chris-abc
Short

BTC Next move Down to 5850 ONLY

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
https://www.tradingview.com/x/H0Jn8yaQ/
Ok, thought it would be a good idea to do another update on where i think btc             is heading.
My previous idea was wrong, I thought we were still in what i have named transition phases. The reason being is that i had not paid enough attention to the other transition phases since each one has been smaller by !/4.
Anyway, was just a small loss since i voided the trade at 7300, but what more important is that it made me look at it closer and has brought me to the conclusion that this will be the last bearish peak, I am now quite convinced that the next peak we have will be higher.

Anyway the above is for long term anyway, this idea is about the next move.

Since we entered a 4th phase it has been quite obvious from the start that this was going to be shorter in time and not as deep although it feel like it is more agressive simple because it is doing it in faster time.

I have started to use cloned boxes to judge the length of time a phase might take and how deep it will be. If i measure the distance from the start of the drop to the top that is after the first low after the drop it appears to drop exactlyish the same distance again from the second top to the bottom of the phase. The only difficult part is working out what is the first real bottom and the top that comes after. Also the distance from those two points is 1 third of the length of time it has been taking to get from one top to the next top.

Anyway all in all, i think we should not go much lower than 5850 BITFINEX:BTCUSD            
Which is the reason i am so interested in the way of natures effect on charts. Nature always will find the most effective way of doing things this is why the fib sequence appears in so many things, nature will have found that the sequence will be the most effective way to reproduce, or the best way a plants leaves can absorb the maximum amount of sunlight in the time given, or how trees branches fork from one another to provide the most effective way of capturing sunlight. Some things i think are probably just coincidence but for sure the numbers are of major importance, so i thought if they work so well, lets see what else can be found from our big blue planet and beyond that can help predict the [ath. I also worked out some things that relate to market crashes and the planets in our solar system.....sure i may have just found something to fit i guess. But if the next market crash is in just short of 2 years from now at around 45,000usd then hell it may well be something else thats just out of this world litrally
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Thanks for the post. I like to see all the views. I would say that i disagree mostly. Bitcoin has been entirely corrective so far this year, and there has still been nothing to suggest a bullish move. Each 'bullish' has had no significant impulse to escape correction and so far each oscillation has peaked at 0.618 fib. More likely $5800 will be tested and breached forming a new yearly low. Then perhaps a small relief rally will ensue, many will call the bottom yet again, and round the mulberry bush Bitcoin will go once more. Alts are bleeding out, Crypto market cap is approaching $200bn. If any rockets are taking off, it seems more likely they'll go down, not up.

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chris-abc dRends35
@dRends35, Thank you for your comment and your educated view. I am aware that most people are bearish right now, but i am coming at this from a different angle and not looking at fundamentals or anything like that. I am working on time, nature and multiple time intervals tick the next time interval above to the next phase. I have the next phase being very mildly bullish. In fact the end of the bear phase is bullish, however the start of the bullish phase is bearish. You wil get what i mean if you look at the curves i draw that i call phases. Each one is made up of 3 (occasionally 4) smaller phases that belong to the interval below. This can be done all the way down the intervals all the way to 5 min. So yeah i have ditched the traditional type of trading and creating my own so i will come up with very different ideas to what other wil do.

I may well be wrong here, and i do value your feedback and your views, we will soon be seeing if i am completely out here i guess.
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dRends35 chris-abc
@chris-abc, At any point Bitcoin can do something new, but due to the fact that Bitcoin has been entirely corrective with fibs in tandem thus far would mean that any bullish sentiment would be found only in hope. There isn't anything to show a regaining of bullish control thus far. That doesn't mean you'll be wrong and a contrarian perspective can be adopted. However I see it the opposite way; Every trough herds are calling the bottom, only to get trapped in the following oscillation.
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chris-abc dRends35
@dRends35, As i say, i am using my own TA method, it serves me well. But as for BTC doing something new, yes of course it could, but it never does anything new, its pretty predictable in the way it behaves. This tally hwew for instance, you will find it wont break through the green line, i am 100% certain on this, reason being, it never has done before so why would itr now. I also called the bottom last time at 5600 something before we got down there, you will find i was right, you can check my very first idea for this if yu like. As i say. many ppl always argue with me coz of the way i do things but its actually not dissimilar to you. I find my numbers tho through other means, originally fib was based oin the reproductive rates of rabits. SI actually find my numbers through the others ways...for example, all rivers in the world have the same fractal number ..... guess what, work out the fractal number on markets....its the same!!! So as wacky as my TA may seem, its no more odd than anyone using Elliot waves , fibs whatever. I willouse these things to cross check sometimes but if they dont fit it does not alter my view.

HOWEVER, i am still very much developing this and i am finding new things all the time. I have already spotted a possible way that this TA may be incorrect, i although unlikely its possible that i have miss identified something. But even so when we hit 5850 i will exit my short and wait to see where we go. Since if we go lower i expect about 4200....would ghave to check.....but doesn't matter as this post was actually for the trade with a target of 5850, if we make that target then the trade is good. We then look to the next move. But for now, i think it will be up, not down as most seem to think

But for this post, then all that matters is it hits 5850...thats it, nothing else matters....after that i will do a new post
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dRends35 chris-abc
@chris-abc, "originally fib was based oin the reproductive rates of rabits."

Whats this?
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chris-abc dRends35
@dRends35, In the West, the Fibonacci sequence first appears in the book Liber Abaci (1202) by Leonardo of Pisa, known as Fibonacci. Fibonacci considers the growth of an idealized (biologically unrealistic) rabbit population, assuming that:

a single newly born pair of rabbits (one male, one female) are put in a field;
rabbits are able to mate at the age of one month so that at the end of its second month a female can produce another pair of rabbits;
rabbits never die and a mating pair always produces one new pair (one male, one female) every month from the second month on.
The puzzle that Fibonacci posed was: how many pairs will there be in one year? etc etc etc........................ Ya should read about where the numbers come from and occur, interesting stuff
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dRends35 chris-abc
@chris-abc, that sounds interesting, thanks. It is fascinating how many areas fib can be applied to
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chris-abc dRends35
@dRends35, Also....look at the support resistances that i was able to create using numbers found in nature. Where it is rejected tops and bottoms is too often for it to be just coincidence
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Yup. I think ur right.
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