I've revised my analysis and figured out what paths are possible from here onwards. In any case, buying BTC is not safe nor ideal now, since we might get a consolidation sooner rather than later. The corrections that may form can take us way lower, or simply sideways from wherever it tops, but, overall, they imply no more growth after time runs out, for an extensive period of time. Finding the bottom of said corrections, or predicting how far down they will go can be done, but only with more data that will reveal itself over time. Now, if you're long my advice is to hold and watch price patterns develop. If you don't have mastery of the time at mode methodology, it will be hard for you to figure this out, but at least you can rely on tracking your emotions, and being cautious when extremely hyped, and greedy when fearful but in profits. As for people on the sidelines, chasing price now is not wise at all. I'm still making money from being on select altcoins with good fundamentals and technical trend signals which I joined, while risk/reward and probability were optimal, and I'm still far ahead of BTCUSD holders, by actively trading in and out of positions instead of blindly hodling BTC. I'm not bothered by losing a bit in BTC terms, after having beaten it heavily in the past two years. Some people will get obsessed and do stupid things due to this, so, please, don't be too greedy. You may not see other opportunities in front of your eyes, due to focusing too hard on one thing. As for BTC, I will explain this in more detail in a video, but also want to have the chart with the forecasts published.
Cheers,
Ivan Labrie.
PS: To the haters, chill guys, it's not good for your health to be so negative. If you carefully review all my publications and learn more about how trading works, you might change your mind. It's not about absolute returns at the expense of having wild volatility and drawdowns in your equity, it's about maximizing risk adjusted returns. Maybe some day you'll get it. At times, haters are just people who need to criticize others to hide their own flaws...not good behavior, speaks bad about anyone doing it. I'm a positive guy, you won't ever see me actively criticizing people all the time. Lighten up!
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My connection might be slow, you can hear most of the audio here...
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The daily timeframe uptrend ended, now look at the yellow arrows, either sideways or back down to support. Weekly is ending after the weekly close...It could have already topped as per that arrow, we don't know the shape of the correction/consolidation yet, and the long term trend still has time left until Dec 31st. We already had two bearish news: Coinbase IRS oversight of users and China soon to ban OTC trading...
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BTCUSD has a buy signal here, if not below today's low it can surge for the next 7 days and hit between 22 and 25k at the top.
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If this support holds, BTCUSD might slow down and bottom in 3 days If not we can expect the targets here to be hit within 6 more days.
Down to 9900-6695.
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We bottomed, in roughly the time expected, and after hitting the top zone as expected, right on time.
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Looks like we will go lower indeed, it was possible that it would remain sideways but not anymore. Now the door is open for way lower prices over time. Review my last publications for updates.
Hello Ivan, congrats on the great work!Are you planning to do a chart analysis on BTC for February/March?
IvanLabrie
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@Exess17, I've been updating the last one I had made. I'll publish again once we further confirm the bottom.
IvanLabrie
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Looks like we will go lower indeed, it was possible that it would remain sideways but not anymore. Now the door is open for way lower prices over time. Review my last publications for updates.
Thanks for your charting and commentary. Helped me pick up 55 BTC at around $7500. Now I’m just chilling waiting to get richer.
Let’s hit the moon BTC!