Of course, the projected future waves are pure speculation and I'm not expecting any patterns to repeat themselves exactly. There do exist, however, 7-year and 13-year cycles in the market that deserve consideration and further research, considering the similarities I believe to be showing quite clearly in this comparison. I have made an effort to simplify this...
Bitcoin will be soon making pivotal long-term decisions; the journey that began in 2012 is coming to an end, lads. For the big screen, in a couple of ways. I've had this one lying around for quite a while but I thought now before the big red rendezvous with the golden line is a good time to publish it, without a subsequent vast amount of inquiries about my mental...
My minuscle objection to "Breakout!!1-longto3000" ideas based on smaller exchanges' data, where so-called breakouts can be and were generated by single orders. Darker patterns for comparison only. There's a chance the second pullback won't happen and instead it's going to drop right away somewhere near the middle of the cycle. Take care if you're still long there.
Just a quick fix of an old idea; cycles were somewhat off resulting in the projected correction being possibly too short. Pretty much all tools are lining up in an amazing fashion now as well :) The start will probably be parabolic instead of a drop like that in the chart pattern. Buy signal at 595 (brown resistance), just in case.
There has been quite a bit of discussion about Bitcoin and the direction of price. Based on the weekly chart it should become apparent that until the weekly indicators turn up, Bitcoin will have difficult gaining any price altitude. In addition, Bitcoin has fallen out of the price channel formed back in April based on the pivot low of $339.79. The only...
Been there, done that, vice versa head first! youtu.be ("In Theaters May 24" -- close.)
Definitely a good moment to take profits however I doubt it will correct much afterwards (darker blue arrows, I'm not even sure whether the first target will be reached that quickly). A couple percent with a very good R/R-Ratio to be made, though you better watch out; LTC can be a true treacherous btch when it comes to potential bottoms like this one.
So far everything on schedule -- drop occured right after 0.62-year cycle line had passed, initiating the third (last?) wave of the big correction. Here's my roadmap for the first interval. It looks like we could see an inverse cup-n-handle smashing the yellow support line before continuing with increased momentum towards the final target in the sub300 zone. So...
This is the reason I've been able to catch every single top and bottom perfectly from the very beginning, and the reason why you definitely don't want to be long now. 17th of October is the approximate date I'm going to consider this rally as corrected and completed; bouncing at $260 first, dropping down to $200 and ultimatively stabilising around the $260 mark...