1) So our time target for Bitcoin BTC bottom is 3/23 and as long as I see a stock market capitulation, whatever the price is, I'm buying.
But what might that BTC bottom price be? 👇
If you missed it, time target tweet below.
2) Here is an example FIB (2018 BTC bear market) FIB lines work like "magnets", they will attract the price to a level only to push it away. Depending on price direction, FIB levels are support or resistance. If the level breaks or price bounces, price goes to the next FIB level
3) Q: Why is this important? A: Because there is nothing preventing us from drawing the FIB lines before the bottom is in. Q: What?
OK let's go back to May 2018 and assume the bottom of the bear market is still not in.
4) Now let's try to draw a FIB line and try to match support and resistances with FIB lines
Here is an example of a good match but we don't believe that the bottom is in so we do not use it.
5) Here is the next good match with BTC price at 3934.
Next, let's fast forward and see how we did.
6) Not bad, this method precited the price of BTC by 800 or 20% from the bottom.
Out of a possible Maximum 22x from the VERY bottom to the VERY top, this method got us 17.5x and change.
If that doesn't seem much to you, it would beat 99.5% of the market.
7) This is something that I developed, surely I am not the first to do so, but I haven't seen anyone else do it yet. I call this method "reverse FIB", but, it turns out that "reverse FIB" already exists even though it is something way different.
8) Based on the above + time target, IMHO the best reverse FIB fit gives a potential BTC bottom as 11.5K sometime near 3/23.
Keep in mind that the stock market capitulation is more important than the bottom for me.
9) If I had to place a