Here is the reason WHY BITCOIN will go under 10,000 USD!
Updated
Hello beloved friends!
Many people has asked D4rkEnergy, why he thinks, that BTC will go under 10,000 USD since he 3 days ago already made that prediction. Especially because he only 1 day before predicted, that BTC would go to 11,300 USD which it also did!! Here was the old chart:
D4 has made a new chart, which illustrate his point. This will hopefully make it easier to understand. D4 tried last time to explain it with Elliot Wave Theory. It suggest that we NEED a bigger retracement (Wave 4) before we can go up again, and therefore have to go under 10k.
But let us put that aside, and look at this new 4h BTCUSD Chart. As D4 mentioned yesterday, it was crucial that we penetrated that down trendline. And why? Because here is the result. We are at this very moment, as you can see, squeezed into a descending triangle, where we have huge resistance from the down trendline.
Right now we are at 10,600 USD. There are basically 3 scenarios:
1. We will fall even lower, and through the descending triangle immediately. We have support from EMA200 at 10,300 USD. But as D4 has mentioned many times before, seen from a psychological point of view, it's not a sustainable place to be in. We don't have so many buyers right above 10k (they are under 10k, they want discount), and we will eventually go lower. Not much FUD is needed before people will start to sell because they are afraid of it going under 10k.
2. We will go higher. But as you can see it will be very difficult to get much higher now. We have allowed our self to go to around 11,3k USD again, but we will probably bounce back from the trendline. And NOW we are facing a HS Pattern, which means we will go down because we didn't manage to make 3 higher highs. Even if it didn't happen in the 1st attempt, it would happen very soon after because of the descending triangle.
3. And this is the only way we can avoid going under 10k. We have to break through the trendline AND make 3 higher highs, which means we have to go over 11,8k USD. And then we are not even sure. In some way, we still have to postpone the needed retracement/correction to later.
D4rkEnergY love you <3
PS. Would appreciate if you gave him a like if u liked his analysis. It would mean a lot to him! Thx in advance!
Many people has asked D4rkEnergy, why he thinks, that BTC will go under 10,000 USD since he 3 days ago already made that prediction. Especially because he only 1 day before predicted, that BTC would go to 11,300 USD which it also did!! Here was the old chart:
D4 has made a new chart, which illustrate his point. This will hopefully make it easier to understand. D4 tried last time to explain it with Elliot Wave Theory. It suggest that we NEED a bigger retracement (Wave 4) before we can go up again, and therefore have to go under 10k.
But let us put that aside, and look at this new 4h BTCUSD Chart. As D4 mentioned yesterday, it was crucial that we penetrated that down trendline. And why? Because here is the result. We are at this very moment, as you can see, squeezed into a descending triangle, where we have huge resistance from the down trendline.
Right now we are at 10,600 USD. There are basically 3 scenarios:
1. We will fall even lower, and through the descending triangle immediately. We have support from EMA200 at 10,300 USD. But as D4 has mentioned many times before, seen from a psychological point of view, it's not a sustainable place to be in. We don't have so many buyers right above 10k (they are under 10k, they want discount), and we will eventually go lower. Not much FUD is needed before people will start to sell because they are afraid of it going under 10k.
2. We will go higher. But as you can see it will be very difficult to get much higher now. We have allowed our self to go to around 11,3k USD again, but we will probably bounce back from the trendline. And NOW we are facing a HS Pattern, which means we will go down because we didn't manage to make 3 higher highs. Even if it didn't happen in the 1st attempt, it would happen very soon after because of the descending triangle.
3. And this is the only way we can avoid going under 10k. We have to break through the trendline AND make 3 higher highs, which means we have to go over 11,8k USD. And then we are not even sure. In some way, we still have to postpone the needed retracement/correction to later.
D4rkEnergY love you <3
PS. Would appreciate if you gave him a like if u liked his analysis. It would mean a lot to him! Thx in advance!
Note
Update from earlier. How low will BTC go? And something about The Uncertainty Principle!
Note
Update on Elliot Wave and Fibonacchi Retracement-Theory. How low can or should we go?
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