Undeniable proof that I am single handedly manipulating the Bitcoin (and other crypto) markets through simple chart telepathy. It appears that I make a chart with predictions of what I think is most likely to happen with the price of Bitcoin and Bitcoin listens to me. WOW! I saw patterns that others didn't. I predicted patterns that had not yet formed. Well, they formed, and were confirmed.
Let's get into an updated analysis on Bitcoin. Looking at the 4hr chart - it is the same that I posted last night, just changed the colors around a bit because I'm slightly color blind and the new candle colors help me differentiate a little better. For all those out there color blind for green and red, this charts for you. Anyways, before you read this, please see my chart from last night so I don't have to re-explain all the work I did then.
You can see that my prediction of a head and shoulders pattern that had not yet formed a right shoulder... formed a right shoulder and confirmed below the neckline... this happened a little quicker than I expected, but the target still remains right around the same target of the much larger head and shoulders pattern, which is at the 78.6 retrace around 7250. When I find patterns within patterns that predict the same targets, I get fascinated. It doesn't mean this is definitely going to happen, but it does increase my confidence that it's a strong possibility.
The Double Top I predicted that would be confirmed was confirmed. I don't put a ton of weight into targets from a double top or double bottom, but if I did, the target for this would be slightly below the 78.6 retrace, let's call it a 6650-6800 resistance zone. A breakdown below both of these areas means a very likely retest of the February lows around $6k.
If we were to turn back up from the 78.6 retrace and gain some bullish momentum again there is still a huge inverse head and shoulders pattern that would be in play, technically speaking, this pattern is not invalidated until price reaches the low of the head, which would be the February low.
Hope you guys enjoy my analysis and please like, comment, follow, share, tell your friends, etc. Have a great day and/or night!
Let's get into an updated analysis on Bitcoin. Looking at the 4hr chart - it is the same that I posted last night, just changed the colors around a bit because I'm slightly color blind and the new candle colors help me differentiate a little better. For all those out there color blind for green and red, this charts for you. Anyways, before you read this, please see my chart from last night so I don't have to re-explain all the work I did then.
You can see that my prediction of a head and shoulders pattern that had not yet formed a right shoulder... formed a right shoulder and confirmed below the neckline... this happened a little quicker than I expected, but the target still remains right around the same target of the much larger head and shoulders pattern, which is at the 78.6 retrace around 7250. When I find patterns within patterns that predict the same targets, I get fascinated. It doesn't mean this is definitely going to happen, but it does increase my confidence that it's a strong possibility.
The Double Top I predicted that would be confirmed was confirmed. I don't put a ton of weight into targets from a double top or double bottom, but if I did, the target for this would be slightly below the 78.6 retrace, let's call it a 6650-6800 resistance zone. A breakdown below both of these areas means a very likely retest of the February lows around $6k.
If we were to turn back up from the 78.6 retrace and gain some bullish momentum again there is still a huge inverse head and shoulders pattern that would be in play, technically speaking, this pattern is not invalidated until price reaches the low of the head, which would be the February low.
Hope you guys enjoy my analysis and please like, comment, follow, share, tell your friends, etc. Have a great day and/or night!
