CryptoGuru888

CryptoGuru888

Bitcoin has had 2 primary bear markets (two years each time), first 2014-2015 and then 2018-2019. We assume this pattern is going to continue but we may be overlooking the fact that Bitcoin's macro role has changed. This is no longer a fringe asset. It may still be perceived as somewhat speculative but it's a trillion-dollar market. What if Bitcoin has...

CryptoGuru888 Updated 

BTCUSD formed a head and shoulders at the third extention (63k). The target for this formation (32k) was reached last week. Since then, BTCUSD has sprung off the first extension from a Wyckoff accumulation pattern, currently in Phase C. Following a retest of 33400, a good surge is expected. To be updated...

CryptoGuru888 Updated 

Death cross has never been a major factor for Bitcoin. There have been multiple occasions when BTCUSD has rallied strongly following a death cross. Being a lagging indicator, it's more useful in legacy markets where there isn't as much volatility. The most recent death cross was in March 2020. BTC surged 100% 2 months later and 1100% a year later. Inverted H&S...

CryptoGuru888 Updated 

Previously shared a potential Cup and handle chart for ETHUSD. The cup and handle pattern was invalidated but a breakout has now occurred from that range ETHBTC falling wedge breakout will be confirmed by daily closing. First breakout target 0.039 BTC ($2300)

CryptoGuru888 Updated 

An unmistakable inverted head and shoulders pattern is developing on daily, which is to be confirmed by a breakout past the neckline at 59000 accompanied by a surge in volume. Target from this breakout roughly corresponds with 1.618 Fibonacci extension level of 67000.

CryptoGuru888 Updated 

As previously charted, Bitcoin corrected to low 40s (43k) and is on its way to $70000 from a C&H breakout on daily which is pending confirmation by close today A test of the Fib Extension at $74000 for resistance is expected from this breakout

CryptoGuru888 Updated 

Dec 2012 - $13 (First halving year) Dec 2013 - $1000 (Four-figure breach) Dec 2016 - $800 (Second halving year) Dec 2017 - $20000 (Five-figure breach) Dec 2020 - $19000? (Third halving year) Dec 2021 - Six-figure breach In late-2016, early 2017, we retraced 61.8% (fib) before building back up throughout 2017 to $10000 for the first time and beyond. You can...

CryptoGuru888 Updated 

This is the max pain scenario. It's not a guarantee but seems like a plausible short-term bearish outlook For now, we bounced off R/S flip at previous extension @ 44800 (That's why it's important to test extensions once breached), closed past 23.6 (46300) on daily + bullish failure swing reversal on 4-hr Demand will inevitably peak at the top of the falling...

CryptoGuru888 Updated 

ETHUSD is on the brink of a textbook Cup and Handle breakout. Once a breakout is confirmed, the first target would be $2350. This potential bullish market sentiment for ETH is confirmed by a bullish divergence on the ETHBTC as well.

CryptoGuru888 Updated 

After being instantly bought up twice at Fib 38.2, BTCUSD has settled into an unmistakable falling wedge and could be breaking upwards soon. Target for this breakout would be $48500. Wedge breakouts are typically violent and confirmed by significant volume surge so keep an eye on volume each time there's a breakout attempt. There has been a breakout rejection...

CryptoGuru888 Updated 

BTCUSD has broken out of the contracting wedge pattern identified in the last idea (linked below) backed by a good surge in volume Given the momentum here, breakout target of $25,300 could be secured in just a few sessions.

CryptoGuru888

After securing the target from the rising wedge breakout (check linked idea), BTCUSD 4 hour chart has now taken the shape of a contracting wedge/symmetrical triangle. While often interpreted as a continuation pattern, like all triangles, a symmetrical triangle is a neutral pattern with a slight continuation bias (bullish in this instance). This could soon break...

CryptoGuru888 Updated 

Last week, Bitcoin broke out of the RSI trendline on daily and, propelled by a bullish failure swing on the 4 hr chart, vaulted beyond 20k to enter uncharted territories. It took a few days for the price to settle down and establish new levels of support and resistance. With the parabola out of the way, the price has now settled into a rising wedge pattern (no...

CryptoGuru888

End of the month is always a tumultuous time in trending markets. Fund managers look to review their positions and take some profits off the table. BTC/USD also had to contend with some FUD this past week regarding regulation in the US. Two successive daily closes reclaiming the 23.6% Fibonacci retracement level indicates that, for the moment, bulls very much...