Bitcoin is currently closely following a pattern that it has produced twice throughout its history. Both of which were accumulation cycles that preceded a bull run. I have linked three charts here that I have made that showcase this historical behavior. The cycle plays out as follows:
Step 1: After the high was set at the end of a parabolic bull run, priced...
According to my analysis, Bitcoin should breakdown sometime tomorrow or Thursday, testing demand at the previous range highs of about $8,350 and consolidating again around that level before a quick recovery back into the current range. A successful recovery would mean that it becomes highly likely that we break up towards the $9,400 levels, which is the .382 level...
Hey there everyone,
Here is an extensive short term technical analysis chart analyzing a possible move up before we see more of a Red October/November. I published an analysis a few days ago but I realized that I drew the "X,Y,Z" labels in the wrong place.
This new analysis is based off of "Figure 1-47" in the Robert Preacher, and A.J. Frost Elliot Wave Theory...
This is a possible Elliot Wave analysis. Chart is from Binance.
There is a clear ABC correction upwards from the low 6100s on the 8th of September, which leads into the beginning of our long and boring symmetrical triangle. From what I find, symmetrical triangles in an uptrend usually break upwards. So, the first ABC is actually a "W" which is the beginning of a...
