Bitcoin cycles
Updated
Bitcoin couldn´t break through the upper side of the descending channel (8500).
After the spreaded FUD through the delayed ETF, Bitcoin has now dropped further through
important key levels which now confirms the continuation of the downtrend.
The last 3 beartrends marked on the chart have lasted approximately 51 days,
if this date range holds true for this downtrend too then a new bullrun should start at the end of September 2018,
where the decision for the delayed Bitcoin ETF will take place (30. September).
Coincidence?
I think not.
Personally I am out of Bitcoin and Altcoins and will re-enter the market once we tested the downside
of this massive channel again, where I´ll stock up heavily again using Fib levels as guidelines additionally.
Once we break out of this channel we will probably never return to this price range
so make the best out of this once in a lifetime opportunity.
That´s it from me, play smart, play safe and play to win!
Yours truly, Kaizer
*Idea inspired by Crypto Nerds
After the spreaded FUD through the delayed ETF, Bitcoin has now dropped further through
important key levels which now confirms the continuation of the downtrend.
The last 3 beartrends marked on the chart have lasted approximately 51 days,
if this date range holds true for this downtrend too then a new bullrun should start at the end of September 2018,
where the decision for the delayed Bitcoin ETF will take place (30. September).
Coincidence?
I think not.
Personally I am out of Bitcoin and Altcoins and will re-enter the market once we tested the downside
of this massive channel again, where I´ll stock up heavily again using Fib levels as guidelines additionally.
Once we break out of this channel we will probably never return to this price range
so make the best out of this once in a lifetime opportunity.
That´s it from me, play smart, play safe and play to win!
Yours truly, Kaizer
*Idea inspired by Crypto Nerds
Note
As you can see BTC bounced off the 0.618 fib perfectly!That just shows how important fib levels are on the higher timeframes.
Note
On the 4h chart we can see a H&S forming which could confirm the continuation of the downtrend. Heavy resistance is also at .382 fib ~6800-6900 (Don´t buy BTC before this level!) and support at 0.618-0.65 fib ~5750-5850.If one of these levels gets broken then you will know whether we fly or fall.
Note
Sorry for the lack of updates, will no doing more updates frequently since I am now trading fulltime.Looking at my chart from a few months ago, my arrow down did indeed predict a further downmove and seeing that we closed even below this downtrend channel this can go down very deeep.
Just posted a new chart on what we could expect next.
Kind regards,
from Kaizer
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