next. If you want to participate agree below to vote.

pragmaticbestfit Updated 

Even though there has been a breakout of the blue channel it still looks likely that the top of this channel is significant and there could soon be a clear break to the upside or downside. The down side targets I see on this chart would be around 6800 (support from yellow channel) or 64-6500 (support from blue channel and previous low around 6500). I am very...

pragmaticbestfit Updated 

I have changed this chart from neutral to short. Imo this chart looks like the downside is slightly more likely. One reason I have this bias is that even if we bounce on the bottom of the big blue triangle the chart have some maybe strong resistance by a confluence area (purple descending channel, 50w MA and bottom of green long term channel) around June 2. at 75-7600.

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Tried to make the chart more precise/correct than earlier charts. Neutral. Can go both ways.

pragmaticbestfit

The way I have drawn the bottom of my 'triangle from Feb. 6.' the line has been broken. If there are not some more downside fairly soon or if my line is broken to the upside I would probably not use this line anymore. Apart from that it looks like we are really just fighting resistance from the top of 9900 channel.

pragmaticbestfit Updated 

Price being squeezed between old channels and maybe old resistance lines

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Old channel (blue) that might be keeping the price from hitting the bottom of triangle