Bullmarkets
BITCOIN - Sets the tone for the cryptocurrency marketHello traders, we are looking on the daily chart of the famous BTCUSD. It is trading now greatly above the 10.000 USD level with good bullish momentum. BITCOIN has taken out the resistance in the 10.000 USD area, which you can see in my chart marked with the pink horizontal line. We seen the bottom confirmed last year 2018 which you can see in the chart, from that level we had some struggling in the bottom to come up again, now the new all time high is almost confirmed. Bitcoin is trading above the 61.8 % retracement of the bear-market, which for some magic reason is also the resistance at the 10.000 USD area. Above that we have the 50 % retracement of the bear-market decline, marked with the purple horizontal line, which of course is a important area. If we break through this area, which you can see in my chart marked with the purple horizontal ray we can see some more good bullish action for BTCUSD. If we hold this level and break through it is possible that we see some bull squeezing there, as new buyers come in and conservative investors investing in BTCUSD.
There is also an elliot-wave count detected in the chart you see, with major wave 5 forming now. Wave 3 is always the biggest wave, for that reason wave 5 cant be shorter than wave 3. Now what does this say to us? We have a minimum target of 20.000 USD for BTC because wave 5 must be longer then wave 3. The targets are projected in my chart. Looking on the facts provided, it points out that BTCUSD will make an all-time-high with very high probability.
Thank you for watching and have a nice day!
Bitcoin fractal in three shapes.It is just a simple observation of previous consolidation in Bitcoin and what can happen in very near future. Bitcoin is moving faster then we can comprehend.
DJIIt appears to me this whole range has been accumulation. The question is, is this accumulation to continue the longest term bull market the world has ever seen? Or, does this trend reflect accumulation for shorter term correction, a precondition for something like a recession if you will? Notice the arbitrary trend line is being tested, and the median price line, 2400, sits on a moving average. It seems to me it tried to break out 3 times and failed. The third test of breaking down though...Is it inevitable? Lots of risk I wouldn’t participate in to be honest.
Tesla (bag)holders on Robinhood are at all time high :)I should make a video so you can hear me laugh. At Tesla baggies face. But it is late here.
Robinhood = free trading "app" for complete casuals. It attracts complete noobs that look for an easy way to speculate and do not care / understand about quality of service. It's really the noob magnet.
Reminds me of something...
Oh right. Every single bear market ever.
Whales dumping. Morons buying "cheap".
Enjoy these bags. This time it's different.
This wall street cheat sheet or whatever you want to call it, just a general guide... Can look very different in some cases:
But I think for the "big stuff" with alot of participants, the patterns will be very much like that.
K that is enough examples for today. Just keep an eye on Tesla, see how it goes, next Tesla will be similar. Continuous learning. And BitconnectCoin too.
This is what institutions do btw. From what I heard + would bet 99%. + Wall street cheat sheet is their "10 commandments".
Market cycles / Elliot waves, more or less the same thing.
