Has Bitcoin reached a (local) Top? (Circular Geometry)
Today I remembered that the first study I published on Trading View was on February 13th. This was a simple study after the big run/up to the $1249 high in the beginning of January. Through the simple use of vertical extension lines and fibs I came to a maximum extension of $1484 and on 05/05 price reached $1480. I was only $4 off while being 3 months in advance with such a simple technique. (see link below for chart)
On May 3rd I made a study(see link below) based on the question if it wasn´t time for a Retrace 2 Reload to the 50% line or halfway the last rally. Price extended until the 2.618 Fib Arc and a simple ABCD harmonic pattern fitted perfectly within the Arc, but Bitcoin was not ready yet and after a small correction broke out and made a last $160 move before a tiny correction.(on BitStamp).
On the Okcoin weekly futures chart(BTCUSD1W) this last breakout was smaller about a $100 and price was lower and went to my Feb. 13th projection of $1480. This is because the Chinese markets are of little meaning and this is seen in volume, liquidity and volatility which these markets are completely devoid off.
When I reviewed that simple harmonic study from Feb. 13th and connected it to the last rally Low, high through this simple ABCD harmonic pattern from my last study(see link below), the (Circular Geometry) in the Price/time continuum revealed itself. I drew 2 Fib arcs. centered them on the High & Low in the middle of the rally. The circles intersected perfectly onto the newly formed top on which I also drew a Fib Arc which connected and intersected with both of the centres of the other 2 arcs. A perfect (Circular Geometric) pattern based on the Fib arcs appeared. I see this pattern as the Loom of the Price/Time continuum on which the market weaves itself over time. Weaving its patterns for us to discover and project probability. As final confirmation for the possibility or probability that this is a (local) Top I used 2 Gann Angles which exactly come together at the centre point where the Fib Arcs and the ABCD Harmonic all intersect.
Now does this mean Bitcoin reached another (local) top and will hit have a bearish trend reversal? or will we consolidate sigh.dways for some time to coil up and then make a Parabolic Moon Jump on 07/07?
Do your own research and draw your own conclusions, I will not do your job for you. I have used my own technique /Circular Geometry) and it all fits perfectly.
Perfection is the I of the creator.
Injoy
Om Sri Satoshi Ji Namah
OM Sri Satoshi Mahadev! Jai!
OM
On May 3rd I made a study(see link below) based on the question if it wasn´t time for a Retrace 2 Reload to the 50% line or halfway the last rally. Price extended until the 2.618 Fib Arc and a simple ABCD harmonic pattern fitted perfectly within the Arc, but Bitcoin was not ready yet and after a small correction broke out and made a last $160 move before a tiny correction.(on BitStamp).
On the Okcoin weekly futures chart(BTCUSD1W) this last breakout was smaller about a $100 and price was lower and went to my Feb. 13th projection of $1480. This is because the Chinese markets are of little meaning and this is seen in volume, liquidity and volatility which these markets are completely devoid off.
When I reviewed that simple harmonic study from Feb. 13th and connected it to the last rally Low, high through this simple ABCD harmonic pattern from my last study(see link below), the (Circular Geometry) in the Price/time continuum revealed itself. I drew 2 Fib arcs. centered them on the High & Low in the middle of the rally. The circles intersected perfectly onto the newly formed top on which I also drew a Fib Arc which connected and intersected with both of the centres of the other 2 arcs. A perfect (Circular Geometric) pattern based on the Fib arcs appeared. I see this pattern as the Loom of the Price/Time continuum on which the market weaves itself over time. Weaving its patterns for us to discover and project probability. As final confirmation for the possibility or probability that this is a (local) Top I used 2 Gann Angles which exactly come together at the centre point where the Fib Arcs and the ABCD Harmonic all intersect.
Now does this mean Bitcoin reached another (local) top and will hit have a bearish trend reversal? or will we consolidate sigh.dways for some time to coil up and then make a Parabolic Moon Jump on 07/07?
Do your own research and draw your own conclusions, I will not do your job for you. I have used my own technique /Circular Geometry) and it all fits perfectly.
Perfection is the I of the creator.
Injoy
Om Sri Satoshi Ji Namah
OM Sri Satoshi Mahadev! Jai!
OM
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