Circles
Here Comes Bitcoin’s Future!
13 APR 20
Bitcoin Clock is now reporting the Bitcoin Block Halving will take place on May 11, 2020. The note on today’s chart helps me remember how long I have been aiming for the target of $3,113.05 (or lower) per Bitcoin. Since September 3,2019 the original target date has been before the beginning of June 2020.
So now that 2020BS (Black Swan) is well underway I thought it would be the best time to preview where Bitcoin might go the next time a dime crosses it’s path. It’s a lot like finding a few very profitable Precious Metal Mining Companies. Your Tracking History can tell you which worked in the past and what type of behavior is rewarding to the stakeholder or HODLer, not just the Board or the Market Maker or the Bitcoin M&T. (Marketers & Token Generators). Also, like Miners, you have to begin with a reasonable collection, (say 7-10) prospects and watch them for months while you weed out the ones that will not end up being 10 baggers. After a while you get it trimmed down to just 4-5 likeable patterns just like we have here. No I’m not suggesting you go buy any ALT coin although some mining plays look to have a bright future right now.
On this chart I have used two Bars Patterns in different arrangements beginning with Yellow as the oldest. The second Bar Pattern added is White and all others are made from it such as the Green and Blue end up being the exact opposites of each other. As often as the trend appears to change direction with Bitcoin it will never be reduce to just one. And it’s not always financially rewarding to limit yourself to just one possibility. An expanded mind is necessary to gain a clear vision of Bitcoin’s possibilities.
Along with the Bar Patterns I mentioned before that I like to use the Fib Circles. I’ve hidden most of them for clarity but if you want to know what’s missing you should head over to OPTICALARTdotCOM where I get mine. I also like to compare where we’ve been with where we might be heading by using the Fib Retracement graphs. Knowing how chart patterns interact with certain levels on the Fib Retracement tool will help you set targets for where you might want to get in or stay out of Bitcoin.
Happy Trading Everyone.
Thank you for letting me shares my Bitcoin Study. I hope it helps you see the path forward in all your trades.
Remember. This is not trading advice. It is for Educational Purposes only. Follow me if you wish. I do not use Twitter or Face Book. Please engage the like button and add your comments below.
Short term Tezos play up to $2.66 then back down to $1.98.This is just my calculations using Fib circles and Fib lines to guide me on the possible next few weeks' outcome for Tezos. This is just my opinion and not meant for trading advice. Please do your own research and understand that this market is extremely volatile. Given that the Bitcoin halving is just weeks away I believe we could see a move to the upside with Tezos. Now, could we go lower with Tezos in case Bitcoin falls another couple thousand dollars to the $4400 range? Yes, this can happen and if so Tezos will go lower as well. Please be cautious.
Note also that we are about to come in contact with the 50-day moving average and when this happens Tezos usually has broken above the 50.
The last low before Bitcoin makes its 2.5/3 year target of $250kLast capitulation point before we correct and move to the upside. I have Pitchforks and Fib Circles on the chart. Understand that this is all speculative and not for certain but from what I am learning as I move forward with this market this is my opinion and future target. Tim Draper continues to be positive on this $250k target.
Double Fib Circles for Historical ReferenceThe Orange Fib seems to catch tops especially well. The white fib is a new one that needs a little tweaking. I think BTC is in a clear bearish structure as it shows lower highs from June 2019-Jan 2020 *current month*. However, I think we are starting to hit key buying points and the FOMO is strong with the halving coming up. Long-term I see btc continuing to decline in price until a clear use-case is widely adopted.
Is This A Massive Buy Signal On BTC?The Pitchfork and Fib Circles are made by the lord of the rings - @snookerer which Idea is below in the related ideas section.
On top of this, I'm using CryptoVN_Trend as the main oscillator and it gives green dots as buy signals which I've aligned with the green arrows to show on which candle the buy signal was fired.
What you can see is that the previous time this pattern happened was when we had the 3.3k BTC bottom a year ago.
It starts with one dot, then a big pump candle followed by a downward slope which takes 8 candles (40 days).
Then we get a second green dot buy signal and we also break out of that trendline which the downward slope created and it takes 9 bars the second time.
At the same time, we are holding support by the yellow ring which pushed us up pretty high last time.
At the same time, we just bounced off 6400 which is arguably the strongest support BTC has.
Just one more note: The same signal is showing up on a weekly chart too so unless there is no major crash in the next 24 hours this is a very powerful signal usually.
Altcoins - Trend Line or Fib Circle - something's gotta give!Here is a long term analysis of the altcoins market cap. We are sitting on a pretty strong horizontal resistance, but we are being pushed by this fib circle which was never broken before.
As its a 3D chart this will be resolved rather quickly, but as you see many fakeouts in history where we break a line, just to have a massive move on the opposite side in the next candle.
If we do break the fib line and confirm it as support it could be the beginning of a nice mini bull run for alts!
BTC: It's Capitulation Time.It's time! (I wish I could add Bruce Buffer's voice right there) It's what many of us have been waiting for, and the rest of us have feared. Within the next week or so, it will begin. Prepare yourselves. There will be great buying opportunities ahead. This (upcoming) could be the last great buying opportunity for Bitcoin EVER! I'm not saying sell the Bitcoin you have. I'm saying sell any belongings you don't need in preparation for what is about to happen. Be prepared to buy BTC, ETH and most of XRP. XRP will once again be the biggest gainer. #0doubt