This STRONG Theory Says Bitcoin's Headed To $5,000! – BTC/CRYPTOCURRENCY TRADING ANALYSIS

now that we've seen a little bit of a move up in the market I think it's okay to start talking about wider moves up in the macro trend obviously we are so sensitive to price action that just simply got from going you know from 124 up to you know 130 on a theory I'm going from 36 up to 3,800 on Bitcoin these very small price movements have allowed us to now be sociable socially acceptable if you want to talk about high range targets so in this video I want to cover a chart without a VIP member sent me which is this one now I'm gonna break it down each and every single aspect for you I'm gonna tell you what I think about it you know how likely these things are to play out to me and yeah it's a very very good one so let's get straight into it not waste any more time on this one and so the first thing that we need to cover our elliott wave patterns and you know this is something that i don't cover very much on my channel just because i haven't personally had much success using them i found them really difficult to use simply because they are incredibly subjective i'm going to show you why right now now the first thing about Elliot wave theory for those who don't know is that it says that when we're in a trend we're going to have five waves within the trend and that is going to complete the trend and usually Elliot waves like this are followed up by ABC correctional waves and these are also part of the Elliot wave theories so we might have wave a coming up to the previous resistance established at point four and then we might say retrace down to the bottom the support at point three and then perhaps all the way up to point two now one thing you've already noticed is that this pattern also forms an inverse head and shoulders and so this is really a concoction of all of the indicators or tools that I don't like to use it is simply because there's so much subjectivity to all of these things I can't even find it it's it doesn't even matter you know how invest head and shoulders work you know just paint it out for you real quick we get the head over there we get the eye sorry the shoulder the head and then the other shoulder and because we've tested a low one three times it we've had rejections at each of these three lows the idea is that we're gonna rock it on upwards very very subjective because we can draw these head and shoulders patterns everywhere and for the same thing with these correctional waves and regular Elliott Wave impulse waves we can draw them almost anywhere you know I can show you a quick little example over here if we go over to the impulse wave once again wave one down up to two and you know you could potentially draw wave three to this low and then way for up to this high and then wave five down does it really make sense I would say quite strongly no you know you could have chose this peak for way for you could have chosen this low for wave three this peak for way for you may have chosen this low for way five it's really really subjective where you draw these things and it's hard to say which one is correct that's why I don't like this tool in particular but this person who did share this chart with me does have a very very good shot going and that's why I am talking about it today guys I'm only filtering out the best patterns that I'm seeing out of everything that my ta producers are and of course what people send to me through telegram and Twitter and the like so this person's Elliott Wave starts from the top that we established over at 6k and this is where the downtrend started so we have wave one going down to what became the six-way it's support on this retracement I'm gonna talk to you about the fibonacci here as well very very interesting points there to be made it drops down to the first point and so this is wave one completed we retrace up to point two now I think this is fair it's still a little bit subjective you know it could have been that way one goes all the way down to this peak and then wave two goes up to sorry this low and wave two goes up to this peak perhaps wave three ends over here and wave four starts over here it could have been this way but again like I said I think this person drew it as accurately as it was possible and really it wasn't very easy so let's just go with it so we get waveone going like this up to 2 down to 3 wave 4 & 5 so it's actually quite accurate in terms of how these patterns should play out can i thicken this a little bit yes I can and so we can see this a little bit clearer and now now typically what we're gonna have is a pretty nasty drop on wave 1 followed by a shallow recovery on wave 2 usually nothing very very interesting now you will have noticed this with the kind of demo that I showed you back over here where wave 2 actually I didn't do this correctly wave 2 will be a shallow what's the word I cut a shallow correction to the upside and then it will be followed by a much nastier drop in wave 3 you can see with this drop that wave 1 was pretty bad but wave 3 was way worse so this works and so we've got wave 4 wave 4 is the stronger pull back to the upside but still obviously not ending the trend and then we have wave 5 I think this is pretty fair I don't think it could have been drawn any better than this now moving over we have the ABC correctional wave and this is much the same up to wave A to B and then to C which would be around sorry I've massively overshot that which will be around about here now