CoinChartist

CoinChartist

Bitcoin has potentially completed a bull market cycle and could have begun its bear market cycle.

CoinChartist

Price closed back inside the lower Bollinger Band forming a Doji with limited Band expansion following a Squeeze setup. This feels like a Head Fake to the lower band, which is usually followed by a sharp move to the upper band.

CoinChartist

Every Bitcoin wave terminated at the 1.618 Fibonacci extension of subwaves i through iii Will it happen again? Or will we terminate at the 1.618 Fibonacci extension of waves 1 through 3 instead? I've marked this sweet spot in red as the ideal sell zone for me This sweet spot is between $169K and $194K I find these to be very reasonable price targets for BTC...

CoinChartist

With this potential breakout and continuation, the next major TA task is trying to predict the "top" in Bitcoin I am looking for an extended wave 5 with a target of 1.618 of waves 1 + 3 Peak right at the 12-year cycle crest - cycle began in 2018, not in 2022 as most people think

CoinChartist

Bitcoin 6W Bollinger Bands - Each time, after the bottom was put in, within 7 bars BTC hit the upper Bollinger Band. In 2019, it did it in only 5 bars. In 2023, our 5th bar just opened. If BTC were to once again follow this trajectory of hitting the upper BB within 7 bars, this would suggest that we'll see BTC at $64K or higher within 3-4 months or ~120 days. I'm...

CoinChartist

I have removed the angles used to create each channels for easier visual digestibility, but uptrend and downtrend channels are based on the same angle. If Bitcoin were to be entering an impulsive phase, there is a strong probability that it follows the same trend angle, making this channel a possibility. I am publishing the content to see if Bitcoin follows this...

CoinChartist

Although the sentiment is incredibly bearish and the world expects the stock market to underperform, it has left thin order books, low liquidity and volume, and an overly emotional state of the market. Considering how certain most analysts, traders, and investors are that a recession is already here, most are in cash, short, or sidelined. This state of the market...

CoinChartist

I suspect altcoins get brutalized during the next correction for whatever reason, but BTC stands stronger - hence what I see in the BTC dominance chart. Alts are about to face a C-wave against BTC. The bottom of wave II in BTC.D happened when Bitcoin broke above its former ATH of $20K the first time in December 2020. In January 2021, it immediately turned back...

CoinChartist

The Elliott Wave Guidelines of Alternation appears to be in full effect in BTCUSD - that is if the bottom of what appears to be a wave 4 is in. Wave 1 After the end of the bear market, we got what looks like a wave 1 impulse. Wave 2 is the first major corrective phase, which is where our story of alternation begins. Wave 2 In Elliott Wave Theory, wave 2...

CoinChartist

I was able to accurately predict a breakout of BTC in 2020 by plotting 144 weeks from the 2017 ATH with a Gann fan. I believe that the Gann fan can also accurately predict when the next BTC peak will happen, around mid-June 2023.

CoinChartist

Simply put, cyclically, it is once again time for Bitcoin to go up.

CoinChartist

Bitcoin is about to blindside a lot of bears and embark on a wave 5 reminiscent of the final wave in 2017. I believe it will fill out the same channel once momentum flips and provide a blow off top in crypto for years to come.

CoinChartist

Using the BTC CME chart as the most dominant chart, we what appears to be a fresh motive wave forming, starting from the 2018 bear market bottom. Wave 1 failed to set a new ATH, leaving BTC to retrace most of wave 1 in wave 2. Wave 3 was a massive leg up, followed by an expanded flat correction in the wave 4 zone. Wave 4 should not retrace into wave 1 or else it...

CoinChartist

My EW counts and cyclical tools suggest there is one more rally in Bitcoin left before things get bad out there for all assets and we see a Great Devaluation event.

CoinChartist

Elliott Wave Theory potentially provides us with a roadmap. When paired with cyclical tools like time cycles and a customized Fisher Transform from Moe_mentum, a new cycle blossoming from here is possible based on past cycles.

CoinChartist

Litecoin could be a surprise performer for the crypto market in the days ahead. Regulation could push capital away from most other altcoins, while Litecoin gets a seal of approval that final gives it a spark. This expanding ending diagonal fits the theory extremely well.

CoinChartist

Bitcoin has potentially completed its wave 4 expanding triangle, just as a cyclical timing model that shifts between impulses and bear phases suggests a new impulse. Elliott Wave Theory provides clear characteristics regarding each wave. The bear market began in 2018 after the 2019 high. The bear market was an ABC correction, with the B-wave as a triangle....

CoinChartist

Read the characteristics of Bitcoin waves and you decide what's next.