Bitcoin: You just have to claw your way through this disguise...
Note to self: "You just have to claw your way through this disguise..."
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so far everything fits
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It is worthwhile to check the shape and inclination of the wave combs:
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A major keystone is approaching: MA140 is about to cross MA230.
It is difficult to say with certainty what will happen, no one can see the future.
Pure logically, at least that's the way it's been in the past, and not only with Bitcoin, that after MA140 and MA230 intersect, the price usually pulls back to MA140 for a re-test. Now look how high the BTC price is over MA140 and how high the daily RSI is, way overbought. I am not suggesting anything, just observing and thinking. Use your own your mind to decide and draw your own conclusions. Good luck!
It is difficult to say with certainty what will happen, no one can see the future.
Pure logically, at least that's the way it's been in the past, and not only with Bitcoin, that after MA140 and MA230 intersect, the price usually pulls back to MA140 for a re-test. Now look how high the BTC price is over MA140 and how high the daily RSI is, way overbought. I am not suggesting anything, just observing and thinking. Use your own your mind to decide and draw your own conclusions. Good luck!
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...so far everything fits even more
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Update 08-Jun-2019: My current mid-term view:
I think a pullback to the daily MA150 (~$5.7k) for a re-test of support is highly likely then we will have too see.
If the daily MA150 support breaks then we're in for an A-B-C correction and will go lower.
If the daily MA150 holds, though, the uptrend will likely resume.
I think a pullback to the daily MA150 (~$5.7k) for a re-test of support is highly likely then we will have too see.
If the daily MA150 support breaks then we're in for an A-B-C correction and will go lower.
If the daily MA150 holds, though, the uptrend will likely resume.
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It remains exciting. BTC flees to the top, but is there still plenty of room?
I say it's the daily MA38 (which may look like a parabola) that is crucial. It is the border line between doom and glory.
If BTC falls below it it's damned, but if it manages to stay above it's spared.
Just how much longer can this chase go on? I feel like the decision is closing in ;-)
I say it's the daily MA38 (which may look like a parabola) that is crucial. It is the border line between doom and glory.
If BTC falls below it it's damned, but if it manages to stay above it's spared.
Just how much longer can this chase go on? I feel like the decision is closing in ;-)
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This beast just keeps on running, that's right. ;-) Nevermind, I am totally relaxed, still. and I don't even think about getting in now. Jumping on the Bitcoin bandwagon and buying it now is what unsuspecting beginners do.
If one thing is for sure, it's the fact is that there will be a time when the price will retrace down to the red line for a re-test to make sure the support is still working.
It has always done this in the past (see yelow circles). It will do it again. The question is not if, but when.
Then, when the red line still works as support and it starts going up again, there's a good time to get in, in my opinion.
Numbers signify nothing, it could be at $6k it could be at $9k or it could be at $12, the exact number is not important. Understanding what your plan is and sticking to it is important. YMMV ;-)
If one thing is for sure, it's the fact is that there will be a time when the price will retrace down to the red line for a re-test to make sure the support is still working.
It has always done this in the past (see yelow circles). It will do it again. The question is not if, but when.
Then, when the red line still works as support and it starts going up again, there's a good time to get in, in my opinion.
Numbers signify nothing, it could be at $6k it could be at $9k or it could be at $12, the exact number is not important. Understanding what your plan is and sticking to it is important. YMMV ;-)
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Update 23-06-2019: The upshot of the idea is that after three supercycle motive waves up (2011, 2014, 2017) we might be in for a huge A-B-C correction this time around.
I am not yet saying that I was right, it is too early to judge, but it still looks possible to me:
I am not yet saying that I was right, it is too early to judge, but it still looks possible to me:
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So far, price action as predicted. Bitcoin has even dipped twice below $10k.
From my point of view, the big question in the next few days will be whether the price will fall below the daily MA 38.
From my point of view, the big question in the next few days will be whether the price will fall below the daily MA 38.
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I think it will be interesting to see how long the price stays within the descending channel and whether it exits through the top or bottom wall
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It's broken out to the upside it seems
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New development, updated channel -- at the crossroads again -- up or down?
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Price development as predicted. Another 4h candle closes below the important MA230. The downtrend is practically sealed. Should the MA370 ($ 9.5k) be broken soon, Bitcoin is in dire straits.
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Daily closing under MA38 $10,520 (0:00 UTC) this time around would set off big troubles in my opinion. Watch it and take care.
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Update available: The horrible thruth about Bitcoin - Part 2 - runs like clockwork...
Today it looks like this. We will see...