BTC today formed a monstrous bearish engulfing and today I share an extended analysis that includes a Long Term Forecast.
The reversal was perfectly caught in one hour after the character of wave changed. This one definitely goes to the Track Record. I rarely use word “must” in my analysis, but yesterday I wrote: “There must be a red day tomorrow.”
Let’s have a look at the candles and the waves. What do they tell us today?
Today’s Engulfing entirely engulfed 7! previous candles. Quite a message.
It was also smart enough to not close below the BB and not to make a reversal candle.
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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.