Is the Correction Over?In each cycle, from the bottom to the high in the pre-halving rally, #BTC has seen an increase of 330%-370%, followed by a minimum correction of -38% or, with the exception of the rule (pandemic), -62%.
At this moment, a 38% correction means a price of $45,700, while a -62% correction means $27,900. However, I don't think we will see such a large correction now.
#Bitcoin could drop below the $50k zone as there is a lot of liquidity waiting to be taken from there.
The price from here could have reactions, but I don't think it will make a new ATH from the low at $53,700.
Blxusd
BLX Year by YearYear by Year Bitcoin (BLX) logarithmic chart, ready for a Massive Explode in 2024.
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Elliot wave nearing 4/5Obviously the debt ceiling was going to be expanded since the Americans will not give up their "credibility" and the world reserve currency Expect weekly to close around $27.250
Wednesday
- French, Italian, and German inflation YOY
- Japanese Consumer confidence
Thursday
- Inflation and unemployment rate eurozone YOY
- US ISM manufacturing PMI
Friday
- US Unemploymentrate and non-farm payrolls
Looks reasonable to retest the former range when taking the Elliot Wave into account, $25.200 range top June 2022 – March 2023 has a lot of liquidity. However I am bullish from here
Target for June would be approximately around $35
I am sorry if you don't want to understand BitcoinOn the monthly chart, bitcoin is now moving around the price level of the 0.382 Fibonacci retracement drawn from the 2018 bottom to the all-time high in 2021.
Twice before, this level was exactly the bottom for bitcoin; quite soon after—usually within 3 months—it prompted bitcoin to resume its bull run.
Tom DeMark Sequential shows a 9 each time at the monthly bottom. The September monthly candle close also very nicely notes another 9.
My expectation is that around January 2023, we can expect another spectacle in terms of a sharp price rise.
Historically, it is another unique buying opportunity; don't miss it.
Keep stacking those scarce sats!
Strong support for bitcoinAttention! Incredibly long text!
A huge cluster of pending orders to buy Bitcoin will not allow the price to drop to the $13,000 area expected by everyone.
In addition, these conditions will allow the market maker to move the market to the $32,000-$38,000 region in order to use a trap for marginal bears and their subsequent liquidation.
BTCUSD Fibonacci Time zonesI have drawn a Fibonacci time zone for each cycle from the top to the point the bottom is reached. After this, the Fibonacci sequence begins to count.
I am starting at the top of 2011 to the bottom at the end of 2011, and these time zones count in vertical black lines.
After this, I drew another Fibonacci time zone from the top of 2014 to the bottom in 2015, and here again, a new count starts and is visible in dashed lines.
Finally, from the top of 2017 to the bottom of 2018, I once again drew a Fibonacci timezone, which is visible in the dotted line. Based on the Elliot Wave principle, in which waves 1, 5, 21, and 89 are cycle peaks, and waves 2, 8, 34, and 144 are complete market cycles.
When I apply this principle to the drawn fib time zone tool described above, I conclude that it gives pretty accurate insight into when possible tops and bottoms are set; each number of each illustrated fib tool is in a different subdivision and grade.
For example, the 3 indicates when the price will reach an all-time high for the first time after a bear market; I marked this in orange.
Red indicates a top of a bull market, and ditto for 13 and 21.
Number 8 shows the bottom of the bear market.
We are again at point 8, where a bottom would be set. In my view, Bitcoin is getting ready for another first impulsive wave of a new trend.
In my Elliott Wave count, in 2019 to 14k wave 1, ABC correction with wave C completed in March 2020. This was followed by an impulsive wave 3 ending in early 2021 and then a truncated fifth in November 2021.
Blx macro ending diagonal idea!Although we havent confirmed bottom yet we still have same legacy top trend line! BBlx has broken 21/233 ema bearish for the first time in history of weekly chart. I expect 10-13k bottom but we are near the 1-1 fib of our correction and historically corrections have bounced at the .786! Not claiming a bottom here but when we are finished correcting I think this Elliot wave count will hold true!
