Schiff Pitchfork / bitcoin Bearish Gartley drops to $ 2,700 for BITSTAMP: BTCUSD by Chataylo
I talked about the reasons why I thought 65k was the top. Now let’s see how far it could go and when it could happen.
It’s a schiff . It’s Fibonacci on crack. It’s a double fib channel, basically. It separates the top and bottom of the in their own fib chain. The top being a bull market, the bottom being a bear market. We have been in a bull market since October 2013 since bitcoins . Every “bear market” that we have experienced was really just downtrends. You haven’t all seen a real bear market. The real bear market is when we’re in the lower half of that schiff .
I have used daily candles for it to go back 10 years. As you can see… bitcoins during the current bullrun peak is inside this upper channel.
As you can see… our rebound to 28K a few months ago? It was on this 2nd from the top row. Exactly on this line. This means that this line is valid. This means that this Schiff channel is real.
I think it’s entirely possible that we would bounce off that trendline again and do a daily candle close at, say, 32.5k around Oct 31 / Nov 1 … and bounce back to make the D of a about 57 / 59k. It makes a lot of sense to do this.
See the arrow pointing to March 2022 in the middle of the screen? This is where I think that first crash goes. The vertical line is mid-March. The middle line (the white dotted line) in the . X marks the spot. You can’t see it on the line chart… but it’s also monthly support. A little crazy that this is a monthly support.
After this crash I think we are doing a .618 retracement from $ 2700. Guess what a 0.618 retracement from $ 2700 is? That’s EXACTLY $ 19,800. Isn’t that amazing? It’s $ 19,800 exactly. As for the dollar exactly. It was our old top in 2017.
$ 100-150 bitcoins arrives in the fall of 2022. It’s the great depression. At least I think so.
$ 1 million bitcoins in 2030. At least I think so.
I am open to criticism but I really think this is what is happening.
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