Greetings, fellow traders. In this article, we'll be reassessing our annual Elliott Wave counts and going deeper into interpreting Bitcoin's current decade cycle. I'll make sure to segment each part by drawing insights from the previous cycles, also employing the Elliott Wave Theory, and integrating major timeline events to bolster my perspective on Bitcoin's...
Bitcoin price action has literally bored market participants into a gelatinous state of perpetual apathy. That’s about to change. Why? 1) Price action and RSI resistance breakouts. See daily chart below. On the 8hr chart above (using Heikin Ashi candles for cleaner reading): 2) A trend reversal is evident with the first higher low since April 3rd. Green...
On the above weekly chart of Bitcoin price action a signal not seen since March 2017 and previously November 2012 has printed. No one on the social media circles is talking about. You heard it here first, remember that ;-) What is it? Weekly hidden bullish divergence. It is the same signal that allowed us to long the S&P 500 from 3750 and the Nasdaq 100 from...
Since the beginning of May, Bitcoin has embarked on rather bullish looking wave structures, in response to the dive of late April that landed the coin just around the 57 k mark. In Elliott Wave perspective, per the principle by which market structure is built, BTC has clearly completed a five-wave impulse, and has corrected this advance in a three-wave pullback,...
Many have already heard about the Steve's (Crypto Crew University) 5.3 theory. This theory determines that the percentage gains throughout the bitcoin cycles are decreasing by a factor of 5.3, placing a top for bitcoin for this present cycle at roughly 80k. While I tend to agree with Steve's analysis, and actually find him one of the most accurate bitcoin analyst...
Traders, It is ad nauseam that I have been referring to my multi-year support/resistance trend line. But here we are again. Interestingly enough, it is also currently intersecting the top of my bullish descending wedge, making a critical area of confluence to become resistance. As I see it, there are now two paths for Bitcoin. A break to the top side would...
BTC broke out of short term downtrend. Could see it retest previous high
Market sentiment oscillator with a good correlation to the BTC price. Interestingly, previous tops occured once the CMSO is over the euphoria line and falling back afterwards. This happens once in a cycle and correctly indicates cycle tops. The rising above the euphoria line interestingly occured much early in this cycle, although very brief. Let's see if the...
Introduction This is a birds eye view post. We have had the usual stall and consolidation after the halvening and things have started to get lively. Due to all of the tokenomics of bitcoin, with the havlvening, its periodicity, and so on the move is going to be impulsive and sustained. The charts reflect that. Important Indicator considerations A MACD...
As you can see BTC has reclaimed and retested a large level of support. After testing this level 3 times over, it was finally broken, only to fail right after and be reclaimed. After waiting to see how this level would hold it is currently being retested for the fourth time over, providing the perfect opportunity for a long. Several banks have indicated they now...
FOMC announcement is coming in soon and most of the FED aware trading community (not hodlers) think the financial world is on the brink of catastrophic disaster. And who could blame them, that is what the news has been forcefully pushing. But what they don't seem to be shouting from the roof tops is that Congress has already raised the debt ceiling 78 times...
BTC There are many possibilities of what can happen next with Bitcoin. And plenty of detail in the weekend video btw. Here's another one. Demand lines are dangerous in potential bearish phases. And we've seen this one before: Back in August it drifted sideways to the Demand lines and had a big collapse through them. Perhaps will will see something similar...
One Chart 3 cycles //BTC 3 cycle 2013-2024 BTC/USD 1w BTC cycle moves // almost same >Mayer Multiple bands (75MA &50MA) >Bitcoin Power Law Corridor > Realized Price Log Regeression 250 #btc CRYPTOCAP:BTC
Executing a coup, the tyrannical jester Kefka stole the throne of the global deepstate empire that holds humans in poverty and despair. After traversing to the peak of the floating continent, Kefka unleashed his diabolical FOMO... misaligning the delicate positions of the sacred statues of currency. The balance of power has crumbled to dust, and the world...
As always there is a potential for buy-side ideas, but right now with bitcoin i do like the correlation of my weekly-daily waves looking for a correction lower and a key ICT monthly FVG which would be setting it up as an inverse fair value gap, after taking the recent BSL it makes sense to come back into the iFVG, complete corrective waves here and setup another...
Bitcoin will strengthen due to increased expectations for interest rate cuts Examining the trend in the four-hour time frame, Bitcoin has broken the resistance range of the ceiling of the descending channel in the range of 61988-60725 and now seems to be targeting the resistance range of the ceiling of the second descending channel in the range of 71776-70255. .
Bullish as I think there will be a blow off top at 100-115K this cycle. We seem to be in a wave 4 correction pattern. It looks like we have one leg lower to test the trendline of the weekly RSI. My guess is we are going to have a running flat correction where 60K will be tested one more time after we rally to 73K. I am guessing we start breaking ATH again some...
Bitcoin has been developing a Bull Flag pattern since late April. It is making its first attempt at breaking out as we speak. If unsuccessful it could go back towards 64k to retest the diagonal trendline within the descending channel! There is more to unpack here. stay tuned for update!