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"the bull case for btc"i'd just like to start this off by saying, there is a guy who bought eth at $100 back in the day, the other day he sold off his entire position, and stated "i have had enough with this ****** bear market". (lol) this is the kinda signs i look for before we have an imminent reversal to the upside. ----- all of the anal-cysts who were calling for btc 100k back in the day, are now calling for btc at 20k. the bulls have turned into growling bears, and the bears are swimming in tendies. everyone and their uncle wants bitcoin at 20k, the rich dad poor dad guy is saying hes gonna go all in at 17k, michael saylor is sweating, contemplating his decision making skills. the og bull are capitulating, and there is terror on the streets. ------- this is when i come out and say, when the majority of the market want something to happen, the market tends to throw a big middle finger at them, and does the exact opposite. i'm entertaining the idea that the bottom is in, and no further downside will take place. (possible raid of the local lows to take out the long stops, but no 20k will be seen in 2022). the immediate upside target sits at 130k for the fifth wave, and it will come quicker than you'll have the chance to even blink. one day you'll awaken and see bitcoin up 10k, and the next day will be another 10k. before you know it, it's christmas eve - everyone (including santa) is talking about bitcoin going to 500k, and that's when the real top will be in. 🥂 ps. your boy called the top, and he's about to call the bottom. leaving a few posts down below, feel free to feast on them. big cheers to you if you've made it this far 😎 ps. i am very long.
BITSTAMP:BTCUSDLong
by Eloquent
4
dead bull bounce.a "dead-cat" bounce is a temporary recovery in share price after a substantial fall, caused by speculators averaging down on their losing positions. but a wise man once said, "the market can stay irrational longer than they can stay solvent". ---- there's a lot of leveraged longs in this market right now - for every 1 short there are 15 longs. eventually, high leveraged longs (who weren't willing to take a loss along the way) will run out of money \ won't be able to average down on their losing positions anymore - this will cause an exaggerated wave of liquidations in the crypto space. i foresee this capitulatory event approaching in the near horizon. ---- primary wave 4 target = $22,000
Short
by Eloquent
13
BTC rising wedge to $65k+ then down to $9k-$16k?This is a longer term projection based on the price action that's taken place combined with what I'm seeing from ichimoku + some of the indicators I use. In this interpretation of the chart, we're currently in this rising wedge pattern trying to find a bottom. I think there's likely to be one more retest of the bottom of the structure before a larger move higher begins. I think if that bottom support holds, that it's likely that we start a run between now and June and could retest the top of the rising wedge and/or push slightly above it in that timeframe. If that happened, it would take price to $65k+, where I think we'd ultimately reject, and which would setup a fall lower. After that, towards the back half of 2022, I think it's likely we see a very quick bear market which retraces sharply down to that $9k-16k price target in the gray box. Let' see how it plays out from here. Note: this is a longer term projection and a lot would have to play out between now and then for this to come true. If the bottom of the structure holds over the next couple of weeks and we start a move higher, that's the first indication this idea is playing out. Then we need to see price reject at the top of the structure before June 20th or so. I'll update this idea as price action continues to play out.
INDEX:BTCUSD
by benjihyam
bitcorn 😎good evening, looks like the attempt at the short squeeze has failed, and it was almost expected. --- >btc broke down below a key algorithmic weekly channel. >playing out a sequence of bearish impulses to the downside. few key levels to keep an eye on: 24~25k (monthly 55ema) 24k = -0.236 of wave 5 of the impulse going down. 23k = 100% extension of the larger move down from 68k 21k = michael saylor gets a margin call 19k = 123.60% extension of the larger move 14.6k = 1.618% extension, aka expansion target. where it stops is beyond me, but i can theorize \ try at ever level with a very tight stop. ps. there is a full moon on 5\15, a historical indication of a local bottom \ bullish reversal. ps.2. despite the 60% decline since november, people still seem to be bullish (myself included lol), which makes me think there's more pain to come. when despair sets in, the bottom will be near. ✌
by Eloquent
5
Bitcoin (Macro) Elliott Wave Theory Analysis.Good afternoon peoples; Thought I'd share my macro outlook on Bitcoin with you all. This particular count has been one of the biggest challenges I've ever faced in these markets, but after a few years of experience - I feel I've finally tackled it. ----- To keep things real simple, the chart says it all. I think we're going to see 22k by around July, after which btc will run to 126k. 126k will mark a significant cycle top, and a very large correction will take place after (which could last a few years). I'm not going to talk too much about that right now since that's way in the future, but I will absolutely bring it up when the time comes. ----- The market is by no means linear, so my view is subject to change as more data presents itself in the months ahead. If any significant changes take place, you know I'll be the first to give you an update about it. I've no bias in this market, I don't read\watch the news; all of my projections are strictly based on the methods that were taught to me by a very talented technical trader. I have no idea what will cause these large moves either, nor does it matter to me right now. The chart paints a very beautiful picture, and it is based off this picture which I base all of my trades on, nothing else. ----- Grand Cycle Wave 3 = $126k Grand Cycle Wave 4 = $10k Grand Cycle Wave 5 = $1.6M 💰
