Bitcoin (BTC) analysis thread

[sebking1986]

Nice analysis as always. Crazy how these patterns repeat themselves or appear to. Hopefully on the verge of a decent bullish move soon.

 

[ForexTus]

Lets hope it pushes soon!

 

[pezz55]

View attachment 57848
View attachment 57849

Hi all. From my last post you can see why I don`t like lower time frames and short term BTC analysis at all. It was a good setup but with BTC anything can happen literally from nowhere so that`s why i`m continuing with long term picture.
This time i`ll show you some history and the only question is “Can this history be repeated again?”. From the chart 1 you`ll see and interesting pattern which happened before the second and third ATH. It`s a descending triangle, some sideway move, then an ascending triangle and then… next ATH. It`s happened twice and both times was before the next ATH. Guess what is the chart 2 picturing…? Exactly the same story but it`s happening now. A descending triangle, some sideway move, then an ascending triangle. What`s missing…? Yep, the next ATH! I want to make only 2 clarifications:
1. It`s not 100% sure that the history will repeat but we`ve already saw it so it`s very likely.
2. The latest ascending triangle is not so clear but that`s because of the Corona drop and that drop is something really extraordinary and if the Covid crisis didn`t happened, we would have a perfect ascending triangle. That`s from a technical perspective for now. Now some side words. Like you already may be saw from my charts, i`m a BTC bull. Even a moon boy may be. But let`s be honest for a short term perspective. Exactly in a short term i`m expecting some more blood on the markets and I don`t mean only for a BTC. Like we saw from the last BTC drop, exactly simultaneously Gold, Silver and Oil also dumped. For me that`s a sign of a second Corona dump. It won`t be deadly for BTC for sure but it can hurt, so it`s good all of us to be prepared. Just have this in mind.
The second thing which blew my mind lately is unambiguously. I believe most of you know the story and idea behind the Bitcoin. Also like most of you knows that the real wealthy peoples in the world are small number and they don`t like BTC because they`ll lose their power and they`ll do what`s needed to prevent this from happening. One of these peoples are the Rothschild family. Google them if don`t know who they are. For sure they don`t like BTC but guess what… Their Rothschild Investment Corp is number 15 in the top 20 Institutional Bitcoin Investors list according to not anyone but Forbes. And if that`s not a bullish for BTC…
That’s all for now. See ya next time.

Wow thanks for the history and break down. love seeing it that low and the moves it made. how every one used to say there is no value in BTC and you are wasting your money. if only i had bought a few back then.
cheers for the information and lets hope for the next high

 

[Fruby]

Thanks for the update. You are correct, anything can happen but I'm feeling positive.

 

[Colin Lewis]

It's had a very rocky few days and looks to be following gold on the downside. Those correlations are still positive though for me

 

[Deleted member 231512]

The push back up has begun fellas. Let's hope it lasts

 

[Colin Lewis]

The push back up has begun fellas. Let's hope it lasts

Think it's remained solid this weekend ready to push again in october

 

[momo3HC]

Hi all. I`ll be very short but specific this week.
Strange week for Bitcoin and crypto sphere at all. Right? Price swing, Bitmex scandal, Trump with Covid and etc. But you know what? I don`t care about all that. All I can see is a bright Bitcoin future cuz of one simple chart. Do you remember my 3 month quarterly BTC chart from the end of August? If you don`t you can check it at the left side of the chart below. Like you`ll see from the chart, every time when we close a 3 month candle above the descending trend line from the last ATH, the run for the next ATH is starting.
Now look at the right side of the chart below and what are you seeing…? Yep, it`s true, a 3 month candle already closed above the descending trend line from the last ATH. So maybe we`ve already started the next ATH run. Only the time will show am I right or not.
That`s all for now.
See ya next time.

 

[Fruby]

Let's hope so. It's certainly been an eventful week.

 

[Colin Lewis]

Perfect timing for me here. Holding a good amount right now