MFFD

MFFD

It seems that things are going totally different than in the previous history of Bitcoin. And now that FTX has gone bankrupt everything gets even 'gloomier'. Here is a very probable target ... the .618 retracement of HTF swing LOW to HTF swing HIGH. IF (!) we drop lower, somewhere around 10K is the ultimate bottom, for the time being ;) If not, we should head...

MFFD

This is the BLX, the index showing all of BTC's price action since its inception. Outside of a singular event in 2010 BTC has never moved outside of the 'territory' between the upper and lower dotted curves. And, in all its phases of BULL and BEAR markets, Bitcoin has always retraced to the .382 FIB level of its previous move from BOTTOM to TOP. In the...

MFFD

The weekly 13 EMA just crossed the weekly 200 MA. In whole the history of Bitcoin that never happened nefore... Can't be a good sign imho.

MFFD

Comparing the Fibonacci retracements from each ATH (All Time High) we had we can see that each consecutive drop is getting closer to the .382 retracement. And this year (2022) we CROSSED the .382 for the first time in BTC history. We also crossed the weekly 200 MA ... but the week is not over ... yet. Fingers crossed.

MFFD

Almost there. Once we hit the 200 W MA it's time to look out for a good time to long. Preferably first a swipe under the 200 ... and then a weekly close above is the sign that the bottom has been set. That swipe down might go as far as the 13.8K pivot (last time ALL TIME HIGH) That would correspond with a nearly 'perfect' 80% drop from our current ATH

MFFD

The DJI is being squeezed between the 13 EMA and the 100 MA the last few weeks. Soon we will know which direction we will be headed for the coming months / years: bull or bear. But watch out for a false breakout in either direction.

MFFD Updated 

We just lost the weekly 100 MA. Now the most probable turn of events is that Bitcoin will be filling the GAP between 25K and 26K. The major BUY ZONE is around the previous ATH of 20K

MFFD

Here is a trade I am looking for: After a SFP of the Daily LOW ... and preferably after a confirmatioon bounce off this Daily LOW ( see blue arrow line) ... a run up to at least the .618 is very likely.

MFFD

If Bitcoin tops out in 2022 according to this chart it should be between 105k and 165k, depending on which month BTC is going to top. See how the channel 'swoosh' edge lines are very well respected, even the middle (dotted) line! I'm betting on June 2022 ... with BTC around 135K What do you think?

MFFD

See how the 100 EMA on the-Hour time frame is holding BTC down? It's now decision time. When we close a 4H candle above the 100 EMA again and DO NOT immediately drop below it again ... it's probably off to the races. IF NOT ... we will very probably see another (major) move down.

MFFD

!5-16% profit target ... UP or DOWN :)

MFFD

After the top around 19.6K we are now in a short term downtrend. A downward channel may be forming ... if so we are close to the top of this channel during the current push up. If we break this channel it becomes invalidated and we will see further upward movement. if not ... it may be a nice moment to take a (new) short :)

MFFD

On the 15 minute timescale the 100 EMA is close to crossing the 200 EMA. This didn't happen since a week and might result in a more serious downtrend. Unless we recover above the 18.4K level soon ...

MFFD

BTC is forming a rising wedge. Usually (70%) breaks bearish. If the break down is confirmed, the target lies around 17.400

MFFD

As shown in this Idea we are probably not in an ascending triangle but in an ascending channel. The bounce up yesterday seems to point in this direction. If this is correct we might see a major move up to the top of this channel the coming week ... or at least towards 10K again.

MFFD

As you can see on this chart we have been trading in a particular range and angle for 40 days during March and April. Then we had a big spike up and traded in another channel with the same angle (!!!) for ... at the moment .. also 40 days Will we have a big spike (up or down) tomorrow? Well that would be a nice 'coincidence' :)

MFFD

It looks like my idea of a few weeks ago is exactly working out as predicted. When we reach point (4) of the Elliot Impulse Wave (and maybe we just reached it already) ... it's up to around $13,000 Have fun :)

MFFD

Bullish or Bearish? Sine the 27th of May we did nit have an hourly close with the whole body fully below the 200 EMA. We are very close to this EMA again ... AND a descending resistance seems to be holding BTC back. It will be decision time soon: UP or DOWN?