pacman7331

pacman7331

Yes we crossed the 200 ma on daily, yes we made higher highs on every time frame, BUT why is only one or two coins going up (BTC, BNB) if the whole market is bullish? Last time we were at 11k ether was about 800 a pop, we had a market collapse and then a sudden inflation. I don’t think this is a real bull makret! I expect a massive correction. Bearish indicators...

pacman7331

So looks like 20k is within sight before the end of next month. 75k before the end of this year. Bitcoin was supposed to bounce around in that channel between the red top trendline and the green bottom trendline for a year and a half. We didn't double bottom we didn't double golden cross we skipped all that and we aren't going to slowly break our 10k 11.5, 13.5,...

pacman7331

It was a very close correlation for all of 2018 and into early 2019 between 2015 and 2018 bear market. But now that correlation has ended. As you can see we should have double bottomed on the 200 weekly moving average if we were still following the 2015 pattern, then have a 2nd golden cross and pumped 200% +. We skipped over that and have already pumped 200%....

pacman7331 Updated 

So yea... As has been pointed out before this market is being driven by tether printing. You can see (unfortunately I can’t insert on tradingview) coinmarketcap.com A 200% increase in USDT over a period of December 2018 to today and a 200% in price of bitcoin in the same period of time. If you wanna ride the whales, just go to the chart on coin market cap. And...

pacman7331

Bitcoin is a bag of tricks, you think its bullish, but then it breaks down, you think it's bearish then it breaks upward. This is how money is made, by fooling the small holder, making him spite himself and sell (or buy). Bots may be able to spot them. You can expect any bullish signal to be liable to reverse at the last moment, as well as any bearish one. Expect...

pacman7331 Updated 

We can see that last time we had a rising wedge and weekly indecisive candle, that dropped into an ascending triangle, and broke to the upside. This could happen again here as a repeating pattern. This recent trend of extreme white knuckle bullishness has had a lot of rising wedges, bearish divergences, and overbought oscillators that do not result in any kind of...

pacman7331

We are topping out now on the monthly at the same ~ 8500 level as was seen back at the previous rally from summer lows in 2018 and after bitcoin stubbornly rallying again from 8000 to 9000, forming a rising wedge and dropping 1000$ in a day and then still holding with multi month long bearish divergence on rsi mfi and now the macd, and still in a rising wedge. The...

pacman7331 Updated 

So yea looking at this fib circle tool, I just draw from all time high to market bottom, 0 - 1. I assume this is how you use the tool but I could be wrong. Starting at ATH ~20k we drop off to the circle 1 at about 10k, retrace to the 78.6% horizontal fib and then fall to the horizontal fib support below 10k at the 38.2%, then we retest the 50% and fail and fall...

pacman7331 Updated 

Updating on my first idea published inspired by Alessio Rastani, If this Elliot wave count is correct, there is still potential for a massive correction. If you look at the weekly stochastic RSI we have a lot of downside potential. First target of the correction would be the 20 MA (weekly Bollinger Band MA) the next target if that breaks would be 2800, because if...

pacman7331

It's true I didn't expect this ponzi pump scheme from all the tether FUD. I WAS WRONG. But this move exceeds all rational explanation. It disregards TA completely, so the answers now are NOT in the charts. Something else fundamental is going on. However looking at the TA we can see we hit the macro 23.6 fib retracement level. We are bearishly diverging, and we are...

pacman7331

So yea it seems a new bottom could be reached on a wave 5, a dip to 2800 or 2400 would suffice, maybe lower. Although we had a sort of Adam and Eve bottoming pattern previous market patterns show a retest of the 200 weekly. And this bear market would be a short one if it lasted only 400+ days, last one was 600+. So if this Elliot Wave is correct then a new bottom...