we've plotted the Elliott Wave in both cases here the impulse wave and the correctional wave now we are still on the trajectory for this ABC correctional wave if we look at how this trend has been playing out we are paying attention to be much more macro moves so using the daily chart does make a little bit more sense for this example and we can see that the overall trend even though we have been a little bit shaky when we ended up testing support twice at times that perhaps we shouldn't have this overall short term uptrend is intact I told you this in my last video where I thought that even though you know I mean we've been we've been quite hesitant and if we're going to count this low as the uptrend support for the short term uptrend we have very much breached it and I showed you that that would have been a valid conclusion to draw because this is the only way you can draw horizontal support in this trend so it could be the case that we've now set a lower low over here but let's ignore it that's in this case only pay attention to evidence that's convenient and by the way that is how the majority of people use things like Elliot waves and that's why I don't like to use them but it's still valid and so we have a nice move up wave Elia is very clear what if B is very clear as well there's very little ambiguity in this case wave see a little bit shaky but it can still work and so we're looking at a move to the upside now let's draw our Fibonacci on and this part is very very important we're gonna be looking at how the Fibonacci retracement or Fibonacci retracements is going from the bottom to the top of the trend this way if we hide all of these okay that was stupid if we kind of zoom into the Fibonacci here we can see that I drew this from the bottom to the top of the trend and we tree traced down to the six one eight level so within this trend we move down let's get a paintbrush out real quick within this trend we move down to the six one eighth level and so this was a sixty one point eight correction 61.8% correction of the move to the upside that means if this was a ten centimeter long car we would have cut this car by six point one eight centimeters yeah and and that would leave us with a three point eight two centimeter long car no idea where that came from but let's just roll with it hair roll whether that was a good pun I'm an idiot okay let's move on so we've got the Fibonacci retracement done there I've shown you how I like to draw it but this is where we're retracing from a downtrend in this or rather from an uptrend now in this case we're actually retracing from the upside and so drawing this Fibonacci is also a little bit subjective but I'm gonna go with the same height that this person drew it at and so we can draw a Fibonacci from this peak and right down to the bottom and what we quite magically see is that the six one eight level in this case now bearing in mind this is retracing from downwards to the upside in this case the car has gone longer by six point one eight centimeters don't ask me how and so who you retrace by 61.8% of that rally to the downside we retrace upward it lines up amazingly amazingly with where we hit a temporary low during our second capitulation event and then when these waves see corrections we typically have prices hitting the 1.68 line I mean there should be the one point six eight nine it's 0.618 because of how I drawn it but we typically see the wave see wave going up to the six one eight level now here's where the rest of analysis comes in because you guys know I've been talking to you about the possibilities of seeing the four thousand dollar range since we will weigh down over here I was calling for a rise back at this level telling you that I thought we'd end up hitting the four thousand dollar level and also when we were down over here so this one was a pretty nice cool this is one of the messages that I got from a VIP member who mentioned that he'd I mean this was from yesterday or something mentioned that he felt like a kid in a candy store going through the VIP library guys the VIP library is where I put in every single historic VIP video the VIP videos are a complete next-level to the analysis that you're seeing in these videos it is all exclusive content and it's all backed up and stored right there for your immense viewing pleasure if you want to get in on VIP hit up the first link in the description down below it's free there's no signup process it'll take you less than 30 seconds to get in and then click on the app for flies at the bottom of any post and send me a message ask me out to join VIP while we're on the topic of this actually I want to shout out my Twitter page and specifically this I tweet too much where is this this post are just lost there it is which if you have retweeted you have a chance at winning a free membership with VIP and of course if you're a current member and you retweet this you will get paid back the fee that you paid when joining so well for one month if you joined along if you join on longer than that and so if you want a chance of winning the VIP membership for free go ahead and retweet this tweet it's gonna be in the description the second link in the description on that retweet this post shoot me a follow like the post as well that's how you'll get entered it will be chosen randomly and yeah good luck to you if you have done that of course if you do join VIP after you do this you still have the chances of getting a refund for one month so pretty cool there if you want to