The_Mummy

The_Mummy

Someone's got to remain positive !

The_Mummy

This current price action looks very similar to the dump in March 2020. In this chart the price action from March 2020 is in blue - with the biggest drops in the blue boxes. We are now following a similar pattern: 1) A large dump 2) A larger dump 3) A smaller dump 4) ? - a long consolidation over 3 months before another large bull run ?

The_Mummy

Then this could happen....

The_Mummy

There is is. IF this pulls us back up it could then lead to consolidation above the 200 daily MA. Let's see what happens....

The_Mummy

I haven't gone way back in the charts, but there's also been many 40 to 50% dumps before these and the trend still continued bullish. After every major dump we saw a huge price increase. The chart speaks for itself. Taking the mean of the last 2 pumps, we get 1100% as a possible price pump from here!

The_Mummy

There are many indications that Bitcoin will not be entering into a long term bear market but instead will begin a recovery in the next few weeks. The RSI has bounced off critical lower support at the 20 level, The Hash Ribbon indicator is predicted to flash the Blue BUY signal sometime between the 24th of May and the 3rd of June. The pink horizontal line on this...

The_Mummy

I have not charted the the time frame on this chart, it is just for price level purposes... As we predicted, BTCUSD bounced nicely from the 30k area. Now we can see that we have found some resistance at the 42k level. We think that the most likely scenario is that we find support around the 38k level and then continue back to the 0.618 fib level @ 51.4 k. If we...

The_Mummy

For fun I did a feb retrace from the last major ATH @ 20k which everyone was waiting to break and was very significant - to the recent ATH @ 64k and boom - we retraced almost exactly to the .786 ! Let's hope it stops here!

The_Mummy

It's looking more and more like we'll drop back down to retest the neckline of the H&S and we have seen happen a few times before with well know patterns, we will see a 'fakeout' first and then drop back before reaching the targeted measured move.

The_Mummy Updated 

Here it is.

The_Mummy

A quick measured move here gives 62,200 at Bybit

The_Mummy

BTCUSD is rapidly approaching our target of the green downward sloping resitance/support line, which some have described as an inverse head & shoulders neckline. Either way, if we can find support above it, then we think it's very likely we'll see 60k - 63k within the next 2 days.

The_Mummy Updated 

We see a potential for BTCUSD to bounce from here to fill the CME gap at around 60k. On the way we could see some chop around the 57.3 to 58.5k bluebox region. Weekly hidden divergence could play out sending BTC to 70k and beyond.

The_Mummy

This indicator has consistently predicted the beginning of long upwards moves. It looks like it will flash the blue buy signal within a few days. Enjoy 75k !

The_Mummy

It looks like we are finding support at the 50 day MA. BTCUSD only needs to move up a little in order for the RSI/EMA indicator to cross green back into the 50 bullish control zone. Once that happens 60k will be the next target.

The_Mummy

The triangle has morphed into a bigger one! But all indications still point to a break down to 24k Or a break up to 30k We still think the 24k is more likely first.

The_Mummy

This chart shows it better. We have multiple resistance levels coming into play. If we break the white resistance - which we WILL - if the measured breakdown move plays out - then we very likely will fall to 24k. 24k is also the CME gap, the Weekly bollinger band AND an important fib retrace level. Let’s go down and buy at a great price before liftoff to 30k ++++++

The_Mummy

It looks like the first breakdown out of the symmetrical triangle was a sort of fake out. We now wait to see if we will now get rejected by the same level again. If so we should go down to 24k as he measured love will bring us into the long term wedge. This point is critical.