This weekly chart I designed on March 24 and BTC follows it perfectly so far. BTC is sitting at the top of the inflection area with approximately even chances for bulls and bears. While there are bullish signs, the bearish ones continue to accumulate. Let’s discuss the perspectives from various angles.
The previous weekly candle was a High Wave doji. The candle normally signals indecision and requires a confirmation for either side. This week BTC mostly traded in the same range as the previous week and in the end the candle was not able to confirm the path. The decision is expected next week.
This is the quote from the last week analysis:
“On Saturday Sep 4:
– close below $46360, downtrend confirmed.
– close above $50500, rally continues
– anything between, the decision is postponed to the following week.”
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Previous Monthly Analysis:
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This is the condensed Track Record of our most recent #crypto calls:
- $BTC – March 24 – call for imminent reversal, target $29000!
This happened when $BTC was $52k and approaching the top, when the experts were calling for $100k and $150k next.
- $ETH – May 16 – call for strong decline, target $1700!
This happened at the beginning of the decline when $ETH ws $3600 and everyone was saying it was a minor blip.
- $BTC, $ETH, $ADA, $LTC – July 21 – call on Bottom
This happened on the day the cryptos formed a strong reversal combo and started rallying.
- $BTC – July 24 – call on the 10 consecutive green days
This happened on the 4th day of the rally once we recognized a special pattern.
- $BTC – Aug 18 – call on Bottom
This happened within minutes after the bottom, at 9:45 pm PST, when $BTC was $44250. It has rallied 10+% after the call.