Bitcoin bull year 2021 and bear year 2022
Updated
Hello all!
Today I'm following up on my previous idea: #TwoMonthsOfBear. In the description of that idea I explain how I calculated the flag target (very low 20k range).
I'm short term bearish and bullish for the second half of 2021. Market will decide if it echoes this idea. Wishing everyone a nice day!
/salute Shiningforce
Today I'm following up on my previous idea: #TwoMonthsOfBear. In the description of that idea I explain how I calculated the flag target (very low 20k range).
I'm short term bearish and bullish for the second half of 2021. Market will decide if it echoes this idea. Wishing everyone a nice day!
/salute Shiningforce
Note
Hey friends!That was one big scary correction today. We dropped straight into the green box. And that made me doubt the double correction I expected to happen. I was looking for a drop to 37k some slow upwards movements to 42k-43k and after that slowly back down to the mid 30k range. Which would ultimately speed up downwards to 26k and finally bottoming out in the low 20k range (mid June 2021).
Now I'm not sure anymore. This seems like a completed H&S which Bitcoin will probably just ignore and start a new upward channel.
On my #TwoMonthsOfBear idea (see related ideas) I made some small mistakes. I talk about Bitcoin working on a death cross but that ain't happening soon (1D 50MA/200MA cross). And in the comments I say bearish cross completed (1D 50MA/100MA cross) and that hasn't happened yet. And after today I'm not sure if we see that happening anytime soon.
I'm trying to adapt here. So give me some time trying to figure it out. Maybe we skip the whole mid and low 20k range correction and Bitcoin starts a new channel where 43k-49k upwards ranging will take place. Bitcoin could reclaim and retest 50k (top of orange block). Should that happen I think we will grind slowly towards 60k and altcoins can start running hard during that time (mid June 2021- end of August 2021). September 2021 and October 2021 could be used for breaking 60k and move towards high 60k range followed by retesting the mid 60k range.
After that maybe we see the fabled golden bull run where both Bitcoin and altcoins go up together for months.
/salute Shiningforce
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