OH! BITCOIN And The DISASTROUS Evening Star- Pattern Recognition
Updated
Dear Friends
D4rkEnergY is here to spread LOVE and WISDOM to you guys. And YOU SHALL have it:
Pattern recognition is crucial to humans. Humans and animals who master this skill the most, have more chances to survive and evolve. The same thing goes for TA and trading.
Let us step into the picture millions of years ago when our ancestors started to manipulate objects in their environment, things like sticks and stones, to maybe scratch or scrape or dig, thereby beginning a process which in the long run changed the environment in ways no other species has done.
Hundred of thousands years ago our ancestors looked up in the sky, and tried to figure out what was going on. They didn't know better that time, so every culture back then believed, that the weather, comets or supernovas were signs from a God. Bad or good things were about to happen!
Do you feel hope or do you feel disbelief? Is Bitcoin a DISASTER? Did you know, that DIS-ASTER comes from Ancient Greek pejorative prefix (dus-) "bad" and (aster), "star". Bad Star! Is the Evening Star on the chart so bad? Let's take a look.
We are now looking at the 2H BTCUSD Chart.
I have adjusted the Elliott Waves now we got more date. As you can see we have the Subwaves in Orange and the Primary Waves in blue. Once again I've used Elliott Wave Theory and Trendbased Fibonnacci Tools to determine the targets.
Here are the 2 scenarios:
BLUE: I here assume we are done with the 1st EW, and are now in the process of a C-down correction on the 2nd EW. As you can see, we can go down to a 50 % retracement, which is what the EW guidelines suggest and still above the Downtrend channel. Furthermore we will go just under 8,000 USD, which is a perfect spot to start over 3rd Primary EW. If we manage to break out the smaller channel we are in Safe Heaven!
We can also retrace less, but that is not necessarily a good thing, since we need a good momentum to break out of the channel! And so far there has been a LOT of resistance at 8,600 USD.
RED: This will take us to 6,000 USD, which I also told you about yesterday. Let me start saying, if we go back in the downtrend channel we will have a lesser chance to come up again. So we really don't want to retrace much more than 50 %. If we don't manage to get out of this channel very soon, we will slowly be pursued down the path to 6,000 USD, and we will still be part of the bigger corrective pattern.
THIS WILL INDEED BE SOME EXCITING DAYS!
D4 Loves YOU <3
Remember to give A LIKE and the SUNSHINE from our STAR will shine on you all DAY. Thanks my friend <3
D4rkEnergY is here to spread LOVE and WISDOM to you guys. And YOU SHALL have it:
Pattern recognition is crucial to humans. Humans and animals who master this skill the most, have more chances to survive and evolve. The same thing goes for TA and trading.
Let us step into the picture millions of years ago when our ancestors started to manipulate objects in their environment, things like sticks and stones, to maybe scratch or scrape or dig, thereby beginning a process which in the long run changed the environment in ways no other species has done.
Hundred of thousands years ago our ancestors looked up in the sky, and tried to figure out what was going on. They didn't know better that time, so every culture back then believed, that the weather, comets or supernovas were signs from a God. Bad or good things were about to happen!
Do you feel hope or do you feel disbelief? Is Bitcoin a DISASTER? Did you know, that DIS-ASTER comes from Ancient Greek pejorative prefix (dus-) "bad" and (aster), "star". Bad Star! Is the Evening Star on the chart so bad? Let's take a look.
We are now looking at the 2H BTCUSD Chart.
I have adjusted the Elliott Waves now we got more date. As you can see we have the Subwaves in Orange and the Primary Waves in blue. Once again I've used Elliott Wave Theory and Trendbased Fibonnacci Tools to determine the targets.
Here are the 2 scenarios:
BLUE: I here assume we are done with the 1st EW, and are now in the process of a C-down correction on the 2nd EW. As you can see, we can go down to a 50 % retracement, which is what the EW guidelines suggest and still above the Downtrend channel. Furthermore we will go just under 8,000 USD, which is a perfect spot to start over 3rd Primary EW. If we manage to break out the smaller channel we are in Safe Heaven!
We can also retrace less, but that is not necessarily a good thing, since we need a good momentum to break out of the channel! And so far there has been a LOT of resistance at 8,600 USD.
RED: This will take us to 6,000 USD, which I also told you about yesterday. Let me start saying, if we go back in the downtrend channel we will have a lesser chance to come up again. So we really don't want to retrace much more than 50 %. If we don't manage to get out of this channel very soon, we will slowly be pursued down the path to 6,000 USD, and we will still be part of the bigger corrective pattern.
THIS WILL INDEED BE SOME EXCITING DAYS!
D4 Loves YOU <3
Remember to give A LIKE and the SUNSHINE from our STAR will shine on you all DAY. Thanks my friend <3
Note
We have a serious break out attempt from Bitcoin at this very moment! 8,800 USD -This happened with only a retracement on less than 38,2 %.This will be really interesting to follow. I might adjust the EW structure for you later for you.
D4 Loves You <3
Remember to give a BIG LIKE for the updates.
Note
Here you got the NEW adjusted Primary and Sub-wave counts for the new bullish scenario. Let's see if it will play out. The bulls haven't won yet, but it definitely looks better now than it did 7 hours ago. I will keep getting you updated! You are welcome, guys :)
Note
So far so good. It matches the new Elliott Waves. Go go go!!Note
Almost 9,000 USD! I will make a NEW chart very soon where I will explain, why it's so important that we reach 9,700 USD and finish our 3rd Elliott Wave.You should definitely be looking forward to this <3 Remember to GIVE A LIKE, my friends!
PEACE!
Note
We are finally above 9,000 USD and has entered a zone of confluence resistance! Please take a look at my new chart where I give you an overview. Thx a lot my friends <3Note
New Chart: DRAMA! BITCOIN to 10,000 USD NOW - Here Is WHY It's So Important
Note
We are just under 9,100 USD at this moment! Bitfinex is DOWN at the moment, so all prices are frozen on that exchange. The bulls are trying to escape from the flag/ascending triangle on Coinbase, where this chart also is from.I promise you to keep you updated <3 Remember to give a LIKE :)
Note
sorry, wrong chart :(
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