I hate to boast, but you would too if you were this good. I hate to say it but Bitcoin is somewhat predictable.
How I wish I wasn't in slumberland while it played out its beautiful melody. I would have loved to savour every moment of its graceful descent.
If you are not already following me, then you would have missed out on my on-point analysis of its descending triangle trajectory. Well done if you are and if you took the time to read my ideas thoroughly and managed to find the link to that idea. Kudos to you if you took my advice.
Bitcoin played right into the devil's lair and hit the mark spot on as predicted on the private chart I published for Purple Crypto Premium (above).
It broke easily through the base of the triangle, shot right down into the price range surrounding the end of sub wave 4 of this super cycle and is now hanging around the 0.5 fibb (8500 for BTC/USD and 8578 for BTC/USDT), exactly as predicted.
Papa Bear lets out a big growl. "Enough already", he says, crashing while testing the 1/2 trajectory on the Gann fan, then retreating back to safe haven. The ease with which it broke the triangle through to a previous fair value should open eyes, if it hasn't already.
But is it over? I don't believe it is just yet.
Where to from here? My analysis on Papa Bear Heading Down is still in play. For it to be able to start sub wave 4 of this super cycle, it needs to head back down to said levels in that analysis. It will (should) return to 7800 (USDT) at the least. Whether that happens gradually or not, only Big Brother knows. If I am to guess his desire to maintain a 1/1 Gann trajectory, it would be the former.
The most positive thing you can take out of this is to learn who not to follow. That's right...all the amateurs who said the triangle would break up.
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