lol so i noticed some people who analyse charts are pushing their opinion that btc will drop like nasdaq in 1999 lol and will stay at that drop for a very long term. I'm tired of saying to them that nasdaq chart and btc chart have nothing to do with this and that since 1999 many things have changed, but they still start crying and trying to prove that btc is dead. lol this is my pattern as i also searched some "financial bubble chart" on google i found this, this is some kind of "stages-indian-stock-market-bubble-rhishikesh-agashe" shit and stuff.
(I Draw those lines just for understanding where we are going to be compered to that chart) Yes i know my chart looks like done with paint but i don't give a f. cos i just want to show an example to those nasdaq fans, that some "bubble charts" also can be very bullish and that they would stop pushing their "BTC is dead" opinion
We should be somewhere were "bear trap" is. Below is that chart which i found
Its just my opinion, don't take it too serious. This is not financial advice nor a fact that this pattern is going to happen.
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So i placed time fibs on this "new chart" When BTC made lift offs Based on that chart (link) above, It took five (bear trap) candles for bitcoin to lift off, My btc chart is at 1W. it takes five 1W candles till time fib, coincidence? i don't think so. Illuminati confirmed
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By the way if someone is interested, these fibs and that chart are telling that we should start mooning at the beginning-middle of the march (around 12 or something) Don't get me wrong, i'm not stuck on this chart, just lets see if something similar is going to happen. Thank you for your time
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Just got found some info about BTC, just for entertainment purpose (BTC address in pictures is not mine) This is from bitcointalk.org user named: Trolololo He predicted when btc will reach 10k, with we can say 100% accuracy
This is how the 2011 and 2013 (1) bubbles look like in linear price axis:
You can see that this pattern bitcoin is forming it's like his DNA, it repeats every time
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like every time he makes this it becomes 100x stronger
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Here you can read other person predictions, as 100k in such a time may be a little to fast in my opinion, but he does great analysis, he also compared last 2013-2014 bubble correction with the one which is happening right now. Good news for everyone!
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Great news, seems we are recovering faster than thought, and don't repeat nasdaq history. Happy trading everyone!
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Seems like a bearish flag formation
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bearish flag didn't form. We are going to an end of consolidation as my first thoughts was, expecting to see major bullish moves starting from early, mid march
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We should start bull move next week, if no , we will see mid term bear trend
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we didn't lift off till my set deadline so im closing this trade
When Bitcoin was mooning, everyone said that the correction is coming. From about 6000 USD. Now that it is falling, everyone is saying, correction is done :-). The correction is only done when it is done. Only look at what the chart is telling us. It is telling is that we are in a down trend. Until we are not anymore. Below moving average = downtrend. Also, it does not matter if Nasdaq is another chart in another time. How people react to emotion always remain the same. That is why charts repeat themselves. Not saying I disagree with anyone here, just stating my thoughts. (PS, I also believe in momentum. One cannot just go in reverse and immediately stop and be on 100 mph. Momentum needs to build up. We need to trade slow for a while and then pick up momentum. Nowhere have I ever seen a correction being done with a sharp spike up and just continuing up. Even Bitcoin took some time before it started "mooning" to 20k.). Anyhow, just my thought, thank you for your post.
UnknownUnicorn1587964
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@BrettduPreez, Well said Sir, I think everyone should read this
SebastianofMoon
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I agree. Most of the Nasdaq btc comparisons are trolling anyways. I don´t think people really mean it, they just want to scare off some people XD
If you look at btc history, it always looked quite different than the Nasdaq chart. So yeah, I agree. How high it will go however, I have no idea.
UnknownUnicorn1587964
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@FlaviusTodorius67, lol i think some people really mean it, cos one guy, named E55 here on tradingview accepted my bet. I said if BTC goes 34k this year he sends me 1 btc, if no ill send him 2. He doesn't even believe that btc will go pass 10k this year. So yeah, maybe some people got their opinions stuck in their head and believe in that illusion
JonRulz
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@girius7777, 1btc if your prediction is right is 34k+. 2 BTC with his prediction it's like 6k if BTC drops to 3k. which i is the only way i'd see bitcoin consolidating for a year. A really really bad bet on his side.. this guy is an obvious gambler. to bad their isn't a betting coin that can act as a 3rd person. You'll probably never see your 34k if it becomes true.
UnknownUnicorn1587964
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@JonRulz, btc consolidating for a year at 6k? lol, this market is a bit faster than stocks market and etc, u can seen 6k today and by tomorrow 11k (just an example) look at this day, btc volatile in about 1k range
JonRulz
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@girius7777, Re-read. I said 2btc would = 6k. And if BTC were to drop to 3k It would most likely consolidate for a year because people would speculate that the short term bubble has popped. As we have seen in the past bitcoin can consolidate for years before it picks up again and breaks it's all time highs. This run has been on since 2015. it's a very possible scenario. Not a Favorited one, but anyone who thinks it's not possible the slightest is not thinking about it rationally. Though, I do think BTC has hit it's bottom, or close to it. there was a lot of volume at 6k. good indication we may be near the bottom. Even though it slowed down since.
UnknownUnicorn1587964
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@JonRulz, i understood what you said, no need to re-read. Yes in btc there are many possibilities, it hard to predict, but you also mentioned in the end that btc may be bullish
UnknownUnicorn1587964
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@JonRulz, by the way, if BTC won't reach 34k , but if it will stay at least above 10k noone will win. so really have nothing to loose. and 10k isin't much at all
TomPower
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Right on. Timing is the key. None of these other btc bears are using it. Just trendline and resistance. Scan out for a top as well