Bitcoins first triple bottomA simple idea about the possible type of support we could be facing in this cycle of bitcoin
BLX trade ideas
daylight savings in the UK used to be bullish......now its a bearish turn.
we have bitcoin at resistance and the clocks have changed in the UK, usually symbolic of a reversal. be cautious here guys
daylight SAVINGS ;-)
BTC is a possible outcome!!!Why do I think so?
According to one version, the growth ended at 68944.62 with the
fifth wave according to Elliott's theory, from the entire movement of Bitcoin since 2010!
The price is lowered to the level of 15495.37, which may be the first wave
Adjusted by 31799.86 (second wave)
And it can give a third wave to the new Global zone 7577.63-3629.76
By making the current Global Zone a zone of Control at the highest TF
According to the second version, the fifth wave ended in December 2017 and was corrected in three waves into a triangle!
Then
From the current control zone we can go to the level of 48191.03
Or give a correction deeper at 22140.02 and from there it will go to the level of 48191.03
And then HIGHER!!!
I will attach a global screen!!!
Bitcoin Analysis With Market Insights And DiscussionBitcoin Analysis With Market Insights And Discussion
Bitcoin’s MOST IMPORTANT PATTERN for Trading in 2023-2024Key Findings
- The best time to buy Bitcoin has historically been prior to the Bitcoin halving.
- There has been a Bitcoin bottom and a second chance buy opportunity in each Bitcoin cycle.
- In the 2016 Bitcoin cycle, Bitcoin received widespread global adoption that led to the first bear market rally, market manipulation by the US Federal Reserve, and the development of a time cycle.
Since price is so heavily manipulated, investors turn to the second best variable that they have to work with, which is time. We start to notice an interesting time cycle:
(1) 74+ week bull run
- In 2016 there was a 74-week bull run where the parabolic curve broke 74 weeks after the BTC halving date.
- In 2020, the Federal Reserve was heavily manipulating the markets by turning on their money printers.
- 50% of the global US dollar supply was printed since the COVID crash and BTC’s parabolic curve broke 45 weeks in.
- However, smart investors know that the past bull run lasted 74 weeks and so much more US dollars are in circulation so the bull run shouldn’t run out of steam yet.
- As a result, BTC formed a double peak for the first time with so much money being printed and heavily manipulating the markets upward.
- This rally lasted 78 weeks with an attempted selloff at week 75 and 3 weeks of bullishness afterwards (forming a bull trap for those who believed in the Bitcoin to $100k narrative).
- It is important to point out that this 2020 cycle bull run lasted just a few weeks longer than the previous 74-week cycle with an attempt to selloff just 1 week after the previous 74-week bull run cycle.
The US federal government also manipulated Bitcoin’s price on the way down through contractionary fiscal policies.
(2) 51-week market correction
- In 2016 and 2020, there was a 51-week correction from the peak of the Bitcoin bull run rally to the Bitcoin bottom in the bear market.
(3) 9 weeks of bottoming out near the Bitcoin bottom
- In 2016 and 2020, Bitcoin took exactly 9 weeks to bottom out near the Bitcoin bottom before taking off during the bear market rally.
(4) 36-week bear market rally
- In 2016, Bitcoin had its first Bitcoin bear market rally that lasted exactly 36 weeks before Bitcoin started declining.
- In the current 2020 cycle Bitcoin had a 36-week bear market rally that just ended on the week of July 17, 2023.
- Near the end of both bear market rallies there were several weeks of sideways price movement near the resistance level before Bitcoin finally dropped.
What is next?
(5) Sideways and slightly bearish price action in the accumulation range
- In the Bitcoin webinar, published in July of 2023, I gave my prediction that Bitcoin will move sideways with slightly bearish price action within the accumulation range between $22k and $31.8k.
- This prediction has been accurate so far with sideways and slightly bearish price action.
- I see two potential trade opportunities on the horizon with a BTC long opportunity around $22-23k if there is excessive selloff.
(6) Second chance buy opportunity 9 weeks before the BTC halving date.
- In the 2016 cycle there was a second chance buy opportunity 9 weeks before the Bitcoin halving date.
- I’m anticipating that the time cycle continues with a second chance buy opportunity between $19.2k and $22k just 9 weeks before the Apr. 2024 BTC halving date with an estimated date of February 19, 2024.
