supestv

supestv Updated 

Here is the April 19 plunge fractals overlayed. You can see how the fractal bounces off twice off the orange long-term trend line , the "most important line to draw in btc" before going back up to the upper resistance line at $48k before plunging down to $25k and bouncing off the decades old green super long-term trend line . The fractals line up with all the...

supestv

I'll be honest, I completely did not anticipate this huge pump. I'm still not sure whether this pump from $29k is some elaborate prank or is it really the start of Wave 5. The reason being is that it broke so many patterns to the upside, the patterns and analysis seem meaningless now. And the channel pattern is now the default pattern. BTC is always following...

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This whole time I mapped a 5 sub-subwave down (yellow) for the subwave A of an ABC correction (ABC correction is intermediate wave 4). However, the subwave B never looked right. I tried an ABCDE sideways correction, but still it looked wrong in relation to the 5 wave down. However, now with this impressive pump up to $39k, we have what appears to be a perfect...

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In this post, I said the price would hit $34450 (it hit $34479) in the red circle: and in this post, I said the price would hit $33880 in the blue circle: .. based on 786 Fib retracement levels. The price hit both targets indicating the market is somewhat split on whether the big moves up and down are bearish or bullish. Based on the 15m candles, the moves...

supestv

The recent low of 33722 retraced to 34472, and therefore the 786 fib retracement level is 33882, which we are very close to. If we pass below the 786 fib retracement level forcefully, I think we are for sure going down back to $29k I have seen the price rebound before in the mid point between the 786 and the full retracement level, at around $33802, so if it...

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I have been examining the Fib retracement levels of corrective waves, to see what is the maximum limit that a corrective wave can retrace before resuming the impulsive direction. The answer is the halfway point between Full Retracement (1) and the 786 Fib retracement level. This aggressive correction usually occurs on a wave 2, which is the case here. We see an...

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That the price bounced off the H+S neckline (thick white line) does not surprise me, in fact I expected it (see: ) However, the way it bounced off surprised me. Previously, when the price met the line it would meander about the line, and cross it in both directions testing it before eventually plunging. This time however, it has just bounced off and dropped...

supestv Updated 

Well I think we've finished Subwave 1 and 2 and are onto Subwave 3 of this Wave C of this ABC correction. The strength of subwave 1 leads me to think that we are heading to $36k/$37k, and not $35k. Is it possible that this wave we are on is not an ABC correction, but actually the start of the Intermediate Wave 5 to $100k and beyond? Yes, it's possible. We may...

supestv

In this post: .. I analyzed the current wave structure to predict where the price is going before a turnaround, and tried to rationalize whether we are on an Intermediate Wave 5 up, or we are still on the Intermediate Wave 4 down to $20k ish. To help determine this, let's analyze these 2 points back in 2018: the red circle or the blue circle is analogous to...

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Previously I thought the drop down to $32k proved that the ABC correction was over, but this jump up to $32700 invalidated that idea (I believe). See my previous thoughts here: However the yellow horizontal line still needs to be crossed as not passing it indicates a triple top pattern which is very bearish. Right now the price is hovering at the line, and I...

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In this post 1 hour ago: I posted warning signs of bearish divergence plus the formation of a mini heads and shoulders, and BOOM $42k like predicted. Next steps after this, I believe is a continual drop throughout the day to complete the handle of the inverse cup and handle pattern, which will then continue the drop to complete the massive heads and shoulders...

supestv

Bearish divergence on RSI and MACD on the hourly charts, plus I see a little heads and shoulders forming, signalling a likely drop to $42k, and then further downside thereafter. On the daily we are forming the handle to a cup and handle pattern, see: .. so this drop to $42k + further downside may lead to the completion of it. On the other hand, the drop to...

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Just want to post what the Elliott count might be. We will know at the end of the day whether it ends up playing out like this. I did say about 15 days ago here: .. which predicted a drop to $29k before going to $32k, and then proceeding to drop down. However because the wave structure going to $32k is a 5 wave, then it leads me to believe that from $29k to...

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.. earlier I made a post suspecting that the current pattern was a Bull Flag (I mistakenly labelled it as a Bull Pennant), which has a 67% reliability. Then as the last 2 hours played out, I thought it may actually be a rising wedge instead. Then as you can see in the current hour the breakout was rejected so I don't think the Bull Flag is valid any more. ...

supestv Updated 

I think in the short-term we are in a Bull Pennant (67% reliability) with an upside target of $34k ish (see green lines). I didn't predict this short-term correction, but the pattern is the pattern.

supestv

6 days ago, I posted this: about the Inverse cup and Handle forming. Looks like the handle is almost complete! (see yellow line above) 15 days ago I posted this: And you can see the price has pretty much followed the path I drew: first down to $29k, then back up to $32k, then back down again. You can also see the orange rising wedge pattern that I drew,...

supestv

The daily candle has closed below the red line, which is the final line that can't be closed under to remain bullish. In this post: I talk about the 2 heads and shoulders necklines, the white line drawn using daily candle bodies, and the red line using daily candle wicks. The white neckline was broken 3 weeks ago, but for those using the red neckline - it was...

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So in previous posts I have been saying that the thick white line that you see near the top is the "real" heads and shoulders neckline that was broken 3 weeks ago. It was an area of significance as the weekly, daily and hourly candles reacted to it. The white neckline is drawn based on daily candle bodies. However in this post .. I show a thick red line which...