A very different approach to why Bitcoin COULD be at rock bottom
Updated
I have noticed this pattern is extremely prevalent throughout all financial sectors. I call it the bat pattern.
It consists of 2 wings and a head, or a 3-part series in cycles. 'Wing' 1 is usually sharp uptrend, followed by
sharp downtrend. the 'head' is consolidation/accumulation, and 'Wing 3' is the final uptrend of the cycle that
brings us back into 'Wing' 1 as it completes. If the theory holds true, we just completed a 'Wing' 1.
Inside both wings is a 5-wave Elliott sequence. Notice what happens when the pattern completes a full 1,2,3 bat.
I am still trying to fine tune this price discovery technique, so the definitions of the 'Wings' and 'Head' may change.
If this price discovery strategy is valid, it would mean we are in the 'head' phase, which means we are very, very
close to beginning new long-term uptrend.
On BLX, I believe the pattern may have just completed on the monthly for Bitcoin. What's even better than that...
With this correction I also believe we may have just seen the very first complete and full long-term bat pattern.
Wave 3 long-term. When/if it hits I believe we may see a new all time high that makes 20k look like lunch money.
I'll post examples below to give you an idea of why I think 2019/2020 could make fiancial history.
Example charted on BLX of why I believe Bitcoin may be beginning long-term uptrend based on this pattern:
This particular example is assuming we have farther down to go since I'm very bearish right now. The prices aren't what to look at on this chart though, the pattern is. If the pattern just completed and the fundamentals become bullish enough we may just uptrend from here with a 'head' eventually turning into 'Wing' 3, creating a new ATH. If however the pattern is actually valid, it would mean that the REAL stupidly life changing price movement is still another few years off yet. That would be 'Wing' 3, and at the moment I believe we are forming the head.
Other examples of this pattern showing up in every chart I can look at right now:
Some Bitcoin examples:
And finally, Bitcoin possibly finalizing a Wing 1:
I'm gonna be honest here. I still do not know how to define the 'Wings' and the 'Head'. It seems more like there are just 3 plain cycles that play out, which grow in intensity as they near 'Wing' 3.
So far, I've noticed there is no rhyme or reason yet to how high or low a 'Wing' will go versus the 'Head' or the 'Head' will go versus the 'Wing'.
Work in progress as I just started paying attention to seeing this pattern.
Call me crazy, but I see it. I see it all the time. I've even caught massive Wing 3's before by spotting the head as it finished, though most heads are very difficult to spot on the chart while they are forming.
I will update as I go along, if I find better suited definitions for the 'Head' and 'Wings'.
Yes, I know, this is very far-fetched, but if you pay close enough attention you will start to see it too. 'Wing' 3 is almost always MASSIVE movement of some sort. By as early as next year, we may see it play out.
Just a final chart to make you think a little bit.
It consists of 2 wings and a head, or a 3-part series in cycles. 'Wing' 1 is usually sharp uptrend, followed by
sharp downtrend. the 'head' is consolidation/accumulation, and 'Wing 3' is the final uptrend of the cycle that
brings us back into 'Wing' 1 as it completes. If the theory holds true, we just completed a 'Wing' 1.
Inside both wings is a 5-wave Elliott sequence. Notice what happens when the pattern completes a full 1,2,3 bat.
I am still trying to fine tune this price discovery technique, so the definitions of the 'Wings' and 'Head' may change.
If this price discovery strategy is valid, it would mean we are in the 'head' phase, which means we are very, very
close to beginning new long-term uptrend.
On BLX, I believe the pattern may have just completed on the monthly for Bitcoin. What's even better than that...
With this correction I also believe we may have just seen the very first complete and full long-term bat pattern.
Wave 3 long-term. When/if it hits I believe we may see a new all time high that makes 20k look like lunch money.
I'll post examples below to give you an idea of why I think 2019/2020 could make fiancial history.
Example charted on BLX of why I believe Bitcoin may be beginning long-term uptrend based on this pattern:
This particular example is assuming we have farther down to go since I'm very bearish right now. The prices aren't what to look at on this chart though, the pattern is. If the pattern just completed and the fundamentals become bullish enough we may just uptrend from here with a 'head' eventually turning into 'Wing' 3, creating a new ATH. If however the pattern is actually valid, it would mean that the REAL stupidly life changing price movement is still another few years off yet. That would be 'Wing' 3, and at the moment I believe we are forming the head.
Other examples of this pattern showing up in every chart I can look at right now:
Some Bitcoin examples:
And finally, Bitcoin possibly finalizing a Wing 1:
I'm gonna be honest here. I still do not know how to define the 'Wings' and the 'Head'. It seems more like there are just 3 plain cycles that play out, which grow in intensity as they near 'Wing' 3.
So far, I've noticed there is no rhyme or reason yet to how high or low a 'Wing' will go versus the 'Head' or the 'Head' will go versus the 'Wing'.
Work in progress as I just started paying attention to seeing this pattern.
Call me crazy, but I see it. I see it all the time. I've even caught massive Wing 3's before by spotting the head as it finished, though most heads are very difficult to spot on the chart while they are forming.
I will update as I go along, if I find better suited definitions for the 'Head' and 'Wings'.
Yes, I know, this is very far-fetched, but if you pay close enough attention you will start to see it too. 'Wing' 3 is almost always MASSIVE movement of some sort. By as early as next year, we may see it play out.
Just a final chart to make you think a little bit.
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Hmm..
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1W1M
2M
12M
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The ... daily..We're in the head.
uready?
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The ... daily...Note
2 wings and a head spotted on smaller TF's:Today be should be a fun day. :D
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Just saw this in Tron. Thought I'd share.Let's see what happens.
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Putting these here for later
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The biggest one of all
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