Thread: Bitcoin technical analysis

Originally Posted by ;

7441.1 have to be defended from the bears otherwise bulls will take over. Now in the demand zone... eyes wide open. We appear to have; 1). Potential bullish divergence on two and H1. A bullish leonardo on daily interval. 3. Finished the wave ABC. For those reasons I'm out...

I was alive when 7441.1 was violated. Bears are overcomed... and bulls have managed to put their acts together and it's a bull's country until the next bend.

eyes wide open

Update

After my horrible TA, (that cover me too much today... 17 percent) short btceur.

My first tg 2k.


Charts don't lie.

The difference between a correction and an accident.

For comparison sake, firstly, the daily chart of the Nasdaq revealing the Tech Bubble burst;



Now the current daily Bitcoin chart;



Should Bitcoin survives... This is the reason why there is never usually any rush to ch the 'falling knife'. Let PA show you the way. Waves 12 are usually lethargic. The market does not have the exact same memory as people. Everyone believes that Bitcoin will return up as fast as it did. The markets do not usually work that way. You see, our memory is of the most recent price action (PA), thus everyone feels like they need to buy into Bitcoin at these levels, since it's going to soon take off again to $100 or beyond... Slow down! Firstly, it ought to prove it's going to survive.
This is your daily chart of the Nasdaq (US 100 tech market), spanning back a few decades. Then I have comprised a like for like chart of Bitcoin. That is not to say, it will follow an identical path, but it does show that tide 1 takes some time to gain any momentum and wave 2 is generally profound, taking you back to where it began from. That is when to buy. Later this year according to the scales...

8330 need to be Safeguarded from bulls failure to which bears will reign again

This is my contrast to the NDX pattern since the Dot_com High. The correction following the very best happened 9 years ....



Edit:
Can Be Bitcoin in 1998 or 1999 currently ??

Https://www.rt.com/business/418215-w...cast-gold/amp/

Bitcoin twins went totally crazy!!

Lets prepare them a two bunk bed room in a mental disorder hospital.

Do not worry, we'll find them soon when bitcoin crash below $1000

Originally Posted by ;

Here is my Contrast to the NDX pattern since the Dot_com High. The correction after the top happened 9 years .... Sixer Edit: Why Is Bitcoin in 1999 or 1998 already ?? picture

Hello Sixer,

I usually find people get very defensive when their charts require correcting, but if I can...

A 4th wave needs to be in proportion to the prior cycle beforehand. In fact, often they are really quite small, less easy to spot than a wave. This is only because waves are profound, due to indecision at the moment, whereas a 4th occurs after the 3rd that is powerful and not there's a lot of interest in the counter-move at that point.

Also take a look at your ABC, it is the best shape of a triangle ('up the staircase' -impulse, followed by the 'down in the elevator' sharp fall, profound corrective... a nailed on tide 12. Very rarely you will see a truned 'C' wave that does not go beyond tide 'A'

Hope you can see what I mean)

Regards

CG