[Bitcoin ] The Time Has Come! THE BITCOIN FINALE!
Hello everybody and welcome to the GRANDE FINALE of "IS BITCOIN GOING TO 3k OR 50k!?"
I just for some odd reason felt like sharing some epic insight into what BTC is up to right now.
On the chart, I have drawn the typical Ascending Wedge pattern that BTC loves to print ALL THE TIME (HINT = All The TIme = Easy to predict what BTC is up to! )
As you can see I also drew the "Ping Pong" pattern inside the Ascending Wedge.
I was an idiot to not remember the "Ping Pong" "Top, Bottom, Top, Bottom " "From point A to point B, To point C, To point D, To E and so on ) Easy shit, just use the brain in real-time and don't get distracted. Cost me 15% being an n00b not seeing it instant at the second touch of the bottom line (the point where the formation can be drawn). But who cares when the outcome should be + 100-200% profit. (margin 5x)
I also threw up the legendary "Fib Retracement Tool" so we easy mode can predict where BTC is most likely going - if it ends up being to the downside.
- The green line (0,5 = 50% drop) is like 50% likely to be where BTC finds support. Again, piss easy, that is how it is like most of the time. If BTC does not find support between the green line and the blue line just below the green. BTC will likely go further down and test 3800 levels again and maybe even go to 2k levels. - Only the market goliaths know the exact numbers because it is they who buy the bottom and thereby "create" the bottom.
I also put up the "Visible range" version of the "Volume Profile" indicator.
- This indicator shows the price points where there has been most "price action" in the past. Lovely tool. It also shows the 0,5 Fib (green) line as highly likely support for btc. So that would be my guess for support if BTC drops.
Upside? If BTC breaks 10:500 strong my guess is 20k+ and new highs. But nothing is really pointing towards this. The corona crises are over in the economical markets due to endless money printing. It looks like the whales is just dumping/taking profit and been doing so for the last few weeks. Also remember an ascending wedge is a bearish chart pattern (most likely ends in a drop).
- I HOPE that BTC goes 20k+++ but the chart is not really bullish. I think/hope it will happen after this pullback. ( indicators are on the bearish side also, RSI, STOCH, on several timeframes like the 12 hour/1 day/2 day charts)
I love BTC, so stupidly easy to predict what is going to happen with this asset. It becomes easier for every week you study this asset. At least for me. It is always the same over again and again.
The hard part is the details when you use Margin/Leverage trading. ( you need to trade close to perfect lol )
And the mental part.
Reading the chart is the easy part.
Have a nice day and sorry for sounding like an arrogant idiot today =)
- Remember, the harder you work, the better results you will get. But never forget to use your brain and reflect over everything in life =)
Best Wishes
- Confucius-The-Great
I just for some odd reason felt like sharing some epic insight into what BTC is up to right now.
On the chart, I have drawn the typical Ascending Wedge pattern that BTC loves to print ALL THE TIME (HINT = All The TIme = Easy to predict what BTC is up to! )
As you can see I also drew the "Ping Pong" pattern inside the Ascending Wedge.
I was an idiot to not remember the "Ping Pong" "Top, Bottom, Top, Bottom " "From point A to point B, To point C, To point D, To E and so on ) Easy shit, just use the brain in real-time and don't get distracted. Cost me 15% being an n00b not seeing it instant at the second touch of the bottom line (the point where the formation can be drawn). But who cares when the outcome should be + 100-200% profit. (margin 5x)
I also threw up the legendary "Fib Retracement Tool" so we easy mode can predict where BTC is most likely going - if it ends up being to the downside.
- The green line (0,5 = 50% drop) is like 50% likely to be where BTC finds support. Again, piss easy, that is how it is like most of the time. If BTC does not find support between the green line and the blue line just below the green. BTC will likely go further down and test 3800 levels again and maybe even go to 2k levels. - Only the market goliaths know the exact numbers because it is they who buy the bottom and thereby "create" the bottom.
I also put up the "Visible range" version of the "Volume Profile" indicator.
- This indicator shows the price points where there has been most "price action" in the past. Lovely tool. It also shows the 0,5 Fib (green) line as highly likely support for btc. So that would be my guess for support if BTC drops.
Upside? If BTC breaks 10:500 strong my guess is 20k+ and new highs. But nothing is really pointing towards this. The corona crises are over in the economical markets due to endless money printing. It looks like the whales is just dumping/taking profit and been doing so for the last few weeks. Also remember an ascending wedge is a bearish chart pattern (most likely ends in a drop).
- I HOPE that BTC goes 20k+++ but the chart is not really bullish. I think/hope it will happen after this pullback. ( indicators are on the bearish side also, RSI, STOCH, on several timeframes like the 12 hour/1 day/2 day charts)
I love BTC, so stupidly easy to predict what is going to happen with this asset. It becomes easier for every week you study this asset. At least for me. It is always the same over again and again.
The hard part is the details when you use Margin/Leverage trading. ( you need to trade close to perfect lol )
And the mental part.
Reading the chart is the easy part.
Have a nice day and sorry for sounding like an arrogant idiot today =)
- Remember, the harder you work, the better results you will get. But never forget to use your brain and reflect over everything in life =)
Best Wishes
- Confucius-The-Great
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.