chrzky

chrzky

With this idea I wanna bring attention to a possible W pattern playing out in the Bitcoin chart. I am currently short from 6950$ and looking for a bounce around the 5500$ range. W patterns are very common in a Bitcoin bear market, as you can find them in: April '14 October '14 February '15 It's still too soon to say though, but if we go towards 5500$ I am...

chrzky

The last days have shown Bitcoin is still in the same bear market it has been in since the all time high. Every pump in between is just a correction (see: Elliott Corrective Waves) and has nothing to do with the start of a new bull market. A new bull market will start when most people have forgotten about cryptos and want nothing to do with them. That's what a...

chrzky

I spotted this hidden bearish divergence on the hourly chart. Let's see how this plays out.

chrzky

I'm still not convinced of any bull run happening before we completed Elliott wave C, this is my best shot of predicting price movement until February 2021. Why until then? According to Wikipedia's article on the Elliott wave principle, Wave C is about 1.618 times as long as Wave A. It might vary, but that's what I'm going with. After Wave C, a bottom will form...

chrzky

I know it looks depressing, but this is what I think an Elliott Wave C could look like in 2020. Then we will see a new bottom forming starting the next market cycle that will take us to new highs.

chrzky

These are my thoughts on the price of Bitcoin for the next 1-2 years. First we are likely to see a return to the daily 200 MA, because we have moved quite far away from it rapidly at the last drop in December 2018, and price has been stable ever since. Then, after reaching heights between 4500$ and 5000$, selling pressure is going to drive down prices again, for...