Roadmap to 12k
Remember me? Yea, it's the guy who called this bull run before anybody else. Here I provide a roadmap for how Bitcoin gets to 12k. Follow or like to get the latest updates.
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a little light reading to get you startedהערה
We are currently in the throwback of the breakout from the inverse H&S. I wouldn't worry about prices coming down below $7625.הערה
Once we hit the $7775 range, we'll see another fast jump up.הערה
I was off with my lowest price prediction.... by $28הערה
Expect sideways action for another 4-12hours. But I wouldn't worry about it going down, we've already hit our intra-day lowest price. Be careful when we hit these periods of sideways action, you can get carried away and trigger-happy fingers can cost you. When trading coins during bull runs, the idea isn't to accumulate more money, it's to accumulate more coins, and if your trade won't serve that purpose, don't do it.הערה
We are about to make a jump up.הערה
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It'll be $8400 before our next significant pause.הערה
I think we're going to get pretty close to 10k with multiple one to four hour long pauses along the way. Basically a straight line up if you were looking at the day chart aka don't look at anything less than the four-hour chart for the time being. After we fail to break through to 10k, there will be a long period, my guess is about a month long, of sideways action before this bull run resumes to break through 10k. My updates will become less frequent during that time, so just a piece of warning: the lines I drew on this chart or draw on any other chart are just imaginary. TA will not tell you exact price movements on this kind of a scale, only (within a margin or error) over a longer time frame. The things to note here are 2 main pointss, 1) price will go sideways for a prolonged period of time if we do not break through 10k, with a side note here that trading during such a volatile time is just asking to get rekt, and 2) the general trend during that sideways period will still be up. I guarantee you hodling during that period will leave you with more than if you were to try to guess at the intraday price movements. With all that said, here's how I THINK things might look based on reoccurring patterns along with resistance and support lines: הערה
From the fractal patterns I'm seeing on a smaller scale, the stallout periods will be longer going up, here's a revised drawing:הערה
If you look at the 5min chart right now, it's giving you an indication of what the 4hour chart will end up looking like. Fractals, they're everywhere.הערה
Here's what could happen if we stall out at 9200הערה
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finally, what happens if we drop from here and then stall out at 8400הערה
the 9200 looks like the best bet to me, the last one seems to be the worst. When I look at the chart, I see the whole contraption trying to tilt itself upwards. Right now as you can tell the Inv HS was tilting downwards, the movement of the chart feels like it's trying to even out, or create an even shoulder line. Should that happen then those crazy 40k+ scenarios would actually be in the realm of possibility.הערה
The first option, the one I drew with lines assumes that the tilt upwards has already happened.הערה
If the tilt upwards has already happened then we are seeing mirror image of the crash taking place, just over an extended period of time. For instance, in this picture the blue circles are, or will eventually be complementary mirror images of green circles. Same shape, just over an extended period of time.הערה
Also a possibility... let's see how it plays outהערה
we'll be jumping 3%+ in the next 15-30minsהערה
Maybe more like an hour and a half. Here's how I got that estimate, on the 15min chart:הערה
We're not gonna get much further after that. The bulls are having too hard of a time pushing up. There will be a correction shortly afterward dropping us down. If/When that happens, the thing to remember is that we are still in an uptrend. And while we are in that trend, HODLing is a safer play than trying to make intraday trades, unless you have some experience and are confident you can pull it off. If we go below 7k, I would consider us out of the uptrend and firmly back in a downward channel. But every indication is that won't happen. So, enjoy the rollercoaster ride and remember the current trend is up!הערה
at least a percentage point jump is imminentהערה
HOLY CRAP!!! we're doing a 15% jump in the next hourהערה
We'll probably hit between 8800 and 9000 before taking a pause to take a breath.הערה
Back to the pretty pictures. I think we're going to hit 10k, before this bull run is finished. There's just too much action going on for the alts, those that don't have access to them will substitute with BTC. Expect a few minor corrections on our way up to 10k. Here is one possible way things could go, just get a feel for what the coin would do since it's never going to be a straight line to the finish line, so you don't panic sell or panic buy, etc.הערה
Please note, that I strongly believe at least one of those corrections will bring us back to 7800.הערה
Here's a zoomed out perspective. This Inverse Head and Shoulders formation - however the right shoulder peters out, will failהערה
However, that failure will allow us to complete this Inverse Head and Shoulders formation: הערה
That formation will bring us up past 10k.הערה
I've thought things through, this is going to be as close to the real thing as I'm going to be able to get:הערה
we are definitely tilting upwardsהערה
tilting upwards put a new high into the realm of possibility...הערה
We are forming a rising wedge for BTC, aka nearing correction territoryהערה
It's a symmetrical triangle on the 1hr chart, it could break either wayהערה
If it breaks downwards, we'll be retesting $7200הערה
I've closed all positions, time to wait it out.הערה
A little discussion about ascending wedges. It's basically a triangle where the highs never go any higher, while the lows keep getting higher, like a ceiling that you keep bumping into, even when all indications are that things will go up. Generally in those kinds of triangles end with a dramatic drop in the price. On the 5min chart, the triangle looked as such, but I noticed on the 15min, the pointy tip of the 3 white soldiers patter made it a symmetrical triangle instead. A symmetrical triangle can break in either direction, usually not as dramatic. Why am I so confident we won't drop, even as I see sell orders coming in? Well, we broke the triangle, when the price climbed above the exit point, so we longer have a triangle, hence no fear of imminent fall. What's happening now is people who haven't caught on to that fighting it out. We already know who's going to win.הערה
what's happening now is the completion of the handle of a cup and handle formation. The handle was created by our break out of the triangle. So get ready for another bump up.הערה
if you are drawing your own pretty lines on a chart, note that we are now slanting up, and I believe that we will now create an even shoulder line to the cascading Inverse Head and Shoulders formation that we're creating. Also note, save for one really big shoulder that I keep seeing in my head, the right shoulders will be smaller than the left.הערה
if you've trigger happy fingers, time to turn off the monitor until we've hit 10k.הערה
we've hit the end of a particular pattern that would take too long to describe, we're upwards from hereהערה
Here's the pattern on the 15 chart. It always ends with a doji or long wick candle.הערה
it looks like the price line is a snake squirming upwardsהערה
does that look similar to the 15 mins chart?
It's fractals of the same pattern forming on a smaller scale. The picture is of the weekly chart. Where do we go from here? Well, the 15min chart is about to give you a clue.
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5min chart :Dהערה
Fractals Fractals Everywhere :)הערה
Here a side by side, #1הערה
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now for a comparison against a smaller version of the pattern, that's already formed on the one hour chartהערה
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fractals by definition build up to create a bigger version of themselves. Right now we are in EITHER a fractal of the 3 Peaks and Domed House Pattern, or the reverse Domed House and 3 Peaks pattern. Whichever we are, at minimum we will create peaks that are midway up from the Dome House. Having based my analysis mostly on pattern recognition. I am confident that means we get to at least 9k, are fairly sure it means 10k. Now, what happens after that, only time will tell.הערה
the scale can be hard to gauge :/הערה
we're going to drop down to 7600, go back up to 8800, before dropping back down again.
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we might not drop down, but follow my drawing instead. I'll publish the one I posted as pictures earlier in the day.הערה
Sorry to keep switching charts, but we are moving fairly quickly and I want to keep you guys up to date. I'll be updating the 'Road to 12k - A Close Up' chart.הערה
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