shubbs

shubbs Updated 

It is clear that ETH is in the early stage of a new bull market cycle. Minor wave 1 of this new cycle took BTC to over $2142 in April 2023 from its bear market low in June 2022 of $880. Minor wave 2 has lasted for several months and may have ended at $1530 on 9/11/23. I'm expecting the continuation of intermediate wave (3) to continue with minor waves 3, 4,...

shubbs

Bitcoin finished its 19 month intermediate wave (IV) correction 11/21/22 at $15460. Since then it made a minor wave 1 at $31050 4/14/23 and a minor wave 2 that completed at $24750 on 6/15/23. It is now in minor wave 3 which should be very impulsive and maintain its parabolic trajectory for the rest of this year. I recommend all watch Credible Cryptos last 2...

shubbs

BTC still is in a parabolic bull move with the pullback today. It can fall further and still be in a parabolic bull run. The ABC correction from the $15460 to $31050 is healthy for a big minor wave 3 once the C wave is finished.

shubbs Updated 

This is the parabolic 5th wave we all anticipated in 2021 and never came. Why? It was an expanded flat long 19 month 4th wave correction from Apr 2021 to Nov 2022. The $69K top in Nov 2021 was merely a wave (V) B. The first minor wave of the 5th intermediate wave completed 4/14/23 at $31050. This correction since is minor wave 2. Minor wave 3 which should...

shubbs

Bitcoin has been in an ascending triangle formation since the low at about $19500 on March 10th. It has tried to break $28700 since March 19th but has been rejected there 9 times since. The target once the breakout occurs is the depth of the triangle added to the breakout level of $28700. The height of the triangle is $28700 - $19500 = $9200. The price target...

shubbs

This is the monthly gold chart. The top in Sep 2011 was $1920.94. The bottom in Dec 2015 was $1046.54. This is a large cup and handle formation. The cup is from the top to the bottom and back to the top of the cup in July 2020. For the past nearly 3 years, the handle has formed with gold going briefly over $2000 again today. The depth of the cup is top -...

shubbs

After a 12 month drop from $69K on 11/10/21, Bitcoin bottomed at $15460 on 11/21/22 (Coinbase chart). After two months of sideways accumulation, Bitcoin just broke out of its 14 month descending wedge pattern. BTC has done this in prior bear markets; each time it's gone higher than the previous ATH about 2 years later. This time it should occur by the end of...

shubbs

This has been forming since Nov 2022. BTC bottom of cup $15460; top of cup $18100; cup depth $2640. Target since the resistance has been broken is about $20740

shubbs

This is the BLX daily chart. The following are the 14 times in Bitcoin's history that have given buy signals as good opportunities to buy Bitcoin for long term accumulation: 12/21/11 Buy $3.89 6/19/12 Buy $6.49 2/7/13 Buy $22.04 1/28/15 Buy $234.61 5/6/15 Buy $229.86 5/17/15 Buy $236.49 6/18/15 Buy $249.02 1/9/19 Buy $4020.12 12/27/19 Buy ...

shubbs

The final Elliot Waves I am following to project a BTC final bottom to this bear market (Coinbase prices): Aug 15 B Minute 0 $25214.57 Oct 13 Minute i $18131.00 -$7083.57 Nov 5 Minute ii $21478.80 $3357.80 47.4% of Minute i Nov 9 Minute iii $15512.00 -$5966.80 84.2% of Minute i Nov 10 Minute iv $18140.62 $2628.62 44.1% of Minute iii Nov 14 ...

shubbs

There are many metrics that a long term investor should consider in trying to time buying Bitcoin near bear market lows. One indicator is the Pi Cycle bottom indicator. This is the BLX daily chart which goes back to the Jan 2015 and Dec 2018 lows. The 2015 Bitcoin bear market low was Jan 14th at $163.88. The Pi cycle bottom indicator showed that was exactly...

shubbs

This is a monthly chart of the DXY charting its supercycle bear market since the 164.72 top in Feb 1985. The supercycle and lower Elliot waves for the DXY are as follows: (0) Feb 1985 164.72 (a) Sep 1992 78.19 (b) Jul 2001 121.02 a Mar 2008 70.70 Primary 1 Mar 2009 89.62 Primary 2 May 2011 72.70 BTC created in "Satoshi Whitepaper"; BTC...

shubbs Updated 

The reason I can see far into the future on the potential of Bitcoin's price are the bitcoin log growth curves put out by Cole Garner on Trading View several years ago. 95% of the time the Bitcoin price has stayed within the bottom and top curves historically since Bitcoin's inception on the exchanges. I have plotted all intermediate Elliot Waves for the 4...

shubbs Updated 

I'm going to give a few reasons 11/10/21 could not possibly be the top of the bull market which started 12/15/18 at $3128.89. This will be the first: The Fear and Greed Index on alternative.me which was developed during the 2018 bear market. Greed Index at the 6/26/19 wave (1) $13868 top was 92. At the 3/13/20 wave (2) $3858 bottom it was 8. At the 4/14/21 wave...

shubbs

There have been a few times in Bitcoin's history when it has dropped to the 200 wma: week $BLX low 200 wma % of 200 wma 1/19/15 $163.88 $193.48 -15,3 4/20/15 $214.55 $208.92 2.7 6/1/15 $221.22 $215.59 2.6 8/17/15 $198.72 $229.78 -13.5 12/10/18 $3148.33 $3183.30 -1.1 2/4/19 $3354.29 $3321.30 1.0 3/19/20 $3941.21 $5511.12 -28.5 Notes: 1. Only six weeks in...

shubbs

I've seen Optical Artdotcom and even Bob Loukas entertain the notion that Bitcoin is going to retreat 80% in a bear market down to $14000 as a probability to a possibility. I'm sure there are others. However, there is no basis for this in previous cycles. In the 2011-13 bull cycle intermediate wave (1) high was $16.41 in Aug 2012. Intermediate wave (4)...

shubbs

For people who are bored with the market now (and I am one of them), let me remind you that Bitcoin follows Pareto's principle: 80% of its price move is made in the last 20% of the time in the bull cycle. Actually it's about 90% of the price move in the last 20% of the time in the bull cycle. 1st Bull Cycle: 7/18/10 $0.06 beginning of trading on...

shubbs

I recommend you watch Bob Loukas' video posted earlier today on Bitcoin Live before you read my comments and take on what he had to say. Having said that, I have my own thoughts to agree and disagree with what he said. He said he thought since the blowoff top didn't occur in the time frame he had originally projected, meaning the end of 2021, that it is...