Chugga, Chugga... Bitcoin
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Within the chart I have two fractal patterns, which are placed inside of phase two (turquoise boxes) within yellow ellipses. The two fractal patterns are taken from the first bullish leg of phase two, which is denoted by the green ellipses. As you can see within the first yellow ellipse, the fractal pattern lines up very well, and same for the second yellow ellipse. Just a coincidence? I don't think so. It makes total sense that these fractals line up like this because they are literally the same pattern, but with the application of logarithmic decay (lengthening cycles and diminishing returns) over time. As long as the world doesn't collapse or Bitcoin isn't heavily, unnaturally manipulated, then I do not see Bitcoin ultimately going down. We could possibly see some more short-term downside in the form of a flash crash, but other than that I believe bright, blue skies are ahead; realistically, the downside we have most recently gone through was the last downside for phase two. I don't really see bitcoin going to/below the current 1.272 fib retracement ever again, and I personally think it will be going up from here. During the previous phase two Bitcoin step laddered, in terms of support levels, from the 1.272 to 1.414 before taking a moon shot... this is also what Bitcoin has been doing since April of 2021, again because they are literally the exact same pattern. Phase two originally bottoms on the 1.272, subsequently rising to the 1.618, then lastly finding a bottom on the 1.414 before climbing to the next all time high, and our current phase two has just recently completed this retracement with this most recent downside. Anything can happen and Bitcoin could tank at any moment, or it could begin forming a new inherent pattern from now on, but, in all honesty, if either of those outcomes come to be my jaw, out of utter shock, will have tanked far lower than Bitcoin did. Right down to ground zero, my jaw will be. My price target range for this coming high is ~150k to ~500k, but according to the fib retracement pattern, and not just for phase two but for all of the phases, the high is in the range of the 2.272 to 2.414, which is ~200k to ~300k. I say a maximum of ~500k just in case there is insane amounts of FOMO that push Bitcoin's boundaries because with how much more cryptocurrency, in general, has garnered much more attention and adoption recently, that could very well be a possibility. Finally, I have placed two fib-spiral channels on our most recent phase one (white boxes), and. as usual, the spirals whip around very, very nicely.
Still image of chart:
Below is an image of our most recent phase three fractal (pink boxes) imposed over the entirety of phase one plus phase two, and take note that our current time is in exact alignment with the top of said phase three fractal:
Still image of chart:
Below is an image of our most recent phase three fractal (pink boxes) imposed over the entirety of phase one plus phase two, and take note that our current time is in exact alignment with the top of said phase three fractal:
Not
Reading the related ideas and their related ideas not present on this post will be very beneficial to grasping my grand picture.Not
As the market is looking rather bloody today, the worst case scenario could be a drop down to ~33k. I doubt it will break back below the 1.272, or retest the low of 28k, and if it does so I would have to imagine that that would be the nail in the coffin. I still fully expect a reversal towards the end of this month extending into February… but we will see.Not
Ultimately the nail in the coffin is closing a daily candle below 28k, but I’d assume there will be an indications before that drop occurs, unless it drops straight down to that price range.
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