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Thread: Bitcoin on the verge of a dump?

  1. #1
    Cool Dude
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    Bitcoin on the verge of a dump?

    I was expecting a further drop when the NYSE opened yesterday but it held steady after the earlier drop. Poised to buy if theres a major dump

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    H4XoR (28-11-2021)

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  4. #2
    Satpimps Stock Market Guru H4XoR's Avatar
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    BTC is coming close to hitting that valid green trend line that has been running from 21 July. If it breaks that support line, expect a major downtrend. However, if we get a bounce around the $51,971.90 USD level then expect another pump back up towards $68,783.03 USD. The RSI on the 1 day chart is at 39, showing it’s in oversold territory.

    I’ve got buy limit orders set at $53,869.93 USD (.382 Fibonacci retracement level), $49,260.42 USD (.50 Fibonacci retracement level) and another set at $44,108.60 (.618 Fibonacci retracement level).

    Click image below for bigger image of the chart.

    BTC-28-11-2021.png

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    3tv (28-11-2021), cosworth4x4 (28-11-2021)

  6. #3
    Cool Dude
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    set hnt purchase when if it hit $36. It dropped to $36.02. im jinxed. BTC now dragging the alts back up.

    h4xor nailed it.
    Last edited by 3tv; 29-11-2021 at 12:53 AM.

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    H4XoR (29-11-2021)

  8. #4
    Satpimps Stock Market Guru H4XoR's Avatar
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    We still need to see BTC break above that red downward trend line.

    Ive added the horizontal Fibonacci lines to the 1 day chart and also the Fibonacci Resistance Fan to help show a bigger picture of how the price action is likely to move and where to expect support and resistance. [For those reading this that are new to charts, a 1 day chart means each red or green price candle represents 1 day of time]

    As we can see from the new attached chart, were coming to a critical price action point in the coming days. The price has to break above the red downward trend line on or before December 6, otherwise BTC will break the green support line and then the panic selling starts.

    [Edit]
    I've also added an Elliott Wave pattern (in white) to indicate how the price action is likely to move if we break above that red downward resistance line.

    If we break below the green support line then Id be placing buy orders at the 0.786 Fibonacci line at $37,601.05 USD and at the 0.618 Fib line at $44,108.60.
    Attached Images Attached Images
    Last edited by H4XoR; 29-11-2021 at 11:49 AM.

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    3tv (29-11-2021)

  10. #5
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    just got up, dam, that a decent overnight drop

  11. #6
    Cool Dude
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    heafty sell off in progress.

    binance has frozen my account and is requesting KYC info so cant buy/sell or move anything. FFS

  12. #7
    Satpimps Stock Market Guru H4XoR's Avatar
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    The Bitcoin bloodbath should end in two days on the 10th Jan.

    My Elliott wave pattern is predicting a low of $31485.

    So if you want to buy Bitcoin, look at adding buy orders in four tranches at $37719, $34778, $33013 and $31485.

    Then hold until 23rd May, 2022.

    BTCUSD.png

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    3tv (09-01-2022)

  14. #8
    Cool Dude
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    feels like 2017/18 all over again.

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