Good morning all Hope everyone is having a great weekend! Cryptopians , I bring you what I believe is going to take place over the next few weeks..... Pay attention to what may be happening today.
We are coming to the end of the week and end of the month here with a big red candle about to close under the 61% level.
What does this mean... ?
Well it could mean that were Invalidating the Ascending fib up.
What does that mean ?
Is it over??? NO!!!
Its not over.
Do not panic.
It just means that the same thing that happen in 2014 could be happening again......
It means opportunity....
So here are some positives... We are in mass adoption now...
We have had huge institutions getting involved and many more exchanges opening, platforms, etc...
.. we have so many more people now...
We have come so far. We have come up 12,100% from $162 bitcoin we saw back in August of 2015.
Remember this... When everyone was giving up then... when everyone was saying its probably over... it had been a long time .... but we seriously recovered didn't we???? And we will recover here! Were seeing some nice bullish presence and we will go back up.
So I am believing we are due to head back to $10,000. Whether from here.... or we go a little lower ... and touch that $6000....then go... doesnt make a difference honestly... we went to $6600... ... but yeah... were for sure heading back to $10,000.... its the 50% level... and we will most likely see a resistance form there... and this play out. We need to keep our eyes on that point. If we break through $11,000-$12,000 and make $10,000 SUPPORT. I will dismiss this whole scenario then!!!!! But if we hit 10,000 and come back down... then... this is what will happen...
If we close the week and month under the 61% I'm believing we see a bearish few weeks/months.... bringing us down to lowest.... $2000-$3000 Bitcoins... which would be around that 88% level. Thats what happen in the past... and HISTORY has a funny way of repeating it self. Remember though... first we "SHOULD" go to $10,000.... because on the daily charts...RSI AND STOCHASTIC ARE APPROACHING OVERSOLD LEVELS at this current moment...
... Which means we see that run up to $10,000... but 10,000 is also the 50% level and it may act as resistance this time....
Also lets looks at RSI and Stochastic... do you see the support and resistance levels I drew? Well I believe we are about to bounce up... to $10,000 soon... but then come back under the support and go to support on the bottom... but thats when we reach $2000-$3000 bounce up and take back off to a whole new high ... months later....maybe even a year....
The point here... and lesson to be learned is that if we do in fact see history repeat itself...
What should we be doing when we reach the 88% level???
We should be buying.... when the news and everyone is saying BTC is dead and dying... we should be buying. History proves BTC makes come backs... and is a overcomer!
Note: the dates are not for certain here... nothing is for certain... this is only a educated guess based on what the charts have told us from the past... Once again I am not responsible for any losses you incur if you buy sell or whatever you do. I am only posting this for educational purposes to point out an oddly similar scenario panning out.
I'm a believer in bitcoin , and I believe its here to stay and will grow... .. we need to have patience and stick with what we believe in. We do not need be throwing in the towel just because we correcting .... we shouldn't be saying its dead... some things need to be trimmed for new growth...
so were seeing a little trimming back ... a little profit taking... from an incredible 12,000% run over the last 800+ days...
What bitcoin will grow to will be even greater then it has been. It will reach new highs.
We are coming to the end of the week and end of the month here with a big red candle about to close under the 61% level.
What does this mean... ?
Well it could mean that were Invalidating the Ascending fib up.
What does that mean ?
Is it over??? NO!!!
Its not over.
Do not panic.
It just means that the same thing that happen in 2014 could be happening again......
It means opportunity....
So here are some positives... We are in mass adoption now...
We have had huge institutions getting involved and many more exchanges opening, platforms, etc...
.. we have so many more people now...
We have come so far. We have come up 12,100% from $162 bitcoin we saw back in August of 2015.
Remember this... When everyone was giving up then... when everyone was saying its probably over... it had been a long time .... but we seriously recovered didn't we???? And we will recover here! Were seeing some nice bullish presence and we will go back up.
So I am believing we are due to head back to $10,000. Whether from here.... or we go a little lower ... and touch that $6000....then go... doesnt make a difference honestly... we went to $6600... ... but yeah... were for sure heading back to $10,000.... its the 50% level... and we will most likely see a resistance form there... and this play out. We need to keep our eyes on that point. If we break through $11,000-$12,000 and make $10,000 SUPPORT. I will dismiss this whole scenario then!!!!! But if we hit 10,000 and come back down... then... this is what will happen...
If we close the week and month under the 61% I'm believing we see a bearish few weeks/months.... bringing us down to lowest.... $2000-$3000 Bitcoins... which would be around that 88% level. Thats what happen in the past... and HISTORY has a funny way of repeating it self. Remember though... first we "SHOULD" go to $10,000.... because on the daily charts...RSI AND STOCHASTIC ARE APPROACHING OVERSOLD LEVELS at this current moment...
... Which means we see that run up to $10,000... but 10,000 is also the 50% level and it may act as resistance this time....
Also lets looks at RSI and Stochastic... do you see the support and resistance levels I drew? Well I believe we are about to bounce up... to $10,000 soon... but then come back under the support and go to support on the bottom... but thats when we reach $2000-$3000 bounce up and take back off to a whole new high ... months later....maybe even a year....
The point here... and lesson to be learned is that if we do in fact see history repeat itself...
What should we be doing when we reach the 88% level???
We should be buying.... when the news and everyone is saying BTC is dead and dying... we should be buying. History proves BTC makes come backs... and is a overcomer!
Note: the dates are not for certain here... nothing is for certain... this is only a educated guess based on what the charts have told us from the past... Once again I am not responsible for any losses you incur if you buy sell or whatever you do. I am only posting this for educational purposes to point out an oddly similar scenario panning out.
I'm a believer in bitcoin , and I believe its here to stay and will grow... .. we need to have patience and stick with what we believe in. We do not need be throwing in the towel just because we correcting .... we shouldn't be saying its dead... some things need to be trimmed for new growth...
so were seeing a little trimming back ... a little profit taking... from an incredible 12,000% run over the last 800+ days...
What bitcoin will grow to will be even greater then it has been. It will reach new highs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.