BITCOIN Elliott Waves (the new Bullish Cycle coming Soon)Hello friends.
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Everything on the chart.
I believe that we are waiting for the final growth for the coming decades - the last chance to make money on the crypto.
Wave and other analysis techniques allowed us not only to predict this growth in advance, but also to set a target of approximately $250000.
And the critical level for the count is just below $14,000. Now these levels can be used to take a long investment position.
Target for wave 5 OF (5) - it's zone 220-280k$.
cancellation of scenario - cosolidation under ~13000$.
Even if something went wrong(I put 10% on it) atleast im sure that we will see roolback in zone ~27-29k coz there we have gap on CME.
Summing up, I think that now is the best time and entry point into a long-term investment and the best chance to earn a fortune over the next 3-4 years. Dont miss it.
Good luck everyone!
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions.
BLX trade ideas
Bitcoin - Yearly OpensI know, BTC is a new asset class and we shouldn't take the yearly timeframe into consideration, but just to mention that 28.9K is the yearly open. Maybe we would find a bottom at this region.
Next open would be 2018 at 13.8K (2019 touched and it got rejected badly). Another area where price could pullback is the 19.7K region. It would make an SR Flip
just pure speculation
$ 3.200 as bitcoin bottom (open for discussion)In a few words: This alternative scenario for BTC is mainly based on log-fib relationships. According to it BTC is in wave (4) of its major cycle which would have a high probability to end around $ 3.200. In this case wave (4) would reach the 0.382 (log) of the length of wave (3) which happens to be the exact bottom of wave iv.
Please note, this is just an alternative scenario. No FUD intended and mainly directed to other EW-analysts.
Open for discussion.
BITCOIN AT THE BOTTOM OF PITCHFORK WITH WEEKLY DIVERGENCEA lot of negative sentiment on the market right now, and with everyone expecting BTC to drop to 12.000-10.000 area, there is a high probability that BTC creates even temporary bottom. Fear index currently at 23 (extreme fear).
Also BTC is near the cost of production, and historically BTC always bottomed above the value of production.
As you can see BTC price respected this pitchfork throughout the whole bull run. That doesn't mean it would be saved by 2X extension. It could still pierce trough the support, create the capitulation bottom, and then slowly bottom out here.
Nice area to dollar cost average, and to start buying.
Bitcoin repeats 2018 + gigantic RSI falling wedgeIn 2018/2019 BTC fell 48% to 3.2K after it broke the 6K support (see orange line).
Now, after a very similar sideways trading pattern during this bear market, we broke support at 19K.
We expect bitcoin to fall around 48% (similar as in 2019) to 9.5K ... coinciding with a .618 retracement level from HTF low (3K) to HTF high (69K)
RSI FALLING WEDGE
In the mean time a giant falling wedge has been forming in the weekly RSI.
We expect the next Bull-run to start after a confirmed break to the upside out of this wedge.
Bitcoin - BTC never lower than $17,607 again❌🟩❓Bitcoin
BTC never lower than $17,607 again ⁉️
Invalidation sponsored by FTX misery🚨
But TRIX indicator again with next clear higher point❌that might give a hint for the next BULLISH run dear Crypto Nation😉👀
Weekly close important
Let me know your thoughts in the comments🤗
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Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
Bitcoin's Price Prediction For 2024 HalvingIn this chart Bitcoin's price is lined up from previous cycle peaks showing the duration of the bear market until next halving of the miner's reward.
What do you think from the perspective on this chart.
Do you think Bitcoin's price will be above or below $24,000 at the next halving?
Bitcoin Has Always Been In WyckoffHere we can see Bitcoin has always been in some type of Wyckoff trading range since the VERY START!!! This is an absolutely crazy find! I do not know for sure about the $0.01 wick, but it is what it is. And as of right now Bitcoin may be in Wyckoff Accumulation! As I've been projecting for a few weeks now. I called the $16,800 crash from a bear flag and the bigger 1.618 Fibonacci target from Bitcoins previous low at $28.8k to the high of $69k ;) gave an exact target down to that level. And when i drew that fib, i saw Bitcoin was inches away from it and i thought about Wyckoff accumulation, then put two and two together and it could lead to a spring in the accumulation phase!!!!! And so far, Bitcoin is holding!! If bitcoin bounces back from here it could get marked up as my idea projects!!!!! Posted in related ideas and comments! I will also show the very start of BTC in accumulation in the comments! It's so crazy!
(Also sorry for the extra green boxes. I will remove the ones that aren't needed and post it in the comments so it's a cleaner chart.)
.786 Fib From Bitcoin's Inception w/Log Growth CurveFriends, I hope you are all having a good weekend! I wanted to continue on our theme from last week, regarding the .786 Fib. I know many are glued to the .786 Fib from our prior Bear Market low, as am I. BUT, I also have to consider what happens if we lose $17.2K on the MONTHLY close. Today I wanted to share the .786 from the actual INCEPTION of Bitcoin. I also included the log growth curve that many have seen before. What I found was striking! IF, BIG IF here, we were to lose $17.2K on a monthly close, there is the .786 of the entire structure at $14.7K. This level also coincides with the bottom of the log growth curve. Now I will be the first to admit I TRULY BELIEVED that $17.2K was THE LOW! And while it still could be on the monthly, both the daily and weekly have lost it. The one thing that I always want to do is admit when I am wrong, but also look to areas on the chart that give me a basis for being Bullish or Bearish on a stock or crypto. Such is my case for this chart. This is NOT an attempt to move goal posts, but rather an attempt to overlay a Fib on the Highest time frame possible that still allows for a Bullish outcome.
