So i'm going to get a lot of hate for this... but screw it. It's something I am considering. It's 100% based on real technical analysis too.
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First off. Bearish divergence. What is bearish divergence? Bearish divergence is when price goes higher and an oscillator does not go higher.
Look at 1,2,3 in the picture. 1 is the highest. 2 is lower. 3 is even lower. Look at price corresponding with each circle. A is a high of a bull market. B is the next bull market. C is the current one.
So price made a high. Higher high. Highest high. Oscillator made a high. Lower high. Lowest high.
This is 100% Class A bearish divergence of the most severe magnitude. There has never been double bearish divergence like this for bitcoin on the monthly chart RSI.
I want to stress that. NEVER.
This is a big deal because it's never happened before. Bitcoin is in a very unique situation that it has never been in before.
We are at a unique moment in time.
Something unique will happen.
Something major.
Something no one thinks can happen.
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Now that we have made that part clear on what divergence is and demonstrated the divergences...
Let's look at what else is in the picture.
A, B, C.
A rejected at the .382 exactly. It formed a little descending triangle on top of the .5 line(perfectly). It eventually fell through the .5 line. Then went on to continue the bull market.
B rejected above the .236 and formed a little descending triangle on top of the .236 line (perfectly). once it fell below the .236 it created a bear market. Getting above the .236 caused it to find the peak of the market at C.
What am i trying to say with this A,B,C stuff?
The bull run is over. C was the top. This market is too beautiful to make a pattern this neatly at those exact fibonacci levels.
A,B,C patterns like that are very often .618 reversals in regular markets (when they have accompanying bearish divergence). go look at bitcoin on the daily chart and look at bitcoin at the 65k top. Seriously. Go do this right now.
Bitcoin made this A,B,C pattern at the 65k top on the daily chart. Bitcoin also just made this A,B,C pattern at the second 53k top a few weeks ago. There's an exact name for this 3 rising peaks thing but I forget it. It's "three ____" (some word I forgot). Oh well.
What else am i saying? I'm saying something you won't want to hear right now. It's going to piss a lot of you off. Like a lot. Like, this is going to make you more angry than anything anyone has ever said. You'll say this is impossible. You'll say i'm crazy. You'll say it can never happen. You'll say a lot of things.
I think it's very possible bitcoin goes down to 114 dollars. I think if it happens it will happen in october/november of 2022. 114 dollars is the .618 retrace. It lines up with the bottom of that fib channel.
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I do believe this is what the great reset is. For any of you political types. I think agenda 2030 is this. Because if i'm right? Bitcoin goes from 114$ in october/november 2022 to over a million dollars by year 2030.
If I'm right? This would be a BIG f***ing deal to anyone who knew it. They would guard the secret as anyone who learns it would become a billionaire by 2030.
This is what I present to you.
Bitcoin has never made bearish divergence on the monthly chart like this. It has made those 3 rising peaks with subsequent bearish divergences each time. From the bottom to the top of the market... all of the prices line up with fibonacci values. Whenever markets make this pattern on regular timeframes... they make .618 retraces.
So...
Could we be entering a great depression?
Could there be the biggest stock market crash in united states history coming up? Because if bitcoin does this... the stock market does something similar.
Could this really be the great depression #2? Well, technically #3. We had one in 1819 also.
Anyways. I just wanted to put this out there. You all think bitcoin will go up forever. You think it will never go below previous alltime high.
I'm here to tell you that stuff can change. Just because it always has done something... it does not mean it won't do something different in the future.
I think something huge is coming. Something earth shattering. Something life changing. Something unbelievable. The ultimate black swan event. Something no one alive has ever experienced.
And I think it finishes happening in October/November 2022. (we'll probably have a few crashes to go down that low. I doubt it will be one crash)
What i believe you were thinking of is: 3 drives to a high. Yes this corrective wave for the pump we've had these past few months looks a lot like the distribution we had at ATH's. Once we rejected at the .618 on the daily chart, i knew this market was toast. But lowest i've seen possible (last i really looked months ago), in my estimation would be $9500. That may have changed now because its been some time since i checked, perhaps i'll look at that again now.
But for the rest of what you wrote, i think & have thought for the past few months that we'll be going into a redistribution phase. Whatever 'black swan' event or news story the market makers want to sell it with, doesn't really matter. Today it was the China FUD, the other day it was Evergrande. None of that bs is what caused BTC to go down. Its as if its all preprogrammed in the charts because everything is rolling over.
The last bastion for the bulls is that we havent dipped below certain MA's but imho thats because retail is still 'buying the dips'. Once they run out of money or get exhausted, then they'll capitulate & this corrective wave C will really kick off. Thanks for sharing!
UnknownUnicorn4285265
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@Crypto-Fury ah 3 drives. thanks for that it was driving me nuts thinking of the name. Were you thinking 9500 because of the volume profile point of control showing 9500 as the highest volume node for this bullrun? that made me consider 9500 too.
I saw someone say it was a cme gap too... but I don't get too into gaps personally.
Gunslinger2005
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LOLOLLOLOL. 40 dollars? lmfao. go ahead and calculate your pnl little guy. have your dreams. rofl
You are smoking crack dude lol. Bitcoin will never hit 4 digits again, let alone 3 digits. Also the US is printing money and will continue to do so, Biden is not going to want an economic depression during his first term in office.
UnknownUnicorn4285265
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@theshawon, let me ask you a question. Do you know what bearish divergence is? Do you? And do you know that the monthly is more powerful than the weekly? And the weekly is strong as F by itself when it happens?
I base what I say on technical analysis. Argue against my divergence. Don't tell me i'm wrong because you "feel" a certain way.
Every part of why I said what I said is classic technical analysis stuff. Nothing was outside the normal. Other than you feeling it can't happen. Argue against my technicals. You can't. (trust me, I understand how crazy this sounds.)
But for the rest of what you wrote, i think & have thought for the past few months that we'll be going into a redistribution phase. Whatever 'black swan' event or news story the market makers want to sell it with, doesn't really matter. Today it was the China FUD, the other day it was Evergrande. None of that bs is what caused BTC to go down. Its as if its all preprogrammed in the charts because everything is rolling over.
The last bastion for the bulls is that we havent dipped below certain MA's but imho thats because retail is still 'buying the dips'. Once they run out of money or get exhausted, then they'll capitulate & this corrective wave C will really kick off. Thanks for sharing!