Check out Mr_Kristov YouTube channel for a video he put out on June 13th that's 16:24 long about the $20 Trillion in institutional money, sitting on the sidelines, waiting for the U.S. government to regulate the Crypto Market's, so they can get in. The video was posted by Mr_Kristov called "BTC bloodbath is the beginning of $20 trillion coming into the...
Too Bearish for some, but this may be the healthiest thing for BTC. This market has been unregulated since it's inception. As such, it has attracted a TON of manipulation. Wave walls in the order books, Market Makers doing their tricks, etc. This run up to $20,000, and back down was ONLY the RETAIL boom. But guess what. There's $20 TRILLION in capital just...
This 3-Bart Head & Shoulders has been forming on a 15 minute chart. No way we get a topping formation after a $4000 drop. I remember an Inverted Head and shoulder last week at $7600. It failed. Now we have a much small one $1500 lower. WTF? This 15 minute pattern creates a bear flag on the 4 to 6 hour chart. I'll post a 1 hour chart next, to show how this...
IF this little puppy plays out, it might give us the rally back to retest that broken symmertical triangle we broken down out of
perhaps this is wave 4, which might give us a lower low with bullish divergence for wave 5, leading to a bounce back up to retest the white symmetrical triangle (white trendline) , then bombs away to our targets below.
July 30 to 1st week in August cycle time. 2 levels of support, 1st near the 4425 level, 2nd near the 2425 level.
Elliott Wave Count & Cycle Analysis to create possible time and price 50 days from now. Should hit Late July or early August for the 60 day cycle low in BTC. First target 4425 zone, second likeliest 2425 zone.
Anyone better than i am at counting Elliott Waves, please feel free to pick this apart. I'm not an experienced wave counter, but i'm trying to learn. OBVIOUSLY, no one should trade off of this idea. Jeeez
DON'T trade off of this. I'm brand new at counting. Just tryin' to learn.
If XBTUSD tanks quickly to 6550, it'd be a small bullish butterfly. Not looking for a bottom, but it might cause a decent rally, which can then be shorted.
Not sure i'd wanna try to catch this falling knife, but it might yield a decent bounce.
^ hour Bullish Bat lines up with touch of 16 week Symmetrical trendline
Here is another chart for CrytpoNite, with the Bat Pattern highlighted.
IF that price spike low to $100.0 (basis Bitfinex) in February 2014 was accurate, then the following 11 months produced a textbook perfect Bullish Bat Pattern IN BTC. The Bat Pattern ended in January 2015 and the .618 and .886 which define this pattern, hit with a 99.258% accuracy. IF the $100 February price spike was legit, then the 2014 bear market was 11...