On September 6 we called the top within minutes after the event. In the following 10 hours, $BTC dropped almost 20%. The chart of the call is above; this is the link to the post:
This call definitely goes to our Track Record.
This weekly chart above I designed on March 24 and BTC follows it perfectly so far. This week BTC made a strong bearish statement from the candles perspective and I would like to discuss the perspectives from various angles.
The previous few weekly candles were of Spinning Top type. This week bearish Engulfing closed below the last two and just a tad below the 8 EMA line. The odds are very bearish.
The indicators are pointing down and support further decline.
However, from candles perspective, an immediate decline in not mandatory. The coin could rest for 1-3 weeks before resuming the decline.
There are a few critical levels that need to be watched. They will be specified in the summary below.
Next: Daily candles, Elliott Waves forecast, targets, timing, and levels of awareness.
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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.
- $BTC – Sep 6 – call on Top
Within minutes after the top, at 10 pm PST, when $BTC was $52.5k. The next 10 hours it dropped to $42.1k, or 20%.