With 90% certitude, i can say BTC is ending the bearish run. Following this pathway would be the garantee of a new trend and reversal.
If BTC goes directly for 10K and fail, we might see mid 6k lvls. But if BTC follow the count on my chart, its a garantedd bullish run with a reversal point near 7500-7750.
I know that calling a reversal before it happens is a big thing and if it doesnt follow this call my credibility might take a hit. But at some point, there is things that doesnt lie and objectively there are details in the chart that speak for themselves.
So here i share with you, what i see and what i understand. You do the rest.
MACD 4h making expected form (compare this chart with the post chart), price had been lower than expected but others indicators reacts accordingly to market projection.
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Wick formed but at lower values than expected. for now i see this :
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i will completely rework this post count with thye new data. normally i have the target right and not the form.
But on this one i have projected the form better than the target. Study the errors and be better.
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hmm in fact i had the target (6k )with this chart (made on the january 31st) :
Bounced at last stronghold, wicked formed. ABCDE completed. Huge buy volume. Everything is here : end of the correction. BTC reversal CONFIRMED
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2nd target reached !
Will make a new post with new target :)
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BTC JUST BROKE THE OLD SUPPORT LINE !!!! THIS BULLISH AF AND JUST CONFIRMED THE COUNT ! BACK TO THE OLD ATH !!
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7700 to 7400 is a crucial support
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New target :
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Target almost reached. Will make a fresh new post because we starting to have too much update and some people might find hard to follow !
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On the way to reach 10.4k.
If you did like my work, follow ! I will make a fresh post once properly target is reached
Yup agree buying BTC.. I am highly bullish on BTC ...
djtreacy
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HAhahahaha love it @ bullish af!
diegoalonso
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thanks so much Simon, great work !!!
UnknownUnicorn1540828
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@diegoalonso, thank you ! you are welcome, just putted the piece of the puzzle together :)
RabbitsFriend
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I think BTC is over in long term, few months after it loses dominance, coins with potential will slowly rise up. Probably we will never see new ATH on BTC, Discovery channel can starts making movie about people that lost their life's savings :) Im glad I didnt say that in 2013. Check out my 24-48h prediction
UnknownUnicorn1540828
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@RabbitsFriend, thanks for your interest in my works ! i love people adding their point of view. But my count is invalid only if we touche 10k and fail. My count would still work with a wave 1 ending at your target then going down.
my count show an expected bull wick at 7750 lvl but would still be valid if it stop at trend support near 8k.
you have good trend analysis competence but you need to add more pattern recognition to build a solid projection. I tend to analyze more macro than your current chart.
time will tell who is right !
RabbitsFriend
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@simonmercier, Your long term analys is very good, looks more professional than my. I agree there is a high possibility that third wave will appear like in your chart but I think it will be a bull trap.
StanMils
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@RabbitsFriend, you post this at every "positive" TA for BTC.
RabbitsFriend
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@stanmail86, Sorry, I hope you arent feel offended
darkandblue
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Hi Simon, good work as always...i agree with your correction sentiment. However, i see alot of calls for a 2014 like corrcection, which would push the price to 16K and then down for long time.