DCMckethan

DCMckethan

After careful analysis i believe that bitcoin is setting up for another big drop within the next 2 weeks or so. Been Studying Bitcoin for a while now and Ive noticed that bitcoin Likes to follow a series of cycles before a big move. That isn't new to anyone. Some says that it is just consolidation and some call it accumulation. Although both are true some might...

DCMckethan

i see Price pushing up to around 10475 area to complete the top of the Elliot's wave. After the wave is completed then the turn around process will begin. I see the A to B wave of the ABC correction wave pushing the market up one last time to create the head of the H&S turn around. My predictions is the market should push up to around (11008). Then the crash...

DCMckethan

Once Price break through the triangle and the 1st zone then Retest. This trade is a Low risk Trade idea. That break through of the zones give me confirmation of the tunaround

DCMckethan

Head and shoulders is my favorite pattern to trade. USoil loves to retrace back to the 618 after the breakout. Also the 618 is conveniently at the engulfing Candle.

DCMckethan

Throughout my extensive back testing, I noticed that bitcoin likes to retrace to the 618 then drop to almost the 0. (Around 15.4% which is a 1/4 fraction of 618). Price 13,535 is the 618 fib level of the intitial push to the 19;518 price. The drop down to the 15.4% fib level of the over all move is also the 1.27 of the initial push up to 13535

DCMckethan

After analyzing the chart Ive noticed a false breakout of previous structure. For me thats a good indication that Is a start of a head and shoulders. Also at the base of the shoulder Ive notice that the zone is a zone for buyers. From previous analysis Ive noticed if the market comes back to that zone for a 4th time then its normally a breakout. Still learning so...

DCMckethan

I see a breakout of the zone to reach the top of the right shoulder of an inverted head and shoulders on Gold. Sure it looks as if it is a bullish flag forming but there is multiple confirmations for a breakout to the downside