- In the Bitcoin webinar I made two errors that resulted in the wrong date (I placed the BTC halving date on Apr. 1 instead of Apr. 26 and I incorrectly counted 10 weeks instead of 9 weeks before the BTC halving date. February 19, 2024 is the correct target date.
(7) Market Crash Strategy:
I discuss my strategy for trading the market crash in the Looming Market Crash webinar.
BTCUSD Logarithmic Growth Trend: 155k Max By Mid 2025 Hello all!
It has been awhile since i posted, for good reason! It has been a very boring time within the market (as expected).
We are currently in this transition phase between bear to bull market, its the time where everyone walks away filled with fear (bottom of cycle)
Save this chart... You'll never look at a "BTC" rainbow chart again. This either works or it doesn't.
BTC has followed very distinct cycles since its inception
These cycles have been dictated by each halving (as shown)
When looked at on a logarithmic chart, two indisputable lines can be drawn (tops and bottoms), there are no other ways to draw these lines and each top and bottom has perfectly touched them
This creates a logarithmic curved growth area where BTCs priced has always stayed between
Using this model, BTC should top out around 155k in mid 2025 & in the bear market that follows, it shouldn't break below 70k.
We will continue to reference this going forward but main takeaway, the macro picture is still perfectly in tact and BTC is moving as it should, with room to move down to 20k
This is the time to build and GET READY for what's to come
Don't lose sight, the green grass looks to be right around the corner!
Please comment and like!
Sorcery crossfire BLXThis idea is inspired by filbfilb's idea "What is this Sorcery?" (to filbfilb, I hope you don't mind me using it) I thought it would be fun to see if there was some way to cross reference with time, like everyone says, "when moon?" If you take the fib time zone from the low of cycle to the halving date the 2 lines up on cycle top, (its actually just slightly past) This chart was originally done on a daily to get the halving dates right and then switched to monthly, so yes those dates are a bit off, no need to comment on that. Anyway, what comes up in the crosshairs is $200k+ BTC in the 4th quarter of 2021.
Why 2024 Could Spell Bullish Success for the Crypto Market?
The roller-coaster ride of the crypto market never fails to pique the curiosity of traders and enthusiasts alike. As Bitcoin, the luminary of cryptocurrencies, continues to chart its course, the prospect of a bullish market in 2024 has sparked widespread anticipation. This article delves deep into the fascinating world of Bitcoin's halving event and its profound impact on market dynamics. So, buckle up and join us as we uncover the factors propelling Bitcoin's potential surge and the implications for you as a trader.
The Significance of Halving
Picture a recurring event, happening roughly every four years, that halves the reward for Bitcoin miners and slows down the supply of new Bitcoins. This event, known as halving, is a cornerstone of the Bitcoin ecosystem, designed to maintain scarcity and keep inflation in check. The past halvings in 2012 and 2016 catapulted Bitcoin to new all-time highs. So, it's no surprise that the forthcoming halving in 2024 is expected to set the stage for a similar spectacle.
Market Dynamics and Bullish Predictions
The world of crypto trading is a game of anticipation, with traders keeping a close eye on market dynamics to predict future price movements. Amidst a sea of perspectives, many industry insiders, including Huf, the founder of Pear Protocol, see a bright future for Bitcoin in the first quarter of 2024. Huf's bullish sentiment is fueled by the expected onset of the next bull market during this period, underpinned by positive narratives and conducive market conditions.
*Bitcoin Dominance: Bitcoin Dominance means how much the ratio is in the total crypto market cap.
Bitcoin and Market Cap: A Direct Correlation
The value of Bitcoin, the leading cryptocurrency, plays a critical role in establishing the overall temperament of the cryptocurrency market. The market cap of Bitcoin, a value obtained by multiplying the current Bitcoin price by the total number of Bitcoins in circulation, increases as Bitcoin's price surges. This results in a higher valuation of the entire cryptocurrency market. Thus, Bitcoin's market cap serves as a yardstick for other cryptocurrencies, with their prices often moving in the same direction as Bitcoin's.
The Ripple Effect on the Cryptocurrency Market
Bitcoin's correlation with the market cap deeply impacts the cryptocurrency market. A bullish trend in Bitcoin, leading to an increased market cap, fosters positive sentiment and boosts investor confidence in the overall market. This confidence translates into increased buying activity and heightened demand for other cryptocurrencies, propelling their prices. Additionally, Bitcoin's rising market cap draws new investors and institutions to the crypto arena, viewing it as a lucrative opportunity. This capital influx further intensifies the bullish market sentiment, escalating the prices of other cryptocurrencies.
