D4rkEnergY is back with a follow up on his bold prediction from yesterday, where he predicted that Bitcoin would reach 15,000 USD before April. Let me just say, that so far everything goes according to the plan.
D4 has illustrated all the Elliott Wave counts for you. The Primary, sub-waves AND the sub-sub-waves. So far we had a bit more than a 50 % Fibonacci Retracement of the whole Elliot Subwave-Cycle, which now has become the 1st Primary EW!
Everything is good, so far. And we now have a perfect opportunity to make a reversal, and go along with our EW3. If we don't manage to kick start this Wave and instead go lower, I have drawn how low we can allow our self to go before, this scenario will be unlikely or fail.
If we go to around 61,8 %, the green box (10,200 USD), the retracement would still be perfectly healthy, and our scenario is still in play!
If we go under this level (the yellow box) it would still be a healthy retracement according to Elliott Wave Theory, BUT seen from a psychological point of view, it would NOT be optimal, since it under these circumstances would bring too much FUD in the market. And therefore would D4s scenario be more unlikely to play out.
And finally. If we go down to the Red Box (9,200 USD) we would have an Elliott Wave Failure, and this scenario is COMPLETELY dead.
D4 has seen that a lot of people out there suddenly became bearish from one day to another, because we saw a price drop. That is human nature, but we have to look at this in a broader picture, which still make me bullish on BTC!
If D4 is wrong in this scenario, I will be the first to admit it!! Remember:
It's not how we make mistakes, but how we correct them that defines us!
D4 loves you ALL <3
PS. I will fly back to our HQ in Seoul tonight, and make everything ready to Wednesday the 14th. The Setup is soon ready for you guys, so we finally can have this crazy party we all are looking forward too. I have now got more than 700 messages in my mail and inbox. Sorry, but I cannot answer all of them. Please be patient. I promise when the setup is ready everything will be good :) Remember to HIT that LIKE-button :)
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BTC dropped from 10,650 to 10,100 USD in no time. Directly through key support at 10,200 61,8 %. D4 has to admit, that he didn't saw that coming.
FUD is in the air!
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So we now know what caused this crazy fall in price. Rumors on Reddit and the hack on Binance were the reason. As I said, I will be the first to admit if my prediction was wrong, but of course no one can predict FA stuff like this will happen.
This hack has created a lot of fear, uncertainty and disbelief (FUD). A bear flag has now also been created, and we might go even lower.
The scenarios is in principle still in play since we haven't had a EW failure yet, but it's obviously quite likely anymore.
Thank you guys for your love and support here in the comment and on PM <3
Love you all! Please give a like for more updates :)
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Here is the update! INTENSE PRICE DROP! What Happened to Bitcoin? And Now What?
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Sorry. Here is the link:
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Sorry guys, I was banned for 24 hours, so I couldn't publish charts or answer
From 6k to 11,8k was an impulse and after an impulse there is a correction to confirm the continuation of the trend. What we see now is wave C (expected), since wave B didn't tag the top (11,8k) we may be dealing with running flat which means we could go lower than 9,28k. I may be wrong but for now nothing has changed in the structure that would suggest otherwise. EW theory is not just about counting waves but most of the time is about identifying the structure. News or no news the fall was expected.
BullishAbandonedBaby
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"Rumors on Reddit and the hack on Binance were the reason."
Definitely not. It was pretty obvious that BTC will fall to 6k even month ago. Only tothemooners who bought for 16000/BTC were disagreed with that.
Binance 3rd party trading API hack has resulted in many people losing money just now. Also SEC subpoena news and Japanese authorities considering suspending some Japanese exchanges.
Not to mention the new 'tether 2.0' called True USD or TrueCoin released on Bittrex yesterday. Whenever any such 'stable' coin comes, I have noticed markets start to fall to raise the price of the 'stable coin', and then the same coin pumps BTc to the moon.
Overall still long term bullish, but for now short term to medium term bear wave. Everything is an opportunity. Just play it right....
regalia
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This isnt FUD. The market is acting perfectly to what the charts say.
9.4k was an easy easy number to see if u studied the previous rejection of the break out.
UnknownUnicorn1714327
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Never listen to a permabull
rlreecer
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gonna need to xpand the chart
cryptopaatje
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And now what?
For that look at my charts! Then you will know!
houseofari
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I really like how you take into account the psychological factor. Especially with all these weak hands in play, emotions are important. I think this trade idea is the most accurate, succinct but yet complete idea about BTC on tradingview. I have checked out every trader on this site and tracked their successes and failures, but I think you are in the top three best BTC traders when it comes to accuracy and actually the number one when it comes to frequent updates. There are traders who will send out an idea and even if it fails will somehow say, "I told you this could happen, so I'm still right," but you tell us clearly what you think, warn us about the opposing view and the likelihood of every scenario and indicators, and you admit it when you're wrong. Very good. Two points of feedback: 1. I showed a beginner friend this idea and he didn't understand. He didn't understand the targets and the stop-losses and all that. I told him that's a sucker's game, because multiple scenarios could play out and "does he want targets for every scenario?" But I do understand him. Some beginners might want clearer strategy. 2. I like it when you make it visual and I really don't care if you're "violating the laws of ethics" or whatever. This isn't a kids game. Eff the haters. Hell, make it more absurd. The more perverse it is, the more it will stick in our minds. That's a tip for all the students out there by the way. The more perverse and violent an image is, the better you'll remember. So, please D4rk, keep rubbing those trade ideas all over our faces and shower us with that gold!