So for the Good, The Bad, and the Ugly:
THE GOOD NEWS: The MONTHLY CANDLE still awaits and $17.2K remains in play.
The BAD NEWS: If $17.2K is lost, then yes, another leg lower is in the cards. I know this would give Bulls indigestion, but that level is not too far removed from current levels. For me, I am willing to employ some tactical risk management in and around that key area ($14.7K)
THE POTENTIAL UGLY NEWS: If, (another BIG IF here!), Bitcoin were to close under BOTH its logarithmic growth curve AND its .786 Fib of the ENTIRE BULL STRUCTURE on a MONTHLY CLOSE, the Bitcoin Bull is indeed DEAD, and a longer crypto winter awaits with MUCH lower prices than most would like to recognize. While we would still have a retrace, it would be an A-B-C style corrective retrace with lower lows still to follow.
For me, I still remain constructive on Bitcoin. I missed the $17.2K call on the daily and weekly, to that end I am sorry. However, Time will tell if I am still right on the Monthly (which for longer term holders is what matters). For what it is worth, I have NEVER seen such bad news in all of my time in this space. The sentiment alone leads me to believe a turning point is near. While I will NEVER ADVISE ANYONE on how or where to invest, I am a believer in Bitcoin longer term. I am also willing to give the charts a little room to breathe here. I have never made a good trade or investment in haste, and I will not start now.
I wish you all the Best, and I will continue to do all I can to chart the path forward!
BTC - my main ChartHello, here´s an overview of my 2 main scenarios im basing most of my trades on.
Crypto either has another bullrun (the last one for sure before bubble popping) after testing the 10-14k support area
or the bubble is popping already and the 2020/2021 bullrun was indeed the last one.
Targets for my Bull sceanrio is ~100k USD in 2024/25 after the next halving.
Targets for bubble burst would be ~1300 USD.
Fundamentaly im bearish on Crypto as it only has few niche usecases at best.
BTC isnt scaleable and wont go anywhere because of this, its not the future of money.
What is left, is a Pump and Dump without a working product which has real world usecases.
Crypto is 99.9% scams and cant be taken serious at all, its burning tons of electricity for Ponzis/Pump and Dumps.
I personally am very skeptic if we see another bullrun but this market is anything but rational, so i guess it would be a possibility.
I give it a 20-30% chance for another bullrun. My main scenario is that we are on the way to under 2k per BTC .
A break of the green Curve would confirm to me that the bubble is bursting, if it holds we will see another bullrun.
Know this risk if you plan to buy at 10k and "bet" on another run, Btc could basically always drop another 90%.
Its just a matter of time this house of cards will collapse epically and the past drops is the recent months will be a joke to what may still be ahead. (Tether being not fully backed for example)
Be careful out there and DYOR.
Can the Pi cycle top predict the bottom?Can the Pi cycle top predict the bottom as well? Yes it can, it has on three different occasions. Coupled with the investors tool not only has it predicted 3 bottoms within 10 days but also the percentage within 7%.
In order to see view this you must be on the one day chart and use the investors tool with the Pi cycle top indicator. When the Orange line has crossed down below the the bottom of the investors tool trading range in the past it was precisely at the bottom within 10 days and has done this on three occasions that all marked the bottom. 2015 was the first time and it fell 53% (you can scroll back to see) 2018 was the second @ 45% fall and the third time was June of this year that fell 49%.
both times afterwards price action met this line (Pi Cycle orange) as resistance including this year. On both other occasions the end of the bear market was marked as soon as price action broke above and then held this line as support.
SO far it's all playing out perfectly, so for me only have we market the bottom we could be ready to flip this line in the next few weeks.
We should never use just one indicator to come up with a conclusion so it's our job to find more of them. Let's see what you have.
Cheers and thanks for looking
If you have any questions or comments please don't hesitate to comment below.
Does history repeat?The question here is, if history repeats and how accurate it may be.
Well so far it has on two other occasions irrefutably along with the RSI.
As we can see here on the 5 day chart the 21 day yellow line crossed the 200 day purple line right on schedule. In previous history the 21 day cross came after the price bottom and had direct correlation with the RSI. The RSI then formed bull divergence and kicked off the next bull run. Looking at this bear market there is almost an exact pattern playing out with all of the indictors including divergence.
I also have linked another chart with similar evidence in as well.
Let me know what you think in the chat below.
How strong do you think historical data is?
Do you think it likely plays out ?
Is this time different?
*Always drink and invest responsible*
Measured moves predicts Bitcoin bottomThis is a BLX chart. Since 2014 every measure moved has predicted bitcoin bottom, with the weekly 200 ema, currently at 22431ish being the general bottom. Green squares are the measure wave impulses. Red squares are the duplicates of the green. Bitcoin wicked down past the 200 ema 3 times. Two times at -14%, and the covid wick at -29%. Prices are marked in the chart.
Considering traditional markets, cpi inflation, fed rates, and how close bitcoin is to the 200, I couldn't imagine bitcoin going on a bullish run without tapping the 200....