Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_________
Good day! I'm back making publicly published technical analysis. As you notice to my profile, my previous analysis is not there. All those technical analysis were hidden for now due to some reasons. I think, it's OK now.
This December 2020. I will celebrate the whole month of Christmas. Most likely to post Technical Analysis not so frequently or very less updates.
I think the month of December has two things to consider: (1) A new all time highs that may take the price above $ 20,000.00; and (2) Profit taking by the whales. I consider the first two weeks a green week while the 3rd & 4th weeks is a possible profit taking. So, I make a forecast for this month and next year.
Remember that we are in larger wave 3 from March 2020 (lows) to the present. So Don't be confused on wave counts.
________
Technical Analysis
Some explanation is in the chart itself.
Elliot Wave Price Forecast
Here is the Simple one.
Detail
On the upside, most likely resistance is very less for now considering that Bitcoin never reached before. I think the price targets on Trend Based Fibonacci Extension may gives a possible profit taking levels. So, prepare for possible four scenarios to happen. As you see, I'm considering 1.618 & 2.000 as potential top for wave 3 while 2.000 and 2.618 as wave 5. On possible price pullback, I'm considering Fibonacci levels of 0.236 (for swallow retracement) and 0.382 (based on Elliot wave). That's how I arrived on these four scenarios. I think the price may less likely to pullback to 0.500 & 0.618 Fibonacci Level. Since March 2020, the price most likely pullback to 0.382 Fibonacci Level - the same with Altcoins too unless something unexpected happened. I think this current rally may leave others to be off guard or missing an opportunity as the price pumps higher. In the chart, you see the percentage of dumps, I think a dump of 15% to 25% is realistic within the 0.236 or 0.382 Fibonacci Levels when the top has been reached. In the past price action from March 2020 to July 2020, the price had settled at 0.236 Fibonacci at $ 8,881.32 while others at that time is aiming a pullback at $ 8,600.00 that never happened because everyone is so bearish at that time. What happened? It pumps hard. Right now in this whole rally from October 2020 to present, everyone is expecting a pullback to 12K when the price is 13.88K, then another expectation of pullback to 14Ks when the price somewhere at $ 17K to 19K. Then, Bitcoin pumps hard. So, in the whole rally from March 2020 to present, dumps are just an opportunity to buy more quickly on spot trades. I think with the current buying among big players is less likely to pullback 0.500 and 0.618. For this month of December after the US Election, I think there is a Santa Rally. Who knows when we reached those prices but better be prepared.
Monthly
Weekly
Daily
4 Hour
1 Hour
________
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_________
Good day! I'm back making publicly published technical analysis. As you notice to my profile, my previous analysis is not there. All those technical analysis were hidden for now due to some reasons. I think, it's OK now.
This December 2020. I will celebrate the whole month of Christmas. Most likely to post Technical Analysis not so frequently or very less updates.
I think the month of December has two things to consider: (1) A new all time highs that may take the price above $ 20,000.00; and (2) Profit taking by the whales. I consider the first two weeks a green week while the 3rd & 4th weeks is a possible profit taking. So, I make a forecast for this month and next year.
Remember that we are in larger wave 3 from March 2020 (lows) to the present. So Don't be confused on wave counts.
________
Technical Analysis
Some explanation is in the chart itself.
Elliot Wave Price Forecast
Here is the Simple one.
Detail
On the upside, most likely resistance is very less for now considering that Bitcoin never reached before. I think the price targets on Trend Based Fibonacci Extension may gives a possible profit taking levels. So, prepare for possible four scenarios to happen. As you see, I'm considering 1.618 & 2.000 as potential top for wave 3 while 2.000 and 2.618 as wave 5. On possible price pullback, I'm considering Fibonacci levels of 0.236 (for swallow retracement) and 0.382 (based on Elliot wave). That's how I arrived on these four scenarios. I think the price may less likely to pullback to 0.500 & 0.618 Fibonacci Level. Since March 2020, the price most likely pullback to 0.382 Fibonacci Level - the same with Altcoins too unless something unexpected happened. I think this current rally may leave others to be off guard or missing an opportunity as the price pumps higher. In the chart, you see the percentage of dumps, I think a dump of 15% to 25% is realistic within the 0.236 or 0.382 Fibonacci Levels when the top has been reached. In the past price action from March 2020 to July 2020, the price had settled at 0.236 Fibonacci at $ 8,881.32 while others at that time is aiming a pullback at $ 8,600.00 that never happened because everyone is so bearish at that time. What happened? It pumps hard. Right now in this whole rally from October 2020 to present, everyone is expecting a pullback to 12K when the price is 13.88K, then another expectation of pullback to 14Ks when the price somewhere at $ 17K to 19K. Then, Bitcoin pumps hard. So, in the whole rally from March 2020 to present, dumps are just an opportunity to buy more quickly on spot trades. I think with the current buying among big players is less likely to pullback 0.500 and 0.618. For this month of December after the US Election, I think there is a Santa Rally. Who knows when we reached those prices but better be prepared.
Monthly
Weekly
Daily
4 Hour
1 Hour
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
Comment:
Other TAs;
Comment:
Currently. I'm short previously long. Seems like, we go down before to go up
Comment:
Remember a weekly closed above the 2017 all time highs is very bullish signal for Bitcoin. Also, with ALTs which is mostly not tested their highs.