Rules for ending diagonal:
* Ending diagonals consist of 5 waves, labeled 1-2-3-4-5.
* Each wave subdivides into threes. Waves 1 and 4 overlap in price.
* Wave 3 can not be the shortest among waves 1, 3 and 5.
* Wave 1 is usually the longest, but not necessarily.
* Usually occurs in a wave 5 of an impulse and wave C of an A-B-C correction
Bitcoin and what to look for #2This chart is essentially a continuation of the "bitcoin and what to look for" a while back. I have added the "HTF log oscillator" and the new "Mayer multiple bands" by (TXMC) indicators.
This chart only shows what to look for and possible events to come. This is not a prediction and not financial advice. Always invest with caution and a risk tolerance you can handle.
I also have outlined a possible HTF outcome and what to look for as a path to bullish movement and bearish movement.
I also want to point out that we have "hidden bullish divergence" on the HTF Oscillator. So we should expect a pump, but to where is the question, New highs or retrace?
*Put time in the market don't try to time the market*
Is this a bold call?This is not a prediction just an outlook. In fact it would be crazy if it happened anywhere remotely close to it. LOL
This chart is for educational purposes only
In order for this or anything remotely close to this happening, the market cap would to 12x to 15x in an approximate year or a little over. IMO it's too much too fast.
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BTC - More Circles!Pivotal points line up nicely with these two circles drawn during the early bullish phase of the market and the later bullish phase of the market
We are in a comparable point to that in the first blue circle
Previous bottoms line up nicely with 3.618 and 4.236 of the first bullish circle drawn
BTC - Further DiggingIt can be seen on this chart that the horizontal lines of support align with previous secondary bull market tops (in red)
The hammer situation are comparable points
What is really interesting though is that the Gaussian Channel structure on this 3D chart is very very similar to that of the pre 2016 bear market
This may result in a low for BTC at around 13 - 14K
This could be considered an addition to my previous post for BTC
$BTC $32k-37k needs to hold, otherwise $23k-29k is coming.I exited all of my crypto positions last night after we lost support at $39.3k. We really needed a bounce there for the structure to hold up and bounce higher. Now we've just printed new lower lows. The reason for exiting here is because now I think there's more risk than reward, so I'd rather sit and watch things play out than have my money sitting in the market if what I'm about to say is a possibility of an outcome.
After zooming out and looking at the chart again, it looks like we've just tested resistance twice at $45k and each time it formed another lower low on higher timeframes (you can see this by looking at the chikou which I've drawn a circle around on the chart).
In the short term (next few days to a week), I could see us either trying to retest and break $43k or testing $45k one more time, but if we reject those regions, then the likelihood increases that we're going to see new lows. The other scenario is that we just roll over, but I lean towards a move up first to convince people we're going higher.
Why do I think we're going to see the $20k region rather than just retesting the low $30ks? Well, if we break $37k which I think is likely because it's already been tested multiple times, then the next area of support is $32k. We've already broken through that $32k region back in May-July and just retested it as support in January, so that support is already weakened. The $29k support has already been tested 3 times from May to July, so that support has weakened as well.
So the most likely scenario to me at this point is that we break through all of those supports and retest the $23k level which hasn't been tested since we've gone up.
Of course, it's not a guarantee. I've listed out numerous things that will need to happen between now and May for this to play out -- we'd need to reject $43k-45k, then lose the $37k support. But if those two things happen, it increases the chances of this idea playing out. Then we'll need to lose the subsequent levels on the chart.
$23k is where I'd want to buy a buyer of BTC. Bad news aside, I think that region will be a great spot to buy BTC as we should see a massive bounce after that.
Let's see what happens over the coming weeks.
$BTC bounce to $51-$56k to confirm resistance, then lower?Pretty much the same chart as I posted last time, just updating thoughts and timing a little bit now that price action has played out more.
I'm fairly confident that this move down right here will mark the short term bottom. I'm thinking that we could get a strong bounce up to the low to mid $50k range ($51k-56k) as the next move to confirm resistance, which would then setup a fall lower. The question then would be how low we go?