INDEX:BTCUSD
by Eloquent
7
btc 5-10 update ~good morning o/ nice little relief rally for da bulls but i'm afraid that's all this really is, a wave 4 bounce. could go as high as 34k before seeing another leg down to around 27.2k (where i will become a buyer). ---- what i have projected on my chart, is the highest probability path i could see for bitcoin from here, to complete the larger corrective phase. PS. if it could push above 34k, then there could potentially be something else going on (view my post from yesterday for more context)
by Eloquent
2
Bitcoin / Gold (BLX/XAU) Chart - 50/200 MA Death Cross nearingOn the Bitcoin / Gold chart a warning signal flashed on April 16th! We are nearing a 50/200 MA DEATH CROSS which will occur on May 4th on the 3-day chart! 50/200 MA death cross are quite rare, especially on the 3-day chart. The Bitcoin price drops on average approximately 50% (measured from the day the warning signal of the death cross indicator flashes - to the bottom)! Disclaimer! We (Asset-Ethology) are not a financial adviser. For educational purpose only! You can use the information from the post to make your own trading decisions. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
BNC:BLXShort
by Asset-Ethology
Bitcoin BTC/USD BLX Short-Term AnalysisShort-term analysis of #Bitcoin on the H6 timeframe: For several months #BTC was trading inside a bear flag which has finally broken to the downside. However, Bitcoin remains strong and the bearish breakout was not as harsh as expected. BTC is currently trading inside a bullish wedge which has in general a probability for a breakout to the upside of approximately 67%. There are several reason why I think that in this case the probability for a bullish outbreak is high in this case: - Stochastic RSI is turning bullish and is moving above the 20 level (note: the StochRSI also looks quite bullish on the 2D TF!) - Bullish crossover on the Wave Trend oscillator - on the H4/H6 timeframes we can see a strong bullish divergence on the MACD - the #Crypto Fear & Greed index is at very low levels and holds its support 20 In addition to this we can see that the bullish momentum on the DXY seems to be exhausted on the H6 timeframe which means that there will be a short-term correction in the DXY. A correction of the DXY is a further bullish signal for crypto as well as for stock markets. Take profit targets: TP1@ $40600 TP2@ $42690 (note: strong resistance between $43k - $45k) Disclaimer! We (Asset-Ethology) are not a financial adviser. For educational purpose only! You can use the information from the post to make your own trading decisions. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
INDEX:BTCUSDLong
by Asset-Ethology
btc 5-8 update~good evening folks, btc seems to be taking the chill route. this route pushes down to 22k over the next few months. ----- >watch for a few raids in the days ahead, >followed by a little short squeeze once enough liquidity has been captured. cash is king during these times. all of the moves up will be sold into (most likely). scalps are the way for the time being. ps. the (triangle) case still remains in tact but is very improbable as of today. once the low of 32.9k is breached, the triangle becomes nothing more than history.
by Eloquent
1
btc 5-6 update greetings, what i have portrayed here is a potential path btc could take to get to the 22k algo target. (not saying this is what's going to happen; this is just an idea). ----- it's not going to be straight down like some people are expecting; we'll see a short squeeze somewhere along the way to push the bears out of the market before the final leg down comes. ----- as mentioned a few days back, i still remain to be in cash. there's no real sign of life for now, thus - no reason for me to be a buyer yet. if a sign of life appears, i'll let you know. have a nice weekend peoples 🥂
by Eloquent
6
few more scenariosgreetings o/ as btc approaches my buy zone ($33,250), things are starting to get heated in the market. --- let's entertain the idea where btc invalidates the triangle idea; because let's be honest - it's very likely that it will. there's plenty weakness in the market, and if it was to drop below the low from jan 24th (32918.7) i could see two potential paths which it could take. #1 - the green path (my worst nightmare lol) green projects what we call an expanded flat in elliott wave theory - where the low is breached in a 3 wave move - all the long stops are raided, but a big player buys right into it causing a squeeze to the upside (most likely to that 50k zone). #2 - the red path (the chill scenario) btc would basically just continue playing out the impulse to the downside + bounce once more time along the way to form a simple zig-zag. that zig-zag would complete the larger wxy which had begun back in november. downside target on both of these sits at 22.8k (the larger wave 4 algo target). --- while i do prefer the triangle, i can't be attached to it. so if it was to get invalidated, i would be ready for whatever shenanigans this market was to throw my way. stop losses are your friend, cash is king; stay safe my peoples. ✌
by Eloquent
2