be like this guy and enjoy all the amazing content you know where to find it now back to Bitcoin watch on is this okay right back to Bitcoin if we look at zoom out onto the six well eight level it lines up perfectly with where we previously bottomed out and if we throw on the Ichi moku cloud now looking at the daily it also lines up very nicely with where we have resistance I've been talking to you a lot about how if the bottom of the cloud isn't rejected I mean doesn't reject price action and if the and if we're trading within the cloud we have a better chance of getting rejected at the top of the cloud we can see this where we would reject it at the bottom of the cloud over here the bottom of the cloud over here nearly the top over here this is just how the Ichimoku cloud typically acts and so it lines up really nicely as well we have Ichimoku we have each America resistance right now it is running out by the way it'll only be valid for about the next week less than that now but we do have resistance that runs us up to a price of 4900 and of course this are the the real TI here this wave see and about the five thousand dollar level I'm guessing this is about 5150 but it's the same relative zone and so it lines up really really well if we want to again only pay attention to analysis that fits in with our own theories and what's convenient to us this is a perfect example of where the Ichi mo crew lines up nicely with resistance which lines up nicely with the wave see correction which lines up nicely with the six one eight resistance and it lightens up nicely with where we initially bottomed out for a short while during this capitulation event it's still it's still mind-blowing to me that when we were down here people for we bottomed out by the way I mean this was insane I was telling you guys that if we did draw from 6k we would be going way down into the $4,000 range at least and potentially into the 3000 why anyone thought it would stop over here is way beyond me but you know I think it is quite clear obviously if we just take some more high insight analysis on this we only consolidated at this range for about four days and then the dump continued so you know even though we did kind of float around at this range there was so much bearish pressure that actually the majority of the market knew we were going down so if you thought we would have bottomed doubt over here you were actually in the minority in this case and that's an example where being in the majority for the market can actually be very profitable it's just about making sure that you're in that majority before everyone else so that way you can profit from it but anyway that's a completely different video altogether I've broken down for you this Elliot wave impulse theory with the ABC correction to the upside it still looks likely to me with the Ichimoku resistance lining up very nicely over here and of course because we have had a slight uptick in price action over the past kind of 48 hours that is kind of renewing a little bit of hope that we could rise on higher now for some more short-term analysis really you know we look at the actual Bitcoin chart at the moment with the resistance line lines on this chart you know we we've hit relative resistance over here that I don't have a line for this but you know on aetherium for example we have exactly hit resistance obviously aetherium is gonna rise a little bit better than Bitcoin and of course full better than Bitcoin so that's why we have had a lot of fun trading that in VIP this guy will probably be enjoying some of those gains hopefully in the coming days and weeks so very excited for that seeing as though we did top out at resistance over here and we have established an area of resistance right here right at the current level for Bitcoin it does look embarrass now the final note I want to make is with regards to the actual six one eight level and I can't believe I didn't say this already but it goes without saying that the six one eight level is usually magnetic to price action we have either that three a two level or the six one eight level that typically see the most love from price action especially in crypto that's why I like to say that they are magnetic to price action and of course we have heavy resistance at the 382 level this is right at the $4,400 resistance area so that's the resistance that we established as support and also resistance yet during this capitulation event and so that is going to be a little bit nasty to break and seeing as though we are struggling a lot with 4.2 K you know if we could break 4.2 I don't know we could end up topping out at 4.4 like I said it does lineup with a little bit of pre-existing resistance on the fibonacci but if this has breached the other really valid thing to point out is that beyond this level there's no resistance on this chart until we hit the $5,000 range and in fact until we hit 5500 there is basically no resistance beyond this three a two levels so the six one eight level really does look quite magnetic that's hard to say the six one eight level really does look quite magnetic to price action and so in this case it is just gonna be a case of waiting to see how this more macro trend plays out so that's a breakdown of this chart let me know if you have enjoyed this video and of course do make sure to hit up the second link in the description down below and retweet this little tweet over here and then click on follow and also like the post to be entered in the giveaway thank you very much

