Bitcoin /USD rate (December 2021)
I had an idea for what we would approximately see in bitcoin hourly chart for this time frame, I think I was just playing with my fractal idea too much so I’ve updated it to get more correlating up/down moves. Doesn’t mean it will be right, just trying to see if providing an adjustment yields any better results. (Original chart)
I have included my own idea of an alternation on the lowest section of the fractal I have (in gold) so that it goes lower and potentially goes back to the levels that the big wick at the beginning of this pattern hints at. I think the low for this pattern will end on either one of my fibonacci multiples at 0.5 ($43,882) or 0.618 ($40,564) around the first week of January 2022. If that is correct and the bear isn't (quite) here yet, one last major pump could come before doom.
To be explicit: I believe peaks and lows that will be achieved from now until mid/late-2023 are:
Low: $6,580 (+-25%)
High: $75,320 (+-7%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin at the moment. I don’t want to change my mind which sounds crazy right now.
Previous charts I've built coming to this conclusion:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
I had an idea for what we would approximately see in bitcoin hourly chart for this time frame, I think I was just playing with my fractal idea too much so I’ve updated it to get more correlating up/down moves. Doesn’t mean it will be right, just trying to see if providing an adjustment yields any better results. (Original chart)
I have included my own idea of an alternation on the lowest section of the fractal I have (in gold) so that it goes lower and potentially goes back to the levels that the big wick at the beginning of this pattern hints at. I think the low for this pattern will end on either one of my fibonacci multiples at 0.5 ($43,882) or 0.618 ($40,564) around the first week of January 2022. If that is correct and the bear isn't (quite) here yet, one last major pump could come before doom.
To be explicit: I believe peaks and lows that will be achieved from now until mid/late-2023 are:
Low: $6,580 (+-25%)
High: $75,320 (+-7%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin at the moment. I don’t want to change my mind which sounds crazy right now.
Previous charts I've built coming to this conclusion:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
