Riester

Riester

Bitcoin has once again returned to a point of decision. Where will it go? Camping just under 7400, Bitcoin must soon make up its mind. It to pre-pandemic levels, or once again crashing to the mid 4000s? First things first, let's define the trend lines sprawling amongst this chart. In green we have a multiyear bullish trend channel, marking the mean price...

Riester

Bitcoin is arriving at a critical point. Will it return to pre-pandemic levels, or sink with the rest of the ships in the proverbial sea? Only time will tell, but this analysis is leaning towards the latter. This chart is a mess of indicators so let me break it down piece by piece, starting with the Darth Crypto Indicators. The fuchsia colored 222D EMA acts as a...

Riester

The present trading channel is clearly bound by strong S/R. The bottom bound being ~8400, and the upper bound being around ~10500. Within this S/R channel, I overlaid a White FIB Chart. Using the FIB Chart, the price reversals of 2020 are easily visible. Prediction: The current upward impulse will end around March 27 @ $9600 Reasoning: A strong S/R exists at...

Riester

Who doesn’t love comparing apples to apples? Or how about halvings to halvings? Or correction to correction? Or one Bitcoin trip to the moon to another? Yah, me too… Disclaimer: This is not investment advice (you’ve heard this before). I am marking similarities between the 2016 and 2020 halvings. See for yourself, and deduce for yourself. What I say is based on...

Riester

A Fibonacci Channel was laid over the entire history of Bitcoin (2011 to present). The bull runs and bear runs perfectly tap against various fib levels. After the recent jump to 0.5 ($13,800) we are declining and heading towards the 0.382. For the bulls this is bad news, as 0.382 is around $6800. For you bears out there... congratulations! After it taps against eh...

Riester

These charts show a correlation between the Double Bull Runs of 2012-2013, and the potential Double Bull Runs of 2017-present. I began by laying a fibonacci graph over each bull run and identifying various similarities between the past and present. Set Up: The 1.00 level starts at the lowest support/resistance in the bear run leading up to a bull run, which was...

Riester

Set Up: The Fibonacci Channel begins on August 6, 2012 when a new resistance @ $13.00. A trend line (dotted bright blue) follows the support/resistance areas over time. The Fib Channel ends on September 23, 2019 when the price finally broke the $10000 support level. The Fib Channel began at the beginning of the new bull market in 2012, and ends around the present...

Riester

This chart has multiple pieces so let’s break it down slow and steady. The ultimate goal of this idea is to predict the price of Bitcoin leading up to the 2020 Halving by analyzing the 2016 Halving. The top chart shows the months leading up the 2016 Halving with a Fibonacci graph laid over top. The bottom chart shows the months leading up the 2020 Halving with a...

Riester

The chart begins with the yellow channel defined by support/resistance boundaries. Next, three trend lines were drawn (two purple lines and one blue line). The two purple trend lines follow short term support/resistance points until they converge with the upper yellow channel boundary. Similarly, the blue trend line follows support/resistance points, but projects...

Riester

A Fibonacci graph is applied over the last 4 years. The 1.00 level is at a strong resistance of $320 in Nov 2015. Once the price broke $320 it began the bull run that brought us to $19,600. The Fibonacci 0.5 level is established at the 2017 peak of $19,600. Naturally, the 0.618 level is right around the recent impulse to $13,800. However, I'm more interested in...

Riester

A Fibonacci graph is applied over the last 4 years. The 1.00 level is at a strong resistance of $320 in Nov 2015. Once the price broke $320 it began the bull run that brought us to $19,600. The Fibonacci 0.5 level is established at the 2017 peak of $19,600. Naturally, the 0.618 level is right around the recent impulse to $13,800. However, I'm more interested in...

Riester

The long term chart on top has a Fibonacci graphic with 1.00 at the genesis of the 2017 bull run, which was around January 2015 @ $197. It ends at the peak of the 2017 bull run around $19,800 in December 2017. The recent impulse to $13,800 established a resistance level around $13,200, which happens to be 23.6% on the Fibonacci graphic. From June to July 2019,...

Riester

Over the last 8 weeks BTC formed a Double Top where it brushed against 13.8k. From there I used Fibonacci from the base of the Double Top to the 13.8k peak. This identified support levels at 9300, 10200, and 10800 or 1.00, 0.786, and 0.5 respectively. The white descending wedge from the peak to the current price shows a trend down to the 9300 support. The 1.00 Fib...