24 thoughts on “This STRONG Theory Says Bitcoin's Headed To $5,000! – BTC/CRYPTOCURRENCY TRADING ANALYSIS”

  1. Winning trades depends on who you invest with,Mrs Allison wins of 9 out of 10 trades daily,also with over 90% accurate trading signals she makes me Good profits..

  2. Is this not the same guy who said Bitcoin was not going anywhere but down? I know you don't get married to positions but this guy was almost saying he could bet his life Bitcoin was going to $1200

  3. Elliot waves are important to consider but it’s not valuable at all to not do the in depth research bc it is most certainly not subjective and your waves up don’t follow the rules, wave 3 is generally never the smallest either.

  4. Just look at the weekly Stoc. RSI. This is the biggest wave of all waves coming up in the next few weeks.

  5. Nice Video!! Hello everyone, Bitcoin is currently my most favorite thing and i completely love the technology behind it out of which has spewed several other coins. I know its quite unclear for many how lucrative bitcoin is currently as most people have lost several thousands of dollars already in holding their coins. In my case, i have earned thousands by following a less talked about approach which is trading. Trading is less affected by the speculative and unpredictable nature of cryptocurrency and with the right techniques and expertise, you can easily earn so much when others are actually making loses in an unstable market. There are several ways to make consistent profit but the safest and easiest from my personal experience would be using the guidance, signals and already proven trade strategies of a successful trader. Quite a few of them but my favorite would always remain Charles Robert. I was able to easily triple my portfolio in just 3 weeks of trading with him. It would be only fair for me not to hide such a gem in the space. You can reach him via: charlesrobert4242 @ gmailcom and ask him pretty much anything about trading and how he can help you become a better and more profitable trading of cryptocurrency. The best part of it all is his system is really easy to implement and i have learnt a lot already from him.

  6. WOW and to think people are paying you for this WTF…..You clearly have no understanding of EW so HOW can you teach this to others …..this is like a playschool lesson meets an inexperienced EW trader

  7. Actually embarrassing, you said in your last video that you are "a bloody amazing analyst" but don't know how to use Elliot Wave. There are obviously rules so that you can't just draw Waves out of nowhere. Pretty crazy that one of your members pays for your VIP stuff but has better knowledge and identified the situation we are currently in instead of you helping him.

  8. "This STRONG Theory Says…" – sounds impressive! No less impressive than a STRONG cards divination. However, need to be prepared to any events including bullrun. For this purpose we hoard bitcoin, we are involved in new airdrop projects like x-cash or GPTCash. A great future was predicted for them, too 🙂

  9. Your (and persons you sharing) Elliot Waves analysis is full of shit. I mean seriously, just stop talking / sharing about topics you have no idea at all.

  10. You are a Legend!!! A Child Genius!!! But the EW seems like hopium!!!! Going to break down and dump to $2K soon!!!

  11. Sami. Love your analysis. But there's rules to eliot wave and that did not follow them. Few of them..2must not retrace 100% of 1. 3 must pass 1. But 4 canot retrace into 1. 5 does not have to pass 3. 3never longest. Also in a zig zag correction B is never 5waves.. so a 535 formation

  12. agree with most of the comments here, EW theory was correct but execution wrong. There is another pattern in play and that is time since the last 60 day cycle low, we have just had the 60 day cycle high so going up again above that high within this current cycle is a very low probability, unless the overall market cycle changes, from bear to bull, and that would tell us that the low for BTC is in, which I do not believe to be the case.

  13. Enjoyed the content, thanks for making it. I'm one of those "EW" guys. Just wanted to write a long comment to give some EW insight as to why so many people call it bs and so many people swear by it. Elliott waves are like shooting rifles, throwing a punch in karate or spiking a volley ball. Anyone can do it, but there is a way to "do it right" and a way "to do it wrong." In order for optimal results, optimal form is required. Any pro shooter, black belt or Olympic volleyball player can tell you… executing on their craft requires extremely technical, extremely exact nuances that give them an edge that makes them better than the rest. To the average guy, it just looks like he's shooting a gun, punching a board, or spiking a volleyball. We know they're really good, but we couldn't tell you why they're really good. Elliot waves is no different.

    There's very little subjectivity in EW. There's just a lot of people who don't know all the rules and thus come up with all kinds of crazy, subjective counts. Basically, no matter how someone wants to draw the count, there are only valid and invalid counts based on a very lengthy set of rules and guidelines. From a valid count you can take other things into account and assign a count a probability. From there you can make plays. Its not subjective, just ridiculously complex. When a person doesn't understand the complexity they have to resort to subjectivity, just like if we jumped on the shooting range we would just simply point and shoot. That's where the subjectivity come in. People just do it the only way they know how, even though its incorrect from a technical perspective. Ok all my EW peeps. hopefully I explained it well enough so we don't all have to collectively nerd out on him =) Thanks forflies. It's all good. I know this is not your style. Be well.

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