cryptogast33

BTCUSD Weekly Analysis | 2018-2020

BNC:BLX   BraveNewCoin Liquid Index for Bitcoin
My chart overlays got deleted, so I decided to start from scratch, which wasn't bad at all after all, since many charts were pretty chaotic (from what others have commented :-)).

Since the big picture is easily overlooked when we look at the smaller timeframes (tunnelvision), it's important to see the overall trend since start to now from time to time to not get biased in one direction or the other.

Assuming this is the 3rd wave since 2011, the king has one more serious bullrun to go before a big correction, but first a cyclical lesser degree correction is due before I see that happen.
For the last few years, I've seen (and still see) the 618 (golden ratio) has been a more and more significant nummer for Bitcoin             (sic BTC             ), so my guess for wave 5 takes this number in to consideration, as w5 equals w1 doesn't seem right when it's calculated from w4, because it would be a truncated one at a much lower price point, which I find hard to believe.



Comment: As a reminder and in my honest opinion which I'm 99.99% sure about, 6k is NOT the bottom my friends. Those who tell you that have never experienced 2/3 digits price and so far all who've said this came late in 2017 or early 2018 and are very emotional when you tell them this, which says enough.

Technically, there is a possibility for 13.8k in this reactive bullrun, but as you can see and as predicted, it's losing steam over time, so the possibility becomes stronger that 9.9k was the top for this bullrun IF we break 8.85k.
As of now, there is a possibility of 10.8k, but NOT more than 11.7k.

I still expect 3.3k and this would be a confluence zone of measured move 20k -> 6k + 11.7k -> 6.45k.

From an observant + psychological point of view:
- Majority of people (to be named people hereafter) have NOT been shaken out yet. Too many longs still open and too many bagholders not capitulated;
- People immediately become bullish after a pullback from a sharp move down. In a true bullrun, people are skeptical until they're too late to step in again after a very, very long time of depression (1 month is nothing compared to 3 prior years);
- People feel too comfortable and euphoric for weeks now that this was the bottom and talking about 16k, 18k, 20k, 50k again.

I'm not telling you what to do. There still is money to be made or breakeven when you're underwater, but keep in mind there is more to lose.
Comment: ^ Forgot to add chart
Comment: Technically, it can to 1.9k without breaking the EW rules (wave 4), which is a deep correction. I don't expect it, but it happened before in Nasdaq in the dot com bubble. See chart.

EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out