BTC tested hard here on (P) yearly fib pivot

18 set 2023

- Uncovering the Rhythms of Bitcoin

Bitcoin's recent price action has brought it to a critical juncture, testing the (P) yearly Fibonacci pivot point. In the realm of technical analysis, one tool that's capturing the attention of traders and enthusiasts alike is the Fibonacci pivot points. Derived from the intriguing Fibonacci sequence, these points have a long history of helping predict the future direction of price movements. The underlying principle revolves around the belief that financial markets, including the ever-volatile Bitcoin, follow cyclical patterns, providing some semblance of order in the chaos.

Bitcoin seems to be dancing to the beat of these Fibonacci pivot points with remarkable precision. This rhythmic pattern hints at a hidden structure within the crypto markets.

But that's not the only pattern I've been tracking. Beyond Fibonacci, I've observed what I call the 'Japanese 3-Year Cycle' in Bitcoin's behavior. This concept bears similarities to the well-known 'Four-Year Cycle Theory,' but with its own unique twist. The 'Japanese 3-Year Cycle' suggests that Bitcoin experiences price peaks roughly every three years, possibly influenced by a myriad of factors, including halving events, technological advancements, regulatory changes, and broader macroeconomic trends.

Yet, the world of cryptocurrencies remains as enigmatic as ever. Social media platforms buzz with posts from traders and enthusiasts who grapple with the unpredictable nature of this space. My aim is to bring some clarity to this apparent chaos, to shed light on the inherent order concealed beneath the surface.

However, it's essential to remember that while these patterns can offer guidance, they are not infallible predictors of future movements. Cryptocurrencies, particularly Bitcoin, are highly volatile and susceptible to numerous external influences. Always conduct comprehensive research before making investment decisions and consider consulting with financial advisors.

In the end, whether it's the Fibonacci pivot points or the Japanese 3-Year Cycle, one thing remains undeniable - Bitcoin's intricate dance continues to captivate us. Let's keep observing, learning, and, most importantly, navigating these markets with wisdom and patience.https://www.tradingview.com/x/Y063EhHj/
https://www.tradingview.com/x/w2NymPej/

15 nov 2024

Trade attivo

Get ready

15 nov 2024

Nota

"The chart indicates that we are ON Wave 5, the final push of this market cycle. Wave 5 is often driven by strong market enthusiasm but can also signal a market peak. We’re likely to see sharp upward movements, but traders should remain vigilant for signs of exhaustion. Key levels to watch are 170-270K and the support trend line below. Remember, after Wave 5, a corrective phase is likely, which may present new buying opportunities. Trade with caution and manage risk wisely!"

15 nov 2024

Nota

15 nov 2024

Nota

Wave 5: Final Push, Extreme Caution Zone 🚨
Wave 5 represents the final stage in an Elliott Wave cycle and often marks the peak of an established trend. While it can offer profitable opportunities, it’s also a phase where extreme caution is advised. Here’s why:

1. High Risk of Reversal
Wave 5 usually signifies the final push of a trend before a major correction or reversal.
As Wave 5 progresses, the market may become overextended, attracting late buyers driven by “FOMO” (fear of missing out).
This phase often experiences declining momentum, suggesting that the trend could soon weaken and reverse sharply.
2. Exhaustion of Market Sentiment
Wave 5 often aligns with an overbought market condition. Indicators like RSI or MACD may signal divergence, where price continues up but momentum weakens, hinting at an approaching reversal.
Traders who enter during Wave 5 are often driven by emotion rather than fundamentals or technical strength, leading to higher volatility.
3. Limited Upside Potential
Compared to earlier waves, particularly Wave 3, the upside potential in Wave 5 is generally more limited.
Attempting to enter at this stage poses a high risk since the reward is often smaller, while the potential downside can be significant once the trend reverses.
4. False Breakouts and Bull Traps
In Wave 5, breakouts above key resistance levels may not hold, leading to “bull traps” where traders are caught buying at the top.
These false breakouts often result in sharp reversals, catching unprepared traders off guard and leading to potential losses.
5. Post-Wave 5 Correction (A-B-C Pattern)
Following Wave 5, the market typically enters a corrective A-B-C phase, where price retraces and seeks a new balance.
This corrective phase can be deep and prolonged, wiping out gains made during Wave 5 and often more, particularly for those who entered late.