Bitcoin is always repeating fractals and patterns on different scales. Playing with the predictive bar pattern and adding what appears to be similar to what happened with the previous june/july cliff dive to watch for a possible repeat recovery.
Is the 2008 doom and gloom repeat crash that everyone in the media screaming about to be cancelled? It sure does look like it to me seeing the CCI and Macd current position I believe we have already seen the equal to if you add this current bear trend along with march 2020's crash.
Taking a look at grayscales GBTC in comparison by last drop of the cycle bottom on november 8th , 2018 to november 8th 2022 point. CCI and Macd similarities. Could show close bottom confirmation.
Updated bar fractal from october 9-13th double top downtrend added, thanks to the FOMO meeting this afternoon there was a quick pump and dump and the pattern is being followed very nicely.
Bitcoin flashed strong short signal and sell volume picking up as of 8 am and is following same double top fractal from oct 4-6th just on a larger scale.
Bitcoin seems to be forming a double top similar to last point of support from october 4-6th using the bar pattern from that very fractal to see how it plays out. Macd is already coming down from first peak october 27th and CCI is hanging just above 111.
Are we about to see the final capitulation for bitcoin as it heads for the lower support trend line.
Reverse engineering bitcoins previous ATH cycle peaks and Pi cycle bottoms, I project the next cycle peak to occur june 6-9 2025
The Bitcoin Bear has about gathered enough scraps to scurry back into his cave for hibernation. The monthly macro chart outlook showing signs closing in on the start of the next Bull cycle with CCI curling upwards along with Macd histogram color change. There is still a possibility of one last test of the june lows for a final shake out, wishing good health wealth...
Bitcoin is showing a very clear wyckoff accumulation event on 4hr chart coming out of spring test phase c moving into phase d and will be confirmed upon breakout of downtrend range price of 21000 which will put BTC in phase E blast off! The monthly chart CCI is upturning into reversal zone and Macd histogram trailing changing from red to pink.
The Dow Jones continues to plummet with no signs of bottom in sight as per indicators using Neural Network, CCI and MACD on weekly chart.
Bitcoin attempting to breakout but at the same time showing signs of weakness on the 4 hr chart CCI heading back down and Macd about to cross for confirmation. Traditional markets still on a downtrend.
Money flows back into stock markets along with crypto and other assets this morning on the hourly, dxy comes down a bit from its high as markets test their moving averages.
Bitcoin was rejected and body slammed after trying its hand at closing above the 200 ema on the 4hr. CCI flashed its GTFO of the market alert around 8am and since the Macd is a lagging indicator the price whipsawed down most likely liquidating longs before they even knew what hit them. Thats why its called wyckoff accumulation and the tricks are outweighing the...
Here is a speculative projection of what the next bitcoin bull run could look like using current stats and following a smooth recovery path similar to 2014 to 2017 bear to bull bar patterns.
Link is showing high volume trading and good possibility of repeating a recovery pump to test moving averages similar to what it did last cycle. By looking at particular alt coins such as chainlink we could get a possible outlook as to where bitcoin is also in the cycle and what we might expect to see with the price action.
The Dow Jones index crossed below the -100 line last week on the CCI and continues its descent, macd also confirms further downtrend with histogram turning red and blue line crossing down. Currently falling below and closing under the 200 ema flipping from support to resistance and is currently hunting the 300.