Chart : https://www.tradingview.com/chart/BTCUSD/5Tp9wQGE-Bitcoin-long-term-projection/
Online private technical analysis : https://www.goprofitmax.com/private-technical-analysis
Hi, welcome to our daily technical analysis video,
Today i wanna discuss about bitcoin,
especially for long term projection.
At today analysis, i wanna share about bubble phases, and how we detect it,
especially for the end of bubble from technical analysis view at BTCUSD.
We will discuss deep about bubble at www.goprofitmax.com trading class,
i put link at description below.
to analyze bitcoin chart,
lets back to previous bubble at BTCUSD at 2014
In 2014, bubble perform bearish wave and force bitcoin down to 86%
and bearish at BTCUSD perform for more than 1 year or 414 days.
At today video, i wanna explain about bubble end phases at Bitcoin
First, you have to find meanline.
Meanline is the very last diagonal support, there is no other diagonal support below meanline.
After we draw meanline at bitcoin chart, we have to find previous falling wedge.
this is important, coz bubble always create this pattern.
Falling wedge is the most danger pattern for all cryptocurrencies,
coz only meanline can stop this pattern,
buy any coin inside fallign wedge is danger, unless u already have your meanline.
Here we have our falling wedge pattern at bitcoin.
Bubble end with 2 condition :
first Falling wedge break up
as you can see here falling wedge already break up at bitcoin,
and second condition is :
After falling wedge break up, meanline will re-touch again, sometimes it break down a little bit.
this is bubble end moment for bitcoin.
So if you see falling wedge already break up, and meanline already re-touch
it mean prepare for bullish.
With fibonacci time, we can calculate double top resistance as our first profit target at bitcoin.
ussualy, double top resistance reach at cyclic 3 in fibonacci time zone, and it will break up to create new high.
So, the most important at bubble phases is falling wedge break up, and meanline re-touch.
Now lets split this screen and focus to today bitcoin chart
At december last year, bubble start at bitcoin, and create bearish wave and force bitcoin drop to 70%
To analyze when bubble will end,
first we have to find our meanline
I will teach more about meanline at our trading class,
Here we already have our meanline.
So next step is draw falling wedge
As you can see this resistance line here,
and we also have support line here, this resistance and support perform falling wedge pattern.
And lucky for us this pattern already break up.
At April 12, we also post break up moment at BTCUSD as private analysis, and share it only at telegram channel.
and we also post many private chart for other coin base on member request,
this analysis is membership access only.
YOu can get more information about our membership at www.goprofitmax.com
now lets back to our bitcoin chart
After falling wedge break up,
you can see meanline touch again here
this is end of bubble phase for bitcoin.
After meanline touch, bitcoin will perform bullish wave, and break up double top pattern
So we have to find estimated time to reach and break double top pattern with
we can see double top break up at cyclic 3 at 2014 bubble.
So we can analyze and calculate when we gonna reach and break up $20000 for BTCUSD.
Here we have 334 days estimated time to reach double top again from meanline touch today
or around july 2019.
History may repeat itself
Will bitcoin rise again?
dont forget to share this video at your social media to help bitcoin rise again,
coz more bitcoin buyer, more bullish it will be.
See u at next analysis,