BTC - if history rhymes

Updated

Will 40k area hold? Will we see a lot of volume soon? I think so but of course let's see. It's BTC after all.

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Keep in mind the path I have laid out can change until it breaks out of the pattern...the point is that it will go up in the upcoming days or weeks.

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This is pure speculation but maybe something like this...let's see

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Just and idea but something to consider ...

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Drop incoming IMO ...let's see.

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It could drop even further...something to watch for. It may drop a little each day until the 8th (Friday - US) or will it drop fast. Who knows really. The market has been going up on the weekends lately...do you notice that? So perhaps we start our ascent (slow or fast) this weekend and it's a good long entry?

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It could be a few days until the drop based on bitcoins current pattern.

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Patience is key for the next two weeks IMO. I probably won't be updating unless something dramatic changes. Good luck

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I'll leave you with a few ideas in the meanwhile ...

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I'm leaning towards a bigger drop initially and the blue route...how does this pair with your analysis?

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Lastly, it may be an even bigger drop to complete the diamond pattern. Let's see

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wow ...very interesting. I think down to 48k and then I'll evaluate more at that point. More up would cause me to change my analysis to a bullish viewpoint. Good luck to you all.

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Maybe a spike up to 58k or another 7% up. I'm not really sure to be honest. If it does however there will be a pullback to just north of 49k IMO so close a 15% drop. This would set things in motion for another rise up to 60k and then what? Will BTC keep rising or will it get rejected and head all the way back down to the 41k area? We will find out. Good luck to you all.

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I am long on BTC now...will there be a pullback? Of course there will be but when? The 2 day and 5 day look very bullish. It seems to me we need a pullback to set things up but maybe not...probably though IMO. Let's see

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My analysis leads to a sharp pullback upcoming...what about yours? BTC may keep on going up? I'm leery

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Based on past price action my analysis leads me to one of three paths. I have two pullback paths. The blue path take us to the 46k area in approx. 7 days or the green path takes us to the 43k area in 14 days. If BTC keeps going up it will likely get up to around the 65k area and then it will need to take a breather and pullback to about the 51k area before resuming its uptrend IMO. What you do you think? Does it align with you analysis? This is very interesting times for BTC. Good luck.

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I added another path (cyan color) that leads BTC up north of 72k for a super bullish idea. I am on the fence at the moment as to what direction it will go but I'll watch the options I have drawn out and see if one sticks :)

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If history repeats itself (my observation) then BTC comes downs to about 54.8k and then takes off upward. Let's see

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Maybe down to 53k before up?

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Here is my current thought...down about 6.9% to the 53.5k area before blast off...let's see. This is based on past price action

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BTC is making this run up on declining volume. I still think a pullback and a sharp one but we will see. Good luck

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It may be about discount time for ALTS! I don't know what your risk tolerance is but I think its prime time to buy starting tomorrow likely (we will see). I'm counting on a hard 12% pullback to sub 53k. It lines up with all my analysis on my other coins. By the way I only chart BTC to get in on other coins because BTC is the king. I don't know if I've made that clear or not. There are going to be some amazing values tomorrow I predict. Of course I could be wrong and BTC could take off a keep on going. That actually is a real possibility so we will have to see and if that does happen as it will delay the discounts but that time will come if so.

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I keep playing around with the path but I'll stop on this one. Pair with your analysis

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There BTC goes..maybe this now?

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might not have to wait for the drop to buy ALTS ..keep a close watch. BTC could rise slowly from here. Let's see

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another idea and I will stop here.

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yet another idea...can't help but share. Good luck

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I keep thinking a falling wedge is coming. Perhaps I'm wrong but here is my idea

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Lots of movement ...declining volume on the 4hr before today's spike. hmm

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I think BTC has a little more left in the tank but we shall see. The drop is coming IMO

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My current opinion ...let's see

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Sorry for the late update. Life was too busy...I hope your analysis led you forward as BTC is on the rise. Here is my current thought. Let's see

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Here is a zoomed in view of what I think will be a 2 day rise for BTC and then a slow draw down and then ALT season begins? I think so but we shall see

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I will add that if you are good at playing bounces, now is a good time as well...

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Here is another estimate on path. Let's see what BTC gives us

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BTC on the 90 min and I updated the drop to start on Oct 28th or 3 days from now so some time for some ALTS to move up in the short term but back down during the draw down.Let's see...good luck

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ok BTC

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this is making more sense to me ...still playing around with it

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tricky bitcoin...your guess is as good as mine at this point. I'll sit back on this idea but it looks like it could come down in a bull flag formation like shown above as well

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A thought...

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which path? I am leaning towards the yellow/orange path but the blue path is plausible since in the past BTC often comes down to hit the 200 day EMA on the 4 hr before moving up but let's see

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I still think the yellow path but BTC seems determined to head to its target at the moment so perhaps the blue path is more probable

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I am trying not to overthink this but here is an idea I will be watching for

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I think it will be a good weekend for ALTS. When the 2nd arrives price will either explode up or kick back down. This is very curious to me. Perhaps I'm being paranoid and BTC will continue its rise. Let's see

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Looks like it may break out but then again it may break down...let's see

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Well we will probably know what BTC is going to do after we wake up tomorrow ...looking bearish at the moment

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It was not a good week for ALTS but BTC finally broke out of the trend. If 63.7k can be broken I think the next stop will be in the 81.5k range. If not then I would expect some consolidation for a couple of weeks before a strong move up. Either way I can't imagine how it wouldn't be good for ALTS. Many of them are coiled back and ready to go.

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The bigger picture IMO ...

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This short term movement would line up with my other ALT analysis...BTC pops up and then drops down fairly quickly before upward continuation. Let's see

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Tricky BTC ...which path?

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This is more of a hunch than technical analysis...BTC could take off upward from here but this is an idea I am pondering on

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I think BTC needs to come down and touch the 200 EMA on the 4hr just as it has done in the past. We shall see. It may give the impression of a comeback on market open and then a few hours to a day later drop it hard?

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Inverse head and shoulder? Sure looks it to me. Down target is 59k area and up target is 70k area. Given the timeline I think we hit bottom within a day or two. Let's see

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BTC heading down to target...it will be a good time to buy ALTS at that time IMO

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Is the bottom in? I think it may be but BTC is tricky. Good time to invest in an ALT IMO. Take care

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Will BTC go up from here? I think it could but BTC has been very tricky lately. It does not want anyone to know when it is going to take off and I believe there will be some good volume when it does decide to move upward. Did the bottom of the right shoulder hit? I think it may have but in an interesting fashion. Such is BTC. It's almost like "they" signaled the bottom with that arbitrary huge drop to let folks know to get in. These things do not happen on accident folks. We are playing a game with the super rich (investment firms). Good luck

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Here is my current take on BTC in the next week or so. I think we go up to a little below the 63k area and then BTC decides if it wants to keep going up or drop back down to the low 55k area. I am undecided at the moment. Either way I think the target is near 72k. This is where is gets really interesting to me. Does BTC head down from this price over the following weeks/months until its ready to go up again or does it decide to keep going up preparing for a blow off top? Well the blow off top scenario is what everyone wants to happen but of course BTC never does what everyone wants so something to keep in mind :) Take care and shave gains when you get them

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It sure is looking like this unless 56k can hold...let's see as usual

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Can BTC get above resistance? If it does a major pump is coming IMO...let's see as usual. BTC is always keeping us on our toes.

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Well 52.7k area is still my estimate for down since it couldn't break 60k. There will be bounces and we can play them but how far down will BTC really go? I am starting to get very curious of a low number...good luck

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I'll leave you with an idea at least :)

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elliott77

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