ThousandDollarBitcoin

ThousandDollarBitcoin

Recent price action has caused me to reassess the placement of the the blur bar pattern from May this year. This indicates a bull trap before a lower low, then a big bounce on the big even (25K) before breaking to lower lows. Green and red lines are buy and sell levels, other lines are Fibonacci levels and fans.

ThousandDollarBitcoin

Price is currently completing short term B wave (see related) Short term drop to local demand zone will show support A breach of the liquidity pool above $30,000 may cause price to rapidly pullback to retest support Blue bar pattern taken from 24-April-23.

ThousandDollarBitcoin

The return move of the topping H&S pattern looks likely to extend into the local supply zone. Horizontal lines are Trade entries and stops. Numbered diagonal lines are fib speed fans. Blue lines are the head and shoulders and neckline. Yellow height is height of Head extended down from the neckline. Target is at the long term 0.33 fib at $23,561.

ThousandDollarBitcoin

The blue bar pattern is from 2019 An additional impulse wave would likely be extended, reaching approx $38,000. A buy opportunity will likely present at what will be the fourth wave ($26,000), at around the time of the halving. Final target at 1.272 extension of fib retracement from $1,000 to $70,000 This appears likely to be a final pump and dump for...

ThousandDollarBitcoin Updated 

A confirmed head and shoulders suggests a potential downward move to 50% of initial impulse wave.

ThousandDollarBitcoin

The recent price movement in bitcoin could be described as "a small wave after a big one". This same description could be applied to 2019. If price is to continue on a similar path to that of 2019 (bar pattern in blue), then we would see sideways trading for a a year or so, before a breakout to new highs. Supply and demand zones provide buy/sell opportunities...

ThousandDollarBitcoin

Extended B wave to neckline of H&S at supply zone.

ThousandDollarBitcoin Updated 

Elliot wave pattern looks likely to complete with a standard (not extended) 5 wave to the 1.272 fib extension.

ThousandDollarBitcoin

Price appears likely to be drawn into the liquidity pool above the psychologically significant level of $33,333, which is approximately 50% of the all time high.

ThousandDollarBitcoin

Price is expected to return to the strongest demand zone around $17K. Likely to stagnate at that range before dropping lower around mid year. The blue bar pattern is from late May 2022.

ThousandDollarBitcoin Updated 

Head and shoulders forming under key resistance, potential entry opportunity for long term short position.

ThousandDollarBitcoin

The yellow bar pattern is from early June 2022, before a sharp drop. Green lines indicate potential stops for a short at this level.

ThousandDollarBitcoin Updated 

If severe USD deflation begins soon, Bitcoin could return to the phase 1 price level of the 2017 Hyperwave at $1,000. The recent wave pattern looks like a non-failure reversal (aka extended B wave). If this pattern is to complete, it will break through 20K, bounce to retest 20K and continue on to lower lows.

ThousandDollarBitcoin

Black Swan strategy allows for a concentration of risk into a short position at the current price, with a target at $1,000. The non-failure reversal at the ATH indicates a high probability that price will drop from 30K, break through and retest 20K, and continue to lower lows. The potential for rapid deflation suggests a return to the phase 1 price of the 2017...

ThousandDollarBitcoin

H&S reversal at $1.50, price could reach $2.00 by end of year.