The Trap 4, Bitcoin's “B” wave the biggest joke
ที่อัปเดต:
Disclaimer : As a chartist I don't have any intention to manipulate the prices, all our work is completely based on our research and analysis, we request you to please read the complete report before making any type of comments. the only thing that matters for a trader is to make profit and protect his capital. Markets does not understand bullish or bearish situations, they are just a reflection of human emotions, and my work is to capture the future direction without a crystal ball, so i could be wrong, so it's better that you should invest on your own risk. Thankyou.
hey guys welcome for another grand update on Bitcoin with a next fresh part of the trap series
In case If you’re not familiar with the trap series, here’s the very first part of it published on 17th may 2019, where I made a prediction based on Elliot wave projection on the weekly chart of Bitcoin and predict a rally towards 13500 and than a dump towards 1100 level
You can check the rest of published ideas of the trap series below, keep following me for future updates.
Ok so now coming back to the point…
Bitcoin's “B” wave the biggest joke in crypto, what else could be the best day to make the biggest and one of the most expensive jokes in the history of humanity, I would say 1st of april...
so we made that joke and now the time has come to unleash the truth
on 1st of april 2019 exactly midnight at 12, billions of dollars enters in bitcoin and suddenly prices increases by over 20% and keeps moving higher and higher without giving any pullbacks or second chance for buyers, and this show keeps continues for the next 80 days until Bitcoin grows by more than 300% and hits the highs of 2019, and then the dark black night…
the long and painful wait for the new highs in the hopes of next recession or hitting the historical highs of astrological predictions of 50k, 70k, 100k etc etc...
and the story continues
Now talking about the top chart so i don’t think i have to say much on this, probably you already get the idea from the charts, that most likely we’ve already completed the giant B wave and now the C wave has already started, lets dig it a bit more to understand
once again the formation i mention again and again, if this is the C wave which it is according to elliot wave cycle than most likely end of this wave is FIB236(from 0.1$ to 20000$) or the top of wave 3 which is around 1100$.
that's one of my major arguments here based on time scaling, i’ve also mentioned this earlier in Nov in my Bitcoin’s Mandelbrot fractal idea, you see first we have the 2017s bull run where accumulation phase is 287d and than we break the major resistance zone and start a parabolic phase which is 779d long almost 2.5x of accumulation zone and than we enter in a downfall which took almost 365d to complete.
that's how a bull market acts like.
now moving towards the second chart which represents the current situation u see the accumulation zone was around 108d and than we enter in a parabolic phase which is just 85d, even shorter than accumulation phase and than a downfall which has already taken 184d and in just the next 10 days it gets larger than the whole bull market which is 193d long, this doesn't shows an organic bull market properties rather it shows us a big bull trap or potentially B wave properties
Here’s my argument that this bulls market is actually a B wave
notice this both charts, representing different wave formations, in the blue chart is what i think is most likely scenario, which is the internal formation of a B wave and in the black one's is a normal 5 wave bullish formation, which i dont think is applicable.
why?... so there's a rule in elliot wave theory called rule of alteration, according to that if wave 2 retraces more than 61.8% than wave 3 will be weak and most probably prices will form a contracting or expanding diagonal formation, clearly the 5 wave formation in black chart violates the rule of alteration, cuz wave 2 retraced upto 78.6% of wave 1 and wave 3 goes upto 300% of wave 1, but in the blue chart we see that ABC corrective formation fits perfectly, however its not necessary that wave always follows the rule of alteration but from past performance in Bitcoin's price action we've seen that Bitcoin precisely follows elliot wave and respects all the rules, mixing this with time scaling it gets most likely that the wave from 3200 to 13800 was a B wave
here's my custom RSI in weekly chart, you see how reliable it is in higher degree and generates perfect calls, when prices enters in red zone it's a clear signal of a Bull market and when it enters in a green zone it's a bear market.
in sep 2019 when Bitcoin is trading around 10200 we start to drop from red zone which was a clear sign of losing momentum and now you can see how sharply we're moving towards the green zone and most likely we'll enterin green area in coming weeks, once we get there, it's all over.
now notice my custom RSI during 2015-2017 bull market, it didn't even drop below the pink zone and we see an organic bull market here.
my another concern is 200 Weekly moving average, which is the major level to define any bull market, see in this chart.
usually prices tests 200 WMA and holds it perfectly and than another major sell off gives the buyers another buying opportunity and prices retest 200 WMA forms a double bottom which confirms that buyers are optimistic and protecting 200 WMA and getting in to buy every drop, but here we dont get any retest of 200 WMA and just from a small gap prices starts to pump.
in a bull market prices dont come that quickly to retest 200 wma, if buyers are positive with future price direction, they will protect upper levels like 200 daily ma, 55 weekly ema or 21 monthly ema, but here we saw that this upper levels were failed to hold prices.
anyone can clearly see this that stock markets keeps moving higher and higher and Bitcoin keeps sinking every day, now what else you want to see, most of the big money has already shifted from crypto to stocks and still it keeps moving.
Apart from that, why am bearish on Bitcoin and what I think is that, as a society we need to be more matured before implementing blockchain in our system and giving everyone their rights for their privacy, freedom and value security.
In this system you’re just a pawn, your existence is a commodity and your personal data is an asset which you’re giving completely free to the big players and by that you can easily be manipulated, your thoughts are not yours, it's injected in your mind from somewhere by someone…
In just 10 years technology has paralized the whole society, we can’t live without our phones and social connectivity, even can’t imagine that life, quite strange and dangerous.
Belive it or not, with data they are controlling you, your friends, your family and your childrens.
Bitter truth...
that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram
this is Husain Zabir signing out
thanks you
hey guys welcome for another grand update on Bitcoin with a next fresh part of the trap series
In case If you’re not familiar with the trap series, here’s the very first part of it published on 17th may 2019, where I made a prediction based on Elliot wave projection on the weekly chart of Bitcoin and predict a rally towards 13500 and than a dump towards 1100 level
You can check the rest of published ideas of the trap series below, keep following me for future updates.
Ok so now coming back to the point…
Bitcoin's “B” wave the biggest joke in crypto, what else could be the best day to make the biggest and one of the most expensive jokes in the history of humanity, I would say 1st of april...
so we made that joke and now the time has come to unleash the truth
on 1st of april 2019 exactly midnight at 12, billions of dollars enters in bitcoin and suddenly prices increases by over 20% and keeps moving higher and higher without giving any pullbacks or second chance for buyers, and this show keeps continues for the next 80 days until Bitcoin grows by more than 300% and hits the highs of 2019, and then the dark black night…
the long and painful wait for the new highs in the hopes of next recession or hitting the historical highs of astrological predictions of 50k, 70k, 100k etc etc...
and the story continues
Now talking about the top chart so i don’t think i have to say much on this, probably you already get the idea from the charts, that most likely we’ve already completed the giant B wave and now the C wave has already started, lets dig it a bit more to understand
once again the formation i mention again and again, if this is the C wave which it is according to elliot wave cycle than most likely end of this wave is FIB236(from 0.1$ to 20000$) or the top of wave 3 which is around 1100$.
that's one of my major arguments here based on time scaling, i’ve also mentioned this earlier in Nov in my Bitcoin’s Mandelbrot fractal idea, you see first we have the 2017s bull run where accumulation phase is 287d and than we break the major resistance zone and start a parabolic phase which is 779d long almost 2.5x of accumulation zone and than we enter in a downfall which took almost 365d to complete.
that's how a bull market acts like.
now moving towards the second chart which represents the current situation u see the accumulation zone was around 108d and than we enter in a parabolic phase which is just 85d, even shorter than accumulation phase and than a downfall which has already taken 184d and in just the next 10 days it gets larger than the whole bull market which is 193d long, this doesn't shows an organic bull market properties rather it shows us a big bull trap or potentially B wave properties
Here’s my argument that this bulls market is actually a B wave
notice this both charts, representing different wave formations, in the blue chart is what i think is most likely scenario, which is the internal formation of a B wave and in the black one's is a normal 5 wave bullish formation, which i dont think is applicable.
why?... so there's a rule in elliot wave theory called rule of alteration, according to that if wave 2 retraces more than 61.8% than wave 3 will be weak and most probably prices will form a contracting or expanding diagonal formation, clearly the 5 wave formation in black chart violates the rule of alteration, cuz wave 2 retraced upto 78.6% of wave 1 and wave 3 goes upto 300% of wave 1, but in the blue chart we see that ABC corrective formation fits perfectly, however its not necessary that wave always follows the rule of alteration but from past performance in Bitcoin's price action we've seen that Bitcoin precisely follows elliot wave and respects all the rules, mixing this with time scaling it gets most likely that the wave from 3200 to 13800 was a B wave
here's my custom RSI in weekly chart, you see how reliable it is in higher degree and generates perfect calls, when prices enters in red zone it's a clear signal of a Bull market and when it enters in a green zone it's a bear market.
in sep 2019 when Bitcoin is trading around 10200 we start to drop from red zone which was a clear sign of losing momentum and now you can see how sharply we're moving towards the green zone and most likely we'll enterin green area in coming weeks, once we get there, it's all over.
now notice my custom RSI during 2015-2017 bull market, it didn't even drop below the pink zone and we see an organic bull market here.
my another concern is 200 Weekly moving average, which is the major level to define any bull market, see in this chart.
usually prices tests 200 WMA and holds it perfectly and than another major sell off gives the buyers another buying opportunity and prices retest 200 WMA forms a double bottom which confirms that buyers are optimistic and protecting 200 WMA and getting in to buy every drop, but here we dont get any retest of 200 WMA and just from a small gap prices starts to pump.
in a bull market prices dont come that quickly to retest 200 wma, if buyers are positive with future price direction, they will protect upper levels like 200 daily ma, 55 weekly ema or 21 monthly ema, but here we saw that this upper levels were failed to hold prices.
anyone can clearly see this that stock markets keeps moving higher and higher and Bitcoin keeps sinking every day, now what else you want to see, most of the big money has already shifted from crypto to stocks and still it keeps moving.
Apart from that, why am bearish on Bitcoin and what I think is that, as a society we need to be more matured before implementing blockchain in our system and giving everyone their rights for their privacy, freedom and value security.
In this system you’re just a pawn, your existence is a commodity and your personal data is an asset which you’re giving completely free to the big players and by that you can easily be manipulated, your thoughts are not yours, it's injected in your mind from somewhere by someone…
In just 10 years technology has paralized the whole society, we can’t live without our phones and social connectivity, even can’t imagine that life, quite strange and dangerous.
Belive it or not, with data they are controlling you, your friends, your family and your childrens.
Bitter truth...
that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram
this is Husain Zabir signing out
thanks you
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tradingview.com/x/QKnzsd9g/\meanwhile here in short term prices looking bullish and can break the resistance and keeps continue to move higher
my custom rsi has also moved in the red zone in 1h chart confirming the bullish momentum
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here's the short update on Bitcoin for those who looking for better sell targets, enjoy:)
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seems like Bitcoin is now prepared to keep moving higher
บันทึกช่วยจำ
happy new year guys just announced an exciting offer for all you check out my status or twitterการซื้อขายยังคงดำเนินอยู่
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bitcoin yearly close with a huge shooting starการซื้อขายยังคงดำเนินอยู่
Just published the final part of the trap series, thanks all for your love and support
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