Bitcoin pump thoughts
I will start with the brutal shake out of Bitcoin back in 2013.Exactly on 22.03.2013.
Now lets see what ltc was doing meanwhile.
ltc was pulling off a rock back then.
It was literally ‘dumping’.
Now i drew a fib from the bottom to the top of the shakeout which i highlighted in the first post. This is a weekly chart. Bitcoin tops at 3.4 3.6 fibo.
Now lets pay attention to the 1.6 fibo.BTC crosses 1.6 fibo on 04.01.2013.Now take litecoin.
On this same week litecoin started its dildoing.
Now lets move on to the next mark up of bitcoin that happened on late 2013. Let us start with that ‘brutal shakeout’ of bitcoin.
It is here. I have marked along with the date.That was on 10 November 2013.And lets now switch to litecoin. What was it doing?
It was pulling a fuking rock. I have marked the date with the crosshair.
Now i am drawing a fibo from the bottom to the top of the shakeout.
You can see bitcoin tops out at 3.4, 3.6 fibo.
Now lets go to the fibo 1.6.
Bitcoin crossed the 1.6 fibo on 18 november 2013.
On the same week, Litecoin dildoes.
Based on these we can figure out the big crypto collapse that happened recently was just a shakeout.A big price run up is soon coming up.IMHO the history will repeat.
If this pattern is gonna recur, this bubble in march — april 2013 more likely with a bigger one coming after months.10k is definite. Alt pumps are definite. With this observation, we can speculate on possible bitcoin target plus can time on when alts might really start the ramp up.
Update on 29.08.2017:
The picture is pretty clear now. Key levels being highlighted are 3.6 fib and 1.6 fib.
USD/BTC CHART (Exchange: Bitstamp) Indicators used: Volume (true, 20) - Interval: W. Published on Coinigy.com @2017-08…www.coinigy.co
The major shakeout we had was at around that sky blue box (segwit drama).So I did draw a fib from bottom to the top of the shakeout.Now we are inching closer to the 1.6 fib area. As it has been already mentioned before, once bitcoin crosses 1.6 fib a major alt rally can happen. Deadcats and fresh pumps can be expected.And we now have a clear idea about the top too. It was always been 3.6 fib extension historically. So i will assume we will be hitting 3.6 this time too.
USD/BTC CHART (Exchange: Bitstamp) Indicators used: Volume (true, 20) - Interval: W. Published on Coinigy.com @2017-08…www.coinigy.com
There we have our moon.Coincides with 10k dreams.Might pull off a blow off top and can touch even 12k or even 17k. But a safe exit is at around 10k. Enjoy the ride boys.