I could see us just going back to retest the $32k-$34k bottom of this structure, which would setup a larger bounce higher after (this is my bias right now). Or, I could see us breaking through the structure and testing $23k. In either way, stay cautious in the coming weeks/months, as a rejection in that $50k range would setup a sharp decline lower.
I've just gone fully long and am targeting to exit crypto again sometime in March/April. Then should the move lower play out, reenter towards the end of May.
Let's see how price action plays out from here.
BLX / BTC ComparisonAs price hits the middle of the channel, this analysis shows how price still has the potential to extend from here to the top, as it has done in the past (indicated with green)
We are in a massive channel, right now as price is close to the major lower trend line , an entry point arises
Some of my older posts, below
Show a large parabola, this line is currently being tested if it hodls and bounces strongly continuation up is likely
Here are some more analyses
BLX Thoughts Current - BITCOINCurrent thoughts on the mind when looking at the BLX chart, price has reached a weird place in its constant evolution
The most right red dotted line is where the bear move should continue to if we have experienced the top, but that would violate the BLX Channel indicator using
I would like to see bull continuation personally
Crypto Outlook for 2022 and 2023Posting so I can look back at my analysis. This is my outlook for 2022 and 2023. I believe we will see a BTC peak late 2022 or early/mid 2023, then alt coins will rally shortly after. I speculate the BTC/USD evaluation could reach $180K.
Some uncertainty around the current global state and foreign affairs.
What if BTC is still in Wave 4?• Since Apr’21, BTCUSD has been consolidating in a range.
• Wave (2) was relatively clean and simple. Wave (4) is thus likely to unfold as a more complex and frustrating correction.
• Dubious speculation: the $69K top might be the end of the B Wave in a running flat correction, and we are still in the C Wave, (4) in the larger wave count, which will bottom at around a weekly close of $35K by mid-Mar’22. OBV corroborates with this possibility.
• If so, then assuming Wave (5) starts mid-Mar’22, and reflects the strength and duration of Wave (1), then we can expect BTCUSD to close a weekly at approximately $125K end-Oct’22.
• We should pay more attention to the charts as it nears $35K.
Bitcoin last wave 5 inside Main Wave CThis is my Elliott Wave scenario. FLAT ABC is clean. 2 main possible targets i see are the 100% at 32574$ and 24403$ at the 123% Fibonacci. I will post an important chart of historical Bitcoin bear market retracement, you will see that Bitcoin always had retraced on the LOG 0.3 or 0.382.
$BTC bounce to the low/mid 50ks? Then down to the $30ks again?Alright, updated all of my previous analyses w/ thoughts that we're bouncing here rather than seeing further downside.
The initial support at $39k was hit, and while I thought we'd see further downside before a move up, it looks like we're bouncing here at $41k and holding support.
I think the most likely scenario from here is for a bounce higher to play out and reject at either the $51k resistance or $54k resistance to the upside, reject at either one of those levels-- which would setup the downside move that I was expecting to either $34k or $29k supports.
The reason why I'm expecting a bounce here is because we're forming a bottoming pattern on lower timeframes. The indicator that I use to measure momentum/strength is extremely oversold on many timeframes and because we started to see buy volume come in after the stock market closed today and saw an initial bounce.
Idea would be invalidated on a break and close below the lows at $39k.
Let's see what happens from here.
BTCUSDT, This is pullback or Not ???Hello everybody
We backed we another analysis of Bitcoin
According to the chart you can see the price was in pattern of channel, and expect the price should drop more to reach to the bottom of channel but that analysis failed and the price break the trendline trading that shown us power of the market.
At this time i want to tell you the scenario of the market that is important to us because of the sensitive of market is very high and we should have scenario to take decision to what to do.
The breakwave of trendline was made and we are in pullback to it and until the key point level is not break below and consolidation at there the trend of movement is upward and we can go up to reach to the trendline resistance that we shown on chart, but if the market cant consolidation above of the key point level and hold this level the price should drop until to reach to the bottom of that channel that we shown on previous analysis.
These 2-3 candles its most important that can make way to the market
Previous analysis :
Good Luck
Abtin