Good morning my fellow Bitcoinistas! Today I want to take a quick look at something called the "Mayer Multiple". It is simply a multiple of the 200 day moving average. This guy named Mayer noticed that when Bitcoin was under 2.4 of the multiple Bitcoin was a good buy. Well, we are currently at 1.18 On my chart the purple average is a study I made that is 1.1...
For my future reference.
Even with the most recent dip, maybe even more so, the idea of a 5 Wave move North still works. The Fibs still line up as one might expect.
It's time for me to go poke some Bears in the ass.... Prepare to defend yourselves you filthy animals! Arrrrrrrghhhhh!!!!!!!!
Everybody keeps saying that Bitcoin is forming a bearish triangle. I don't know, it looks pretty bullish to me.....
Good morning my fellow Bitcoinistas! Here is a current look at my overall work throughout this correction\consolidation. Many say we are going lower. Many say Bitcoin has topped out. Many say it's over. I say "Damn the torpedoes, full speed ahead!" I believe we have just completed Wave 1 of the first 5 Wave move North. We are currently working on the...
Even if Bitcoin did nothing more than slink along its multi-year trend-line it would be well over $25K by this time next year. Forget BAKKT, forget the halving, forget everything. If Bitcoin just follows its long-term trend that is what you would get. From $10.5K right now to $25.5K in about a year. That's not bad for one year. And that is just if it...
I just want to see if this count is even remotely close considering there is very little to go by at this point.... Good luck out there.
Hello my fellow Bitcoinistas! I hope you enjoyed your long weekend for those of you that had one. I certainly did. :0) I'm going to go out on a limb here and suggest that the main correction is over. That's right, over. Unless this "Double Three" correction were to turn into a "Triple Three" correction which means we would need to tack on another X Wave...
I hate corrections. I've tried to make that triangle work every way I know how and it just doesn't fit. I've gone back to looking at a 5-3-5 Zig Zag as the final move for this Double Three correction. Wave 1 and 2 are now obvious. When I put the Fibs on Wave 2 (not shown) it was a perfect fit. That now means we are in Wave 3 down. Where does it end exactly? ...
Well the last bullish looking triangle broke bearish so maybe this bearish looking triangle will break bullish. If not, I think $8,500 is on the menu. At this point I wouldn't mind seeing $8,500 so people will STFU about the fake CME paper market gap.
If I had not been a Gold Bug looking for sound money years ago I probably never would have bought into Bitcoin when I did. Once you know what real money is, you know how to recognize it when you see it. It's also why I continue to buy the metals as well as the cryptos and the metal derivatives with the cash I can't get out the market without penalty. Gold,...
Hello my fellow Bitcoinistas! Is it possible? Is this complex correction about to end? It could be. After reading up on "double three" corrections we have a Flat, followed by an (any three) X Wave, followed by a 5-3-5 ZigZag OR...…………… a TRIANGLE. Well, this crazy shit they call a chart looks more like a triangle forming than anything else. Do you...
Good Morning my fellow Bitcoinistas! I am still pondering how this 3rd corrective pattern will end, but end it will. And when it does end WATCH OUT MOON ! For those of you new to my work I am still 100% long Bitcoin and have always held a small long position since 2013. Yes, I have traded a little BTC here and there over the years and taken some profit but my...
It would appear so....
Good morning my fellow Bitcoinistas! It looks like the pattern from my previous charts are playing out very well. A 3-3-5 Flat, X Wave, followed now by what looks to be a 5-3-5 Zig Zag. This chart zooms in on the Zig Zag to show how the count may play out. If Waves 1 and 2 are complete then we are currently in Wave 3. This Wave should complete soon IMO, and...
I hate to say it guys but this correction might not be over. What I can say with confidence, however, is that we have already completed a text book 3-3-5 Flat Correction and that did not end the overall correction. Then we completed what looks to be a large ABC pattern or X Wave and that did not end it. From what I have studied some corrections become more...
I worked the hell out of that last count and gave it every opportunity to succeed. But, at the end of the day, it failed. First I got sad, then I got mad, then I got back to work! This chart is the result. The triangle is a perfect fit, the WXY fits, and, if we are to continue higher, the current count with Fibonacci confirmation fits. A bounce off the 61.8...