in most markets i honestly don't believe Elliot wave exist. in the case of the DJI it has always seem to have some validly to me. If it does exist then we have just hit our super cycle high and are now headed into the worst pullback since the great depression
i have a confluence of 3 which i believe make it a very likely demand zone for btc. the green line at 7730 is a level btc has interacted with for almost 2 years now, the 8010 level is the 61.8 fib which btc loves to retest and the trend line is a level btc has interacted with since 2015.
heres what i think seems likely over the next few months.
btc looks like it will test the upward sloping trend line in the next week around 8K. as the halving closes in the buy pressure should increase going into april where i expect we will test 10 - 10.5k again after which I expect to see a dump to the upward sloping trend
If you have read my previous articles you may know that i don't subscribe to conventional technical analysis I look at supply and demand. Here is what i think could be a likely scenario to play out. going into the halving i see btc remaining either neutral or slightly bullish. 2 weeks or so before the halving i anticipate a sell off lasting 4 weeks or so after the...
based on Btc fundamentals and current events Im more bullish now than before. The upward sloping trend line from 2015 has proven to be a significant level of support and as long as bitcoin stays above i will base most of my future calculations based on this. Im currently 100 of my liquid asset invested in bitcoin and i will also be looking to move my retirement as...
I don't do TA! My analysis is based on research of where i believe high probability areas of supply and demand which are based on where i see order flow, cost of mining, and what i believe are probable future events. Don't trade based on my Ideas! Do your own research! Don't go all in you will get rekt!
I am setting up a low leverage long play inside the green box...
My ideas are conservative and may disappoint super bulls calling btc 100k. I don't discount this estimate I do my best to quantify what seams fairly realistic based on supply and demand.
Now with that out of the way also don't trade based on my ideas do your own research!
Bitcoin has come into a demand zone that i outlined in green between 6819 and 6317. which...
