BTCUSD Bullish countThis count is based on thinking that we've bottomed out already ( which I think we haven't coz of time relationship with EW). But there's one case which can make this count pretty much valid and probable that's if we get rejected from 52-53K region and then hold around golden pocket zone of last impulse from July (marked on chart) and then get range bound in between these 2 levels till end of year and then taking off for wave 5 towards 130K with initial Target at 85-90K. And also the most important thing for this count to become validated is holding 52.5K region as a support when we get above it and reject from around 58K region ( most likely we'll see Rejection from that zone coz that has huge amount resistance and supply zones).
Btccycle
BTC ANALYSISComparing BTC bull run of 2013-2017-2021..
In every bull run BTC after making a top BTC is settling below 0.78 Fibonacci level, at the same time RSI also gets accumulated, so there's a good chance that BTC may follow the same!!
Question is how do we know its a top ?
- currently if may month candle closes bearish, then evening star formation will be validated , hence beginning of downtrend , after that it may follow the same path as it followed earlier after every bull cycle!!
After BTC tests its lower trend line i.e. support zone , then it'll start a parabolic recovery and will break its ATH with great liquidity, like it did after every bull run!!
Refer closely to the chart, see Fibonacci level, RSI accumulation and then a great parabolic recovery!!
Bitcoin Life Cycle -> $ 2.00 to $ 20,000; now heading to $ 200Hi all
Hope you don't hate me, after reading my conclusion in this post.
I would like to bring a kind CAUTION to the users across the world with my technical analysis.
I wish this wouldn't happen. But I can't deny the facts that I see in the charts.
What-If Analysis:
What-If Bitcoin falls to $ 200 ??
Do the chart tell us a complete different story that no-one cares??
Answer: (My Personal Forecast)
Probably, Yes.
Target Price is $ 200.
Target Period is Q1 of 2021.
Refer the chart that is used to predict this price action.
Invalidate Scenario:
Price will break the Red Line bullish.
Further Confirmations:
Price shouldn't go above 14k.
Yellow line should be broken.
Green Spiral will hold as SUPPORT.
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~RPS~