WITSIT

WITSIT

(I also included a link to my post looking at the bearish prediction to counter this idea) First is an image of the Weekly to show the current 5 wave prediction: I personally lean more bearish towards bitcoin for the next year or so but as I explained in my post before it is always a mistake to not look towards both sides and find possibilities and...

WITSIT Updated 

My personal time learning to do TA especially with bitcoin is to try and find multiple outcomes both bearish and bullish. I have seen too many in this space get too deep into a one-sided bias and watch their losses be quite substantial because of it. Mostly that has to do with expecting bitcoin, or any asset for that matter, has to hit a specific target and get...

WITSIT

There looks to be a high possibility that bitcoin is currently in an ABC correction coming down from the current ATH. As shown, A ended at ~59.5k with a 5 wave correction down and now we are an ABC correction (shown in green) for a larger B correction up. I think from here bitcoin will fall back to the 61k region with a bounce to 64k to complete the B wave....

WITSIT Updated 

After breaking the ATH it is evident that this is no longer an ABC correction as it had finished at 28.8k as a likely Wave 4 on the macro. Now a possible ending 5 Wave on the macro or a possible newer Wave 3 is in play. While trying to look for a new target there is a lot of confluence in both the 1W time frame and the 4H time frame that points to the 73k...

WITSIT Updated 

By using parabolic curves and the logarithmic chart I have found something very consistent and interesting with the DOW starting from its inception. ***Note: IF this has been discovered before then all credit to them, this will just be a decent idea to think about now and to bring up given recent events and trend.*** The Great Depression marked the first...

WITSIT

I found this to be an interesting look at the Mayer Multiple indicator and the history of Bitcoin as it relates to trend and cycle changes. I am not sure if someone may have shared this in the past but I thought either way it would be a good time to share now. To provide some guidelines to what is shown here: - The arrows are shown within the chart and the...

WITSIT

I am comparing the re-accumulation zone back in January to now. Both the differences in the pattern and also the differences in the indicators. Volume, MACD (the histogram portion) and RSI currently are showing weakness after showing a bit of strength which is the opposite of what was shown during the accumulation stage in January. A point of interest on the...

WITSIT

Breaking of the "Ice" (the ice was support throughout the distribution) happened the other day with that sharp drop from 43k to 30k. According to the Wyckoff distribution, there is always a rally back to test that break. This is to confirm that the demand is still scarce. I speculate if the price does not break and hold above 42.5k on the daily then the markdown...

WITSIT

COINBASE:BTCUSD Looks to be a Bump and Run Reversal (BARR) bottom pattern already in progress. Most of these tend to be bullish especially in a bull market (duh, but important) which crypto itself currently is in. I speculate a successful double back-test and bounce off of the current trend-line that came down from our ATH. The last bounce off and a clue...