Bitcoin Long term Vision and Reversal indication
Updated
One of the oldest and most effective techniques to keep fooling people is to constantly show them dreams of a new world which is so common nowadays, and widely used by Politicians, Illusionists and speculators.
Bitcoin has meteorically increased so high in a very short span of time compared to other class of assets, now its getting unlikely for Bitcoin that it will keep managing its growth like before and sustain for higher levels.
There are lots of huge huge Long term bullish predictions which are based only through some minor chart analysis theories, recent price action, some kind of fundamental hype, or personal bias of so called cryptocurrency experts on twitter, but in the end its nothing more than price speculation.
Above you can see that we've perfectly completed the 10 yrs Elliot Wave cycle, also the corrective B wave formation, now according to Elliot wave theory Wave C will bring us to new lows and the first very likely target is fib236 between 1100-950, for detailed elliot wave projection have a look at my previous analysis
now lets take a look at some other factors...
my custom indicator has caught an strong sell opportunity in weekly chart, just like it did in feb 2018. note that there was no sell signal or my indicator moved to purple zone from red one's during the whole bull market of 2017 where Bitcoin move from $890 all the way towards 20000 level.
here's an another view over Bitcoin's 10 year cycle, through my custom indicator, you can see that my custom indicator is so reliable to identify Bull and Bear markets.
you can see that in 2015 Bitcoin made a double bottom at 200 WMA but it did not in 2018-19, although prices do came back to the support in feb19 but did not test the weekly 200 support, so might be we could get a second opportunity to buy Bitcoin between 4500-5000 where the weekly 200MA will strike again, maybe in q1 2020.
but that doesn't mean we cant break 200 weekly MA, if a support level gets tested 3 times probablity of breaking it in 4th gets higher and higher with each next attempt, and 200 weekly supports do break.
check this S&P500 weekly chart of 1981-2001, where 200 Weekly MA hold the prices in 1982, 1987 and 1990, but broke the major support level in 2001.
Bull market creates dreams and Illusions, whereas bear markets shows truth and reality, there're enough dreams now, its time to open your eyes and see the reality, wake up...
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram, we're going the increase premium fee in the coming days, so hurry up...
thanks you, this is Husain Zabir signing out
Bitcoin has meteorically increased so high in a very short span of time compared to other class of assets, now its getting unlikely for Bitcoin that it will keep managing its growth like before and sustain for higher levels.
There are lots of huge huge Long term bullish predictions which are based only through some minor chart analysis theories, recent price action, some kind of fundamental hype, or personal bias of so called cryptocurrency experts on twitter, but in the end its nothing more than price speculation.
Above you can see that we've perfectly completed the 10 yrs Elliot Wave cycle, also the corrective B wave formation, now according to Elliot wave theory Wave C will bring us to new lows and the first very likely target is fib236 between 1100-950, for detailed elliot wave projection have a look at my previous analysis
now lets take a look at some other factors...
my custom indicator has caught an strong sell opportunity in weekly chart, just like it did in feb 2018. note that there was no sell signal or my indicator moved to purple zone from red one's during the whole bull market of 2017 where Bitcoin move from $890 all the way towards 20000 level.
here's an another view over Bitcoin's 10 year cycle, through my custom indicator, you can see that my custom indicator is so reliable to identify Bull and Bear markets.
you can see that in 2015 Bitcoin made a double bottom at 200 WMA but it did not in 2018-19, although prices do came back to the support in feb19 but did not test the weekly 200 support, so might be we could get a second opportunity to buy Bitcoin between 4500-5000 where the weekly 200MA will strike again, maybe in q1 2020.
but that doesn't mean we cant break 200 weekly MA, if a support level gets tested 3 times probablity of breaking it in 4th gets higher and higher with each next attempt, and 200 weekly supports do break.
check this S&P500 weekly chart of 1981-2001, where 200 Weekly MA hold the prices in 1982, 1987 and 1990, but broke the major support level in 2001.
Bull market creates dreams and Illusions, whereas bear markets shows truth and reality, there're enough dreams now, its time to open your eyes and see the reality, wake up...
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram, we're going the increase premium fee in the coming days, so hurry up...
thanks you, this is Husain Zabir signing out
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just updated my views on short term price movement of bitcoin do check it out and get all the insights for max profits...:)
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just updated and released the 4th part of the trap series which shows more technical data that we are heading towards lower lows, still this idea is valid and as predicted
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Just made the final and very last update long term Elliot wave cycle hope you guys followed this idea
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