Bitcoin Dropped To The Target

Many years ago, when I was fifteen, I was inspired to become a professional trader after I had read a magazine story about a so-called “whale, the large market player. He was moving the markets with large orders sent to his broker out of his luxury hotel room. Markets were panicking, and politicians were trying to soothe the public telling them “true” stories. But the truth is that the impulse of the price was generated first in the “whale’s” mind and then it reached the market through the skillful hands of his broker, no other reason, except his will. The concept behind his action is a real mystery, known solely by himself. He could use any kind of analysis to be successful. The remaining is just the “noise.”

We are not “whales,” and I am not fifteen anymore, but we can find market irregularities to turn it into a profit. Let politicians talk, media buzz and profit run.

The bitcoin structure has been developing prophetically accurate as per the plan, that I shared with you a month ago. The leading coin has dropped hard from what looked to be an unbreakable area at $10,000 to hit the most anticipated target of $7,800. The actual low was just a few dollars below it. Again, the majority of you have made the correct choice based on the chart structure I highlighted for you. Hopefully, our vision gets sharper over time.

This collapse extended the damage of the crypto to 43% from the top of $13,764 established in June. The media have naturally started the “noise,” but we were prepared for this move two months ago, and we are not going to buy their “truth” as they usually sell extremes of either doomsday or a tulip mania. None of this is going to happen soon. Some “whales” just pushed down the market reckoning old trading wisdom – “if they don’t buy then I sell.” That’s it. This is what I was telling you at the opening of this post. Continue reading "Bitcoin Dropped To The Target"

Bitcoin Is Running Out Of Time

Last month I updated the Bitcoin chart after this cryptocurrency made a buzz at the end of the June pushing through $13,000. In the same post, I shared with you the 4-hour chart where the horizontal consolidation had been spotted. The Bitcoin price was at the $11,500 level then, and I expected it to drop lower to complete the correction.

Let’s see below what you were waiting for Bitcoin then.

Bitcoin Poll

The majority of you expected Bitcoin to drop to the $7,800. Bitcoin haters were second to see head much lower. And the fans were in the third place with an immediate reversal option (stops here).

So far the least liked option of CD=AB at the $8,980 was the most accurate prediction as the Bitcoin indeed dropped lower but only to the $9,071. I think that time emotions were above the calm mind as the 5-digit price tag of the crypto spurred both euphoria and hatred as opinions were divided. Continue reading "Bitcoin Is Running Out Of Time"

Restless Bitcoin Makes Fiat Elite Sleepless Again

A year ago, “Bitcoin was at a crossroads” as then I spotted a triangular consolidation on the chart. The price could go both upside and downside, and I marked them as “Revival” and “Oblivion” areas accordingly. Below are your bets for the future of Bitcoin a year ago.

Bitcoin

Crypto enthusiasts are in the majority, although haters scored a hefty 41%. This violent confrontation shows that Bitcoin again threatens the interests of the elite as there are a lot of people, including President Trump, who expresses their opposition to cryptocurrencies as a whole. And it’s a natural course of things as human beings often reject changes and the elite try to shield their ultimate position.

Bitcoin broke both the downside of the triangle and the bearish confirmation level at the $6400 entering the “Oblivion” territory. The bearish target of $1250 had not been reached as the price of crypto gold had reversed ahead of $3000 notch. So, the first move was to the downside, and those of you who chose the “Oblivion” option was right.

This year Bitcoin entered the “Revival” area. It’s time to update the chart, and I am going to start with the monthly time frame. Continue reading "Restless Bitcoin Makes Fiat Elite Sleepless Again"