I repeat it because it's never too much: i don't like TA. The only things i like is to find similar pattern to understand (or to try) human behaviors. I thinks these patterns are very similar or am I wrong? If i'm looking trading view with bread slices on my eyes, tell me.
I'm bullish on Bitcoin in long term but is always good analyze the pattern to find some price projection. I'm not saying "we are in a bear market", but if are we? Maybe this is a possible scenario looking at the monthly chart. i don't know, surely this psychological game is stressfull, damn.
I just drew parallel lines that follow the ascent and descent phase in the market, I didn't think I would find such a perfect coincidence. What's next? Do we continue the descent, lateralization or do we start again uphill?
If we enter in a Fomo bull market like 2017, i think a reasonable 100x from here has high probability to happen. If market continue to grow slowly, we can reach a 10x. In other words we can only grow, but i think exponentially will be the way which we grow. Ath can be moved, nobody can know when this will happen.
Around this support hodlers and whales seems continue to push the price to avoid bears can dominate the scene. I don't see a downward spike so weird to scare everyone another time, and then maybe the next bull can run and create a decent Fomo? Ahhh, it was so simple in 2017, good times those. :)
Btc whales are kidding us? Seriously, that support is ridiculous, at least for now. Let's see in some hours what will happen.
Nah, do you really think Btc can go below 10k? As i told in other chart, i don't like TA, but is uselfull to understand market psicology: if you put a series of red candle until 10k, what's the result? I mean, what kind o psicology has this market? What are doing their partecipants? Are they all stup-1d? I don't really think, we can go below 40k, again near 30k,...
There is a discendent channel, this is obvious. But where will be the stop of it? The orange line is very attractive imo.
I don't think we'll see an identical Wyckoff this time, this descent channel is different, more slowly, so i suppose that if price return to 53, it will do in a slow movement. I don't like copy and past previous pattern in short term, because is very different from macro trend pattern (human psycology don't change in long term), so...let's wait another 2 weeks.
People don't understand the real impact of some companies in the coming years, so they think Arkk will die tomorrow. If Ark will die we'll see delete from the US market companies like: - Tesla - Coinbase - Block - Teladoc Seriously, do you think in the next 3-5y will they disappear? Absurd, markets aren't a straight line always uphill :)
Can Eur overtake Usd after this mega dip? Or are we going belowe 1.10? The price crossed my channel but it's still standing there.
If, and I repeat if, we are in a supercycle...well, i must show you again a pattern that i found in the previous cycle which led to the mega parabolic trend of 2017. Maybe this time will be similar but more long, untilg the next halving when Btc literally will explode. Nobody, of course me neither, can predict the future, but i can't be bearish when i ear...
Is this a next wave for EthBtc pair? I don't think Eth will overtake Btc neither now or never. Only time can tell us, in the meantime we have to see the red line where it places the lows.
There is no data-based geometric foundation in this analysis, but this is what i think about next rise based on what i read and see on whale transactions. All whale has start accumulate Ltc since last year, so it's very likely that the price will go up at least 10-20x. If more, better for who is entered at today's price. Speculation? Of course. The first whale...
Which pattern do you think we will see in the next months? If adoption is as many told us and countries and/or central banks are coming, i think a grow slow and parabolic is the choise. But if companies like Tesla start to use Bitcoin in thei balance sheet or to receive orders, maybe a brutal rise is the obvious option. If countries, central banks and companies...