Bitcoin is the analysis of the Crypto – League about A week ago, it was thought that the majority of the traders is that the Bitcoin is in a bullish move, it would make it out of the driehoeksformatie.
BAC was more than three months, in this triangle. The highlight of this band we saw at the end of June, 2019 ($14.200).
On the 24th of september we saw, however, Bitcoin is a $9.580 up to close to $7.712 drop on the chart from Bitstamp. This is a major correction of about 20% in about five days.
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The reasons for the decline in Bitcoin
All of them were the reasons for this decline. Some might say that this is due to market manipulation. The sentiment was too bullish, and the whales respond, here are usually the opposite of that in. The longs have been closed out and immediately came to the bearish sentiment has returned.
Then again, there is a group of people who believes that this decrease is caused by the future’s gap at $8.500 to $7.200. In view of the fact that all of these people for this event to be very bullish commodities, we have to ask at least one question:
We know that the dip would have to take place?
What was the real reason for the decline?
The answer to the first question is, “Yes, you’ve had this dip may be prepared, if you will, the Four-Wave Theory had to be known.” The answer to the second question, we find ourselves with an explanation of the Four-Wave Theory.
Bitcoin and the Four-Wave Theory
The Four-Wave Theory (4WT) is based on the core principles of Bitcoin, including the historical price movements over the past 10 years.
An in-depth research, information about Bitcoin, it has a lot of fascinating and recurring contracts at the european level. By looking at this, we can make predictions with a high probability of doing so.
We know that every bull market of the four waves is that we have two waves before and two waves after the half to see it. The current golf is the first of a new bull market. This means that a wave will be, prior to the reduction by the end of may, by the year 2020.
Figure 1: Bull market 2010In the above chart, we can see that the wave of 2010. This can be compared to the first wave of 2019 (see figure 2, below). The recurrence of the similarities are obvious.
Bitcoin is a bull market and 2019
On the left-hand side of both pictures, we see a side to side movement of the bearmarket and the first pump, which is the beginning of their respective bull market launched. After this initial stage, we have to have a pump to Bitcoin (BTC) to his foundation’s causes.
The structures of the two foundations are very similar to each other, and they will have the Bitcoin to the large pump will run.
Figure 2 – Bull 2019Nadat Bitcoin is at the highest point it had reached, it was the small (purple) information to make. There is also a risk of these positions.
If the price is too close to the end of the pattern, with the majority in thinking that this is a bullish indicator. This line of reasoning is based on the strong bullish movement which has just occurred.
But these are only small price movements within the larger (blue) formation. This is the reason why Bitcoin is down exploded to the levels of their respective foundation to the test.
From a technical analysis point of view, this behavior makes sense. At the same time, it is one of the most recurring contracts of the Bitcoin. As many as 92% of the cases in the last ten years, the model is correct.
The Dip of BTC, it is a logical and bullish
There are only two of the thirteen waves, of which Bitcoin is not all the way to the base of the foundation is to fall back. Based on our data, it is very likely that Bitcoin’s current level has already been tested, and is on the verge of rising again.
After the last dip, it seems Bitcoin is a well-rounded bottom is forming, as well as to be a bullish pattern in a trendomkering might be able to point to it.
Of course, it is still possible that Bitcoin goes down to the bottom of the foundation to the test. This lie about the $7.200. A decrease of less than $7.000, it is unlikely to occur, and it would therefore not be consistent with the historic price movements of Bitcoin.
If Bitcoin is to begin with the trend reversal (and therefore, uphill), you will see that we are likely to test the previous support and resistance levels within the small one (purple) head. In this test, you will need to be between $9.100 and $10,000 to be, just as it did in 2010.
As you can see, there is no reason to think that we are still in a bear market, sit down. Bitcoin is exactly where it should be!
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