The weekly time frame demonstrates that Bitcoin's price broke through and closed ABOVE the prior downtrend's trendline! In my book that make's it official that the prior primary correction has terminated. Bitcoin's history agrees with my assessment. That's not to say that Bitcoin won't experience corrections in this current NEW Primary uptrend. In fact I believe...
The Inverted Exotic Dragon Pattern target zone just so happens to coincide with a potential Minor regressive Wave 4 correction target zone before heading towards progressive wave 5 in the 25k zone, in my humble opinion!
Not much to say really. I believe Minor wave 3 is in, and that Bitcoin is in an expanded flat wave C minor wave 4 correction. Once wave 4 completes, then a more realistic target estimate can be given for Minor Wave 5 within the 25k zone based on the methodology I'm using.
Bitcoin appears to be in Phase D within the Distribution phase. Quote from Wyckoff Analytics dot com Phase D: Phase D arrives after the tests in Phase C show us the last gasps of demand. During Phase D, price travels to or through TR support. The evidence that supply is clearly dominant increases either with a clear break of support or with a decline below the...
I'm still bearish but slightly changing my count to an EW ending diagonal with multiple UT's. Now awaiting ending diagonal triangle breach with a strong thrust to the downside. Quote from Wyckoff Analytics dot com "Aggressive traders may wish to initiate short positions after a UT or UTAD. The risk/reward ratio is often quite favorable. However, the “smart...
For entertainment purposes I marked up what a potential Wyckoff distribution phase would appear to look like at this stage within phase C in Bitcoin ......... For those interested in further information on the method, I recommend: Wyckoff Analytics dot com All the best!
From my perspective Micro wave 5 is complete of which completed Subminette wave 3. A bullish corrective symmetrical triangle was formed over the weekend and broke out on Sunday. The rest from my perspective is corrective and bearish for the time being. I expect a subminuette wave 4 to materialize.
I'm calling this parabolic arc 3rd minuette/minute wave 3 in. That's my humble opinion at this juncture. I anticipate a meaningful correction into wave 4. Talk about overdone, WOW! I wouldn't be surprised to see a blow off top on the daily........ Exotic Dragon Pattern's Head target zone reached! Best Of Luck!
Micro wave 3 extended and is not complete. Regressive Micro wave 4 and then Micro wave 5 still need to print in order to complete Subminuette wave 3 within Minuette wave 3. THEN Subminuette wave 4 & 5 need to print in order to complete Minuette wave 3!!! In my humble opinion.......... TO THE MOON ALICE, TO THE MOON!!!
As I'm writing this I believe the Pennant on the 15 minute chart(C&H on the 1 minute time frame) just put a fork in subminuette's wave 3's high and will correct in my hypothetical subminuette wave 4. So this is my Hypothetical PUNCH BOWL pattern. I drew the cup, now I await a potential pullback to form the hypothetical handle. As a reminder I put the Exotic...
IN THE GREEN JELLYBEAN! YEEEEEEE HAAAAA! Now take a little break , go on you tube and look for 2 songs. 1 Money Talks , and the other, Thunderstruck . Thunderstruck is what happened to the Bears! They've been THUNDERSTRUCK by the Bulls! Now reward yourselves by cranking up the volume on " Money Talks" for a job well done ! YEAH!
Another one of the Dragon patterns target that I had mentioned in a prior posted chart has been attained. It so happens that the tail has reached the proximity of the peak of the Dragon's head. This point also corresponds with subminuette wave 3(a 261.8% extension of subminuette wave 1) in minuette wave 3. I now anticipate a subminuette wave 4 correction of some...
Bitcoin appears to like tea. The prior BULLISH Cup & Handle just had a little baby as we're awaiting the prior's target to be attained. Price appears to have broken out of the handle(Pennant) and, well you know the drill.......... All The Best!
Bitcoin's price appears to have broken out of the handle. That's the first step. Next step is to breakout of the cup's edge/highest point of the handle. All the best!
I figured a William O'Neal Cup & Handle pattern could be useful for the Bulls. So I drew one up. I wanted to wait until it breaks out but figured the Bulls could use a smile! This fits and is still in the 'potential' stage until a breakout does occur. All the best!
Target zone of the Exotic Dragon Pattern on the 15 minute time scale has been reached. I posted this update just to show that this pattern is a real one and occurs frequently on different time frames in Bitcoin. We still have one on the Daily time frame in play. All the best!
Subminuette wave C within subminuette wave 2 in Minuette/Minute wave 3 was extended and completed on December 30. On the smaller time frame an inverse Head & shoulders also formed. The low of the left shoulder was on December 28 and the breakout of the neckline was on January 1st 2023 at 22:00(10pm) EST on the hourly chart. Bitcoin has also formed another...
For entertainment purposes I just invented and coined this pattern the Noble Bullish Bike(NBB). The two circles referred to as wheels are the sweet spots for entering a trend reversal. The first wheel indicates a bottom and a wave 1 impulsive wave along with the following countertrend corrective wave 2. The next wheel is the sweet spot before a higher degree...