Wild A.I. Forecast & TA Say_________?Bitcoin/USD Daily Bars, LOG Scale, 06/12/18, 11:10 PM EST, by Mike Mansfield
(REDONE SO CYCLES FIT)
Hi trader friends, this is one of our most detailed and important Bitcoin updates. Our first post with screenshots of our deep learning A.I. project’s 12 month forecast. I will post those screenshots after this clears the 15 minute publishing hold. So let’s get to it.
SUMMARY:
BTCUSD is likely to drop another 30-60% over the next 4-12 months, possibly 18 months.
Short-term cycle lows are expected in July and October 2018.
The mid-July 2018 cycle low should be followed by a 3-8 week trading bounce. Then, another big down wave into early to mid October 2018.
October could be “the low,” but we are thinking next year, based on our data.
The final cycle low, or momentum lows are expected to be in February 2019 (A.I. low date), or June 9th, 2019 (pink cycle low), or possibly January 2020 (blue cycle low).
Initial price targets lower are $4935, then $2967-2380 (or lower).
A.I. project forecasts 12 month low @ $2774, due in February 2019.
The deep learning A.I. project’s forecast is confirmed by Elliott Waves, Andrews Lines, Wolfe Waves, and a few other techniques shown here, most suggesting much lower prices ahead.
Bitcoin has broken its “low to low” support trend-line.
Will likely close below the Andrews Median Line (orange pitchfork's mid line), which, would put Bitcoin below the black dotted trend-line drawn off the lowest closing prices of 2018. Once broken, the first three price targets to the downside become quite likely.
Time Cycle Caveat:
We are working on pattern matching comparison called an analog. This suggests an October 2018 low. That fits the secondary A.I model's forecast, but not the top performing algorithm's forecast (February 2019 low). Remember, two of the longer-term cycles are pointing to either a June 2019 low (pink cycle), or January 2020 low (blue cycle). Therefore, the October low this year seems less likely thus far, but not out of the question.
Truth Seekers & The Crypto Land Bear:
Are you a “truth seeker?" Really a truth seeker? If you want to be a more objective trader, be a truth seeker. Try to be a truth seeker in all things. Accept that there are many possibilities in life, as in trading. Seek to find the ultimate “truth," but while doing it, at least for trading, go with the highest probabilities. Else, you'll live in La La Land of wannabe moonshots for every crypto market. Of course, some tokens moonshot, even in a bear market. But, as the top 10-25 go, so goes most of the market.
PRICE TARGETS:
Target 1: $4935, likely minimum target. It's the prior Wave (3) high on Sept 1st, 2017.
The “forever trend-line” (black upward sloping) is currently around $3700. Yet, by the time the market could logically get there, that trend-line would likely be around $4450-$4950.
Target 2: $2972, the June 2017 high of the prior Wave V of Wave (3). This is close to our
A.I. derived target. Outcome, likely.
Target 3: $2774, A.I. deep learning 12 month projected low, due February 2019.
Since target 2 and 3 are so close, just a blip in Crypto Land, I would be targeting a low between those two figures, unless more data changes the A.I. forecasts. Target, likely.
Target 4: $2380, September 15th, 2017, Wave ii low.
Target 5: $1138, where the Wolfe Wave support (purple line) and the prior Wave ( III) high of large degree meet. This is a potential attractor point (less likely now). There is a far lower target, but I'll let you find it on the chart.
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The good news for bulls is that the Alternative Wave Count (lighter blue) could very well be correct. That would mean one more all-time high to complete Bitcoin’s Wave (V) advance.
BOTTOM LINE:
Down 30-60%, Feb. or June low, around $2774.
DISCLOSURE:
This analysis is meant for educational purposes only. You trade at your own risk!
Cheers and best wishes,
Michael Mans
