DelusionalRams8

DelusionalRams8

See chart present day chart in comments to compare the two. How are they different? How are they the same?

DelusionalRams8

Please view my previous idea to compare the two charts. View BTC weekly up to November 2021.

DelusionalRams8

Please view NASDAQ chart in the comments and compare the two. How are they different? How are they the same? This leads me to believe a very strong sell off may be coming soon. God bless you!

DelusionalRams8

I am currently positioned short from the 67.5k level. BTC currently sits at critical resistance. It is the same resistance that rejected the price in July 2019, and it is the same resistance that rejected the price in April of 2016. The resistance is the 350 moving average in the CT Reverse Pi cycle top indicator. Therefore, if today confirms the closing local...

DelusionalRams8

5219 is the 2.618 level based on the 2008-09 market crash. I would expect major volatility and a probable correction coming soon at this level. God bless us all!

DelusionalRams8

Some people ask me how I'm able to take on a loss and continue trading. Please allow me to share a discussion I recently had here on the forum. A commenter recently mentioned the term supercycle with a high degree of certainty that it will play out. This was my response, "Dan Held began touting the supercycle theory in April 2021 when the market was beginning...

DelusionalRams8

Wish me luck 🤞 This target is based on the 350 moving average from the CT Reverse Pi cycle top indicator. Short target will include the 47k-48k level, depending on weekly close Fibonacci levels. I'm expecting a sharp correction before the halving.

DelusionalRams8

Just kidding. While it is true, I lost my last swing trade, it doesn't mean I can't still trade. I'm still in the game, even if I have to day trade to make up for my losses. I have day traded successfully in the past, so I don't really want to hear it. I understand it is a different beast. The only reason I have not been day trading lately is because I have...

DelusionalRams8

The price is continuing to trade on par with my prior analysis of a descending triangle preparing for a break down. This is also paired the confirmation of the rejection of the upper 52k /lower 53k level. Based on the highest daily close of last week, my Fibonacci is placed and I remain in my short trade with a final target of 31.6k. With that being said, a...

DelusionalRams8

Please take a good hard look. I don't normally trade patterns, but the hit rate on these types of triangles are high in Bitcoin. Have a blessed day.

DelusionalRams8

Local high is confirmed. I'm expecting a soul crushing drop off to 31.7k. This level is based on the Fibonacci recent daily local high and the 38k low. Interestingly enough, 31.7k is perfectly confluent with the 31k top of 2023. Go ahead and leave your comments about how bitcoin is going up forever because of institutional buying yada yada...

DelusionalRams8

I find it interesting that my target 1.618 Fibonacci level is now perfectly confluent with the 0.5 Fibonacci level on the weekly time-frame. This level falls exactly at 32.5k. That would be my level to take short profit if it goes there. BTW, I raised my short stoploss to 52k. I'm still not convinced the low is in. Too many indicators are telling me a...

DelusionalRams8

33.2k will be my target for my current short trade that I have been sitting under in since 43k. 🐳 This target is based on the Fibonacci extension from the 38k low to the current daily close. God bless

DelusionalRams8

Bitcoin has succeeded in making a daily close above 47k. But I am not fooled. I remain in my short position (it's underwater from 43k). My stop-loss is at 49k. Therefore, I wait for that to get hit before I think about making a long play. My target for taking short profit will be 33k at the 1.618 Fibonacci level as shown in the chart. I hope this helps someone....

DelusionalRams8

I can't help but to notice how eerily similar this price action is to the top of the 2021 bull market. I plan to open a small short upon the retest of the 0.618 fibonacci level. My short could trigger tomorrow or later this week. My short target would be the 35k area. I need a local top at the 0.618 to be confirmed before I place my take profit. My stop-loss...

DelusionalRams8

As previously stated in my prior analysis, when the price was at 38k, I was waiting for the 43k level to take profit on my long. Therefore, my plan is to wait for the daily high to be in for me to draw my next fibonacci level. 47k is the critical level I will be watching to possibly take a short play. If 47k is not reached, I wait for the high to be in on the...

DelusionalRams8

Previously, I have stated that 38k should hold as support. However, if there is a move below 38k, I would not expect it to last long. I would expect it to get bought up pretty quickly. So, what level would I be looking to long if 38k breaks down? The 1.8618 fibbonacci level sits at about 35k, therefore that is the level I would look to go long. Currently, I...

DelusionalRams8

Here is a chart map of expected price action over the next few weeks. I'm expecting 38k to be the low with sideways chop leading up into the Bitcoin Halving. This map is based on Fibbonacci levels and some repeated price patterns from the 2019 bear market. I hope this helps someone and God bless you all! Handy God bless you all