Driving a Bullish Cryptocurrency Market
The correlation between Bitcoin and the market cap can trigger a bullish market within the cryptocurrency sector due to a combination of factors.
Firstly , Bitcoin's dominance and influence in the market render it a significant indicator of overall market trends. An upswing in Bitcoin's performance injects confidence into the market, enticing more investors and catalyzing price hikes across the board.
Secondly , the increased Bitcoin market cap creates a perception of the cryptocurrency market as a viable and profitable investment channel, sparking demand and price appreciation for other cryptocurrencies.
Lastly , the positive market sentiment borne from Bitcoin's bullish trend generates a self-reinforcing cycle. In this cycle, investor optimism and FOMO (Fear of Missing Out) stimulate further price escalations, culminating in a bullish market for the entire cryptocurrency ecosystem.
Narratives and Media Influence
Storytelling plays a powerful role in shaping market sentiment and price fluctuations in the crypto sphere. The narrative of Bitcoin as a potent disruptor of traditional financial systems has steadily gained ground. The green light for the first spot Bitcoin exchange-traded fund (ETF) in the United States in 2024, as highlighted in the Cointelegraph's Market Talks episode, further reinforces this positive sentiment. Such milestones have the potential to create waves, drawing in institutional investors and boosting demand.
External Factors and Potential Risks
However, it's not all smooth sailing. Beyond the halving event and favorable narratives, other elements can sway Bitcoin's market trajectory. Geopolitical tensions and global economic conditions can inject volatility and uncertainty into the mix. As a trader, it's vital to take these factors into account and diversify your portfolio to cushion against potential shocks.
Preparing for the Bull Market
With the potential bull market of 2024 around the corner, it's time for crypto traders to gear up. Adopting careful strategies to amplify gains and curb risks is the order of the day. Comprehensive market research, staying on top of industry news, and maintaining a disciplined approach are your keys to success. Moreover, spreading your investments across different cryptocurrencies and setting realistic profit targets can help you navigate the market's inherent volatility.
The tantalizing prospect of a bullish Bitcoin market in 2024 presents a golden opportunity for crypto traders. The forthcoming halving event, combined with positive narratives and potential institutional adoption, lays the groundwork for potential price appreciation. But remember, staying alert to external factors and market risks is just as important. By staying informed, adopting robust trading strategies, and taking a long-term view, you can position yourself to capitalize on the expected bull market in 2024.
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BTC Long term scribbleIt's a scribble, not much to explain. But apparently I have to give a longer description so here you go.
Is Bitcoin stabilizing or next cycle will be differentLooking at BTC history we can see that every cycle we reach new all time high but its increasing at decreasing rate.
Means first time BTC increased ~58566% from 2.01$ to 1,177.19$ but next cycle we only did ~11,960% from 163.88$ to 19,764.51$ thats ~4.89x less than previous cycle. Third cycle also got a ~5.72x decline that second cycle, a drop from ~12,060% increase in second cycle to only ~ 2,189.88% increase in third cycle.
If we take average declining rate between cycles and apply it for next cycle we would get ~5.3x decline from last cycle, That would give us a ~494.31% increase from current bottom of 15,495.37 to a new all time high at ~76,595$
This is normal for BTC as the bigger it gets the heaver it should be to move and the harder it is to go higher or lower. In a very optimizing and unlikely scenario BTC can hypothetically do a 2,189.88% increase like previous cycle and that will make new all time high at 339,330$ but thats very very unlikely.
it's really simplejust look at the trendline. get into mining. buy some coin. own the coin and figure out security.
BTC Very BearishBTC has already broken out to the downside of an ascending wedge. An attempt to get back above the 200 MA suffered strong rejection. It’s now sitting at major support. If this support fails (an I expect it will) I expect price to move down to the 0.618 Fib line at around $25,500. A bounce from here would be an excellent opportunity to secure the new bull market. I’ll be looking to get long here if this confirms. If this level fails we are looking at a move down to $18,800 to find the next strong support.
Comparison of Bitcoin's Four Bull MarketsComparing the past ten years, there have been three bull market rises. The focus is on the relatively large V-shaped bottom trend. This effect can only be seen through the vertical screen. It is still in the stage of upward breakthrough from the bottom and is still in the early stage of the bull market. It is far away from the previous high and The new high is still far away. Every bull market will rise from the bottom in a V shape, and will eventually break through the previous high to create a new high.
Bear entrance not ALLOWEDHere is the update of previous analysis of BTC
In my opinion we will see the 24200$ with 5% tolerance of the mentioned area
Besides , it will be the bottom of BTC for this year: 2023
And i STRONGLY believe that we wiil pass the 32000 resistance area
And WILL REACH the ATH
And then the new ATH 72000 to 82000 for first time till 2025/june.
have fun .love yall
Idea of BTC These are some projections for the near-future price action of BTC - Always changing but maintaining this range.
BTC Bullish - HTF Ascending ChannelCRYPTOCAP:BTC
IMO, most likely scenario for #BTC
Am not seeing this discussed by anyone I follow, but we are in a HTF (5+ years) Ascending Channel.
Target ~$250k in 2024-2025.
In the end, it will all look so obvious.
Don't get distracted by the LTF's.
Eyes on the Prize.
#Bitcoin
Check out bitcoin's price history, it loves bouncing in HTF ascending channels. One that particularly comes to mind is the 2014-2017 channel (when it broke out to the upside en route to $20k).
Bitcoin is a fascinating price chart, will never see anything like it in my lifetime. Just sit back and enjoy the show.
-@CryptoCurb
Bitcoin Grand Supercycle - 50 EMAIn my last post I mistakenly referred tot he monthly 50 EMA as the monthly 200 EMA and i needed to clarify that, my apologies, here is a cleaner version of the last chart with my indicator stack
BITCOIN GRAND SUPERCYCLE- FULL INDICATOR STACKOn this form of the chart, you can see how we have a rising wedge that has the potential to bring us as low as 14k. We tested the inverse .618 golden pocket of the entire elliot wave standard cycle which was just completed at the golden pocket, which is also the golden pocket of the GRAND SUPERCYCLE as well as an inverse head and shoulders from the current bear market bottom AND the monthly 200 EMA. Any lower here, and it is likely sayonara, because that makes this rising wedge NOT a leading diagonal, becoming an ending diagonal, and it means the current supercycle could technically still be corrective. If that were the case, we have the potential to still see some very bearish targets. If 19,750k was never lost, however, The Grand Supercycle wave 1 and 2 remains valid, just that wave 2 may retrace a lot deeper than we expect. This is easily the sketchiest i have seen these markets since I began watching them. Be careful out there, my friends. Mad love and respect. May all the bags PAMP. Even if they're shorts ;)
BITCOIN GRAND SUPERCYCLE - ELLIOT WAVE THEORY PERSPECTIVE - PT 3And here, on the daily, we can see tradingview's automatic chart patterns are speculating the potential for a wave 5 here from the inverse .618 of this entire current Standard Cycle, which is wave 1 of a new supercycle, and potentially the end of wave 2, beginning of the Grand Supercycle Wave 3.
BITCOIN GRAND SUPERCYCLE - ELLIOT WAVE THEORY PERPSECTIVE - PT2Here is a closer look at a smaller timeframe, showing the division of the supercycle, and the standard cycles within them. NOTE the 200 and 50 EMAs, as well as the inverse HS neckline around 24,8
BITCOIN GRAND SUPERCYCLE - ELLIOT WAVE THEORY PERSPECTIVE- PT. IA grand supercycle can be conceptualized as the general lifetime of an asset or index. Elliot wave theory depicts that markets move in motive and corrective waves, fractal in nature and related to one another through fibonacci retracement levelss. If Elliot Wave theory is to be believed here, We have just tested THE GRAND SUPERCYCLE GOLDEN POCKET. This could easily be the most imporant weeks and months for all of cryptocurrency. We have confirmed now, a standard cycle (three degrees below the Grand Supercycle) complete at the retest of the golden pocket, with confirmed complete abc correction. From here, it is entirely possible that we are entering wave 2 of a supercycle, which also means we have completed wave 2 of the grand supercycle.
If that is validated by a wave 5 standard cycle top here of 40k, we can expect a new bull market to have just begun. this means that a supercycle wave 1 has just begun, and potentially means the grand supercycle has just entered wave 3, which is known throughout history to be the strongest impulse of an asset's lifetime. Its getting spicy out here!!!!!
