SherpaBTC

SherpaBTC

Right now we are in an ascending triangle pattern on the daily time chart and the breakout target on the upside would be 40,000 USD for Bitcoin. Now as for the timing, using trend based time fib we can see that there is a potential breakout on the 10th of july. It is also in confluence with the fib circle when drawn from local top swing high and local swing low.

SherpaBTC Updated 

In this Bitcoin analysis, I used the Bitcoin Logarithmic Growth Chart to compare similarity between 2013 cycle and 2021 cycle. In both cycle, in the middle of bull run, BTC has touched the 76.8 % fib resistance and retraced back to 38.2 % level. In 2013, after bouncing back from the 38.2% fib level, BTC had a major bull run upto $1200. For the timing of when the...

SherpaBTC

If this WXY ELliot wave count plays out then we will see BTC rise towards 43k level and then continue towards a potential drop to 21k level. I really hope this wave count is invalidated for everyones sake but man Elliot wave, she is as cold as they come. Not financial advice. Hasta

SherpaBTC

Looking at this Bitcoin Logarithmic Growth Curve Chart, the price of Bitcoin will reach $1 million by 2026. This price target is also in confluence with the Stock-to-flow model of Bitcoin reaching $1 million by 2026. The 2024 Halving will cut supply of Bitcoin from 6.25 to 3.125 Bitcoin per block and this supply shock will push Bitcoin to new price discovery. By...

SherpaBTC

In 2013 bull cycle we had 2 cycle tops. The first top was around the first week of April 2013 and then Bitcoin dipped by 60% , coincidentally this bull cycle as well we had our "First top" of this cycle on the second week of April and now we are 60% lower than the market cycle top. This white bar pattern shows that this current cycle is emulating the 2013 bull...

SherpaBTC

Drawing a bar pattern of month of April and comparing it to the recent crash of MAY 19th 2021, it looks scarily similar in both months. So if we are to repeat the trend then ADA will go below $1 level and then bounce onto $1.90 later. P.S not a financial advice (Buy when there is blood on the road. Even if the blood is yours)

SherpaBTC

Currently we are below the both the 21 week EMA support and 20 week SMA support as well. Many are calling for the bear cycle to start . However, pulling the chart pattern of 2013, in this bull cycle we had 2 tops and had a similar dip like the one we had on May 19 ,2021 in the middle of 2013 bull cycle as well. So hopefully all the news is just FUD and we go onto...

SherpaBTC

Looking at the chart progression since 2013. In this chart I have charted date and price range since the halving to the top of the bull cycle. In 2013 BTC price rallied upto 12,000% since the halving in 400 days. Like wise in the 2018 bull cycle BTC price rallied upto 3,000% since the halving in around 500 days. In these two cycle the market top decreased by a...