Updated BTC Forecast - Next wave! Bullish!! .....Then Bearish
Okay, so after reviewing some more ideas and information this morning, I have updated my chart - I know, my charts looking cluttered, but I am new to tradingview and unsure how to hide changes in the free version.
It has been brought to my attention that almost inline with the 60day cycle I pointed out in my last post, that on the 6th day of each month there tends to be significant price action. Illustrating the the 6th June with a green vertical line gives a pretty close point on the inclining trend (bottom pink) line for a bounce as compared to my previous post, so I think this ( 6th day) observation could be valid - also back dating shows a correlation to price actions since Dec/Jan.
If correct, the 6th of July would then be the target on the declining trend line where we would see the top of this wave. This is shown as a green vertical line which intersects the declining trend line right on the target I predicted in my last post of 8786. I believe this would be the last top we see before breaking down out of this triangle and re-testing key supports as mentioned previously. Thus if we dont see an immediate break down bouncing from this top, we may very well cross the bottom trend line on the 6th Aug (?).
To add fuel to the fire, Bulkowski's statistical analysis of symmetrical triangles states that the breakout (downwards) of symmetrical triangles tends to occur at around 73% of the distance to the Apex (75% for upwards breakout). From the start of my triangle to the Apex (apex marked with horizontal pink dashed line) we see 200days, 73% of this is 146days. The 146th day lands on the 1st of July.....hmm close to the 6th , this could mean we reach it on the 1st and move sideways till the 6th before breaking down if this was an ideal situation.
I have implemented my adjusted prediction with the red A-B-C lines, although C i have not officially predicted yet. If the break down plays out I will be aiming for an ultimate 2000-4000 zone and will post then. Note that in my first post I did not indicate properly where the 4th supermellenium wave would fall to - I will update that in due time.
Am I just cherry picking info to suite my narrative and neglecting any bullish info? possibly but I don't think so and not intentionally, I see a very short bull run before BTC shits the bed and then we're off to the races again.
Is all this new info just a coincidence(s)? Maybe. But what do they say about having many coincidences?
None of this is financial advice nor advice in general, this is for my own personal use to keep track for my own record. Do not use any of my information I am not a professional. I make no apologizes for spelling errors, I do not care.
It has been brought to my attention that almost inline with the 60day cycle I pointed out in my last post, that on the 6th day of each month there tends to be significant price action. Illustrating the the 6th June with a green vertical line gives a pretty close point on the inclining trend (bottom pink) line for a bounce as compared to my previous post, so I think this ( 6th day) observation could be valid - also back dating shows a correlation to price actions since Dec/Jan.
If correct, the 6th of July would then be the target on the declining trend line where we would see the top of this wave. This is shown as a green vertical line which intersects the declining trend line right on the target I predicted in my last post of 8786. I believe this would be the last top we see before breaking down out of this triangle and re-testing key supports as mentioned previously. Thus if we dont see an immediate break down bouncing from this top, we may very well cross the bottom trend line on the 6th Aug (?).
To add fuel to the fire, Bulkowski's statistical analysis of symmetrical triangles states that the breakout (downwards) of symmetrical triangles tends to occur at around 73% of the distance to the Apex (75% for upwards breakout). From the start of my triangle to the Apex (apex marked with horizontal pink dashed line) we see 200days, 73% of this is 146days. The 146th day lands on the 1st of July.....hmm close to the 6th , this could mean we reach it on the 1st and move sideways till the 6th before breaking down if this was an ideal situation.
I have implemented my adjusted prediction with the red A-B-C lines, although C i have not officially predicted yet. If the break down plays out I will be aiming for an ultimate 2000-4000 zone and will post then. Note that in my first post I did not indicate properly where the 4th supermellenium wave would fall to - I will update that in due time.
Am I just cherry picking info to suite my narrative and neglecting any bullish info? possibly but I don't think so and not intentionally, I see a very short bull run before BTC shits the bed and then we're off to the races again.
Is all this new info just a coincidence(s)? Maybe. But what do they say about having many coincidences?
None of this is financial advice nor advice in general, this is for my own personal use to keep track for my own record. Do not use any of my information I am not a professional. I make no apologizes for spelling errors, I do not care.
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