s-h-o-c-k

s-h-o-c-k Updated 

We might have another bullrun before we see 5k. That is NOT the end of the bear market, it's a breather. Don't be afraid to buy at these prices and be ready to short again if we hit target. Facts: - W bottom / inverse H&S in the making - breakout of falling wedge. Breakout target of falling wedge will be around 10,000 - 11,000 $. - aligns with timeframe of 2014...

s-h-o-c-k

Sorry for the clickbait title, but now that I've got your attention: We will not go to 0, but I think we might actually see around 9800 before dropping to 5200 and into a boring multi year bear market full of chop . It will be a very slow bleed. I've overlaid the inverted BTC bubble chart from March 2013 - flipping point happened when we failed to break out from...

s-h-o-c-k

Inverted chart. Purple = BTC price action from December 2017. If momentum keeps up, we might see 7900 and higher before resuming downtrend.

s-h-o-c-k

Facts: - ETH already broke up - BTCUSD Shorts are at an all time high / rising wedge pattern -> possible shorts squeeze incoming If we don't form a double top (red line) in chart, we can go as high as 8900.

s-h-o-c-k Updated 

Classic Wyckoff : A) If we manage to keep the momentum and finish the inverted head and shoulder pattern, I'd expect us to rally to around 7500. If we then form a double top, expect retracement to 6000 / 5800. (most likely scenario, in chart) B) If we push through at 7500 and euphoria kicks in, we could go as high as 8000 - 9000. C) If we fall back now, we...

s-h-o-c-k

Dear friends, Is this the end of Bitcoin? No - it's just what markets do when parabolic trend is violated (e.g. "the bubble"): They correct. There are several scenarios and indications that point to the bottom of this correction. Today, I am not going to bore you with flags, Elliott Waves, Fibonaccis, colorful charts with tons of pink diagonal trendlines and...

s-h-o-c-k

Don't freak out! I used Elliott waves, Fibonacci extensions, Gann indicators, Wyckoff market cycles, Jim Hurst cycle analysis, Bollinger bands analysis and substantial historical data and found very strong support at around 0$. Just kidding, of course - that level might not even hold. :) On a more serious note, even if it looks like a W bottom right now, I...

s-h-o-c-k

We have reversal at 7300 and BTC might break up from the falling wedge if it doesn't get rejected at 7700. Possible target: 8500.

s-h-o-c-k

Here's the zone where I am looking to short to and then probably buy in again. Needs capitulation sell-off, which I expect to happen soon as Bitcoin will most likely go down some more (I'm expecting BTC to go down to at least 5200).

s-h-o-c-k

All in chart. 7500 -> 7700 -> 7200 -> 7900

s-h-o-c-k Updated 

Here's a repeating pattern: We produce higher lows, bounce back to around 0.382 fib after a huge dump and then go for the next push down. Right now, there's no indication that it's different this time. Short entry levels to watch: 8300 - 8400 Target level: 5000 - 5200 Not financial advice, do your own research.

s-h-o-c-k Updated 

Great short opportunity at around 8400 - 8500$. Potential drop to 5200 - 6000$.

s-h-o-c-k Updated 

Sorry to revive this older chart, but this trade is still very much active and might give some of you guys ideas what's about to happen. Triangle consolidation very likely to happen and to eventually break down. Notice the severe Bollinger bands squeeze on the daily! Here the description and strategy from the old chart: Short all the way down to 6000 upon...

s-h-o-c-k

In a perfect world, this is what will happen next: You will ignore current price action around 8300. You will also ignore patterns and Elliot waves and whatnot, and you most certainly ignore all social media channels - you just watch the price action unfold and wait calmly to buy in at support of our trading range (7200 - 7700 zone) and then short again at...

s-h-o-c-k Updated 

Make no mistake - we might have just bounced up nicely, but we're still in a heavy downtrend, and we absolutely will have to re-test 6000 at some point. Here's a possible scenario how we could get there: We just established two new important prices: 7500 is now support, 8500 is strong resistance . Expect BTC to move between those levels in the next few days....

s-h-o-c-k Updated 

We might break up from the falling wedge right at the long term log trendline soon. If so, I'd expect us to go back to visit 8500 before finally dropping down to the bear flag target @ 6000.

s-h-o-c-k Updated 

BTC -> bounce from support @ 6000 -> break up from falling wedge -> going down to 5000 region (bear flag target). In red a fractal from Feb 2017.

s-h-o-c-k Updated 

To complement my bullish scenario, I offer you a bearish view: Be aware that LTC might actually break down from the falling wedge, as it already did in February (see fractal), having us revisit the $100 zone . G20 news could be a possible catalyst. Trade carefully! (General bear market advice: Longs are risky. If in doubt, be neutral / sidelined or short the tops.)