Potential Bitcoin BEARISH Expanded Flat Pattern & Time
I decided to post this idea due to its remarkable resemblance in time with the prior correction. From my perspective, the prior count's corrective wave A in 2021, it appears to be the same length in time as the wave A in my potential flat idea in late 2022 & Jan 2023.
If we continue with the prior corrective wave C it appears to have taken place over a duration of 54 weeks & 378 days(approx). Again if we look at where I began my wave C in my potential idea, time has arrived at or nearly the approx time as it did in the past. Will this play out?
Time will tell,no pun intended
In my humble opinion....................
All The Best!
Note
Correction above: Meant to say with my potential EXPANDED flat idea. Thanks for understanding........Trade active
From my perspective the Crypto Fear & Greed Index appears to have formed a potential head & shoulders top. I used a 1 year chart, 3 month & one month.IMHO
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Small new idea posted. However, pattern already reached target. IMHO
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NEWSBitcoin Whales Are Cashing Out Amid Push To New All-Time High
Mar 13, 2024
WHY ARE THEY CASHING OUT IF MR.SAYLOR(bitcoin poster child) SAYS NOT TO SELL ANY DUE TO IT POTENTIALLY RISING INTO NEVER NEVER LAND???
IMHO
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My new idea posted under title:Meme Coins Like PEPE Pay Out MORE Than Bitcoin
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NOW THIS my friends is a good article, in my humble opinion....Mar 13, 2024
Bitcoin price entering ‘euphoria’ zone amid wealth rotation from ‘HODLers to new investors’ — Data
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Here we go, another one sounding an alarm bell, in my humble opinion.Article title:
Bitcoin Could Drop to 58K as Cool-Off Period Is Imminent, Swissblock Says
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Up above I had written about a potential H&S top in Crypto Fear & Greed Index. I erred since it now moved to 88, an 88.6% retracement from the peak at 90 down to the 75 low to where it is now back at at an euphoric level bordering irrational exuberance. Has the potential H&S top pattern failed? Not yet.In my humble opinion........
Quote:
"Traders purchase more quantities of a stock, assuming its value has potential to grow. Due to the herd bias, as the asset value rises higher more and more traders tend to follow the suit driving the price further up to surpass the asset’s intrinsic value and form a bubble.
As there is no fundamental reason for the higher asset prices, it will eventually burst and go into market correction, resulting in a panic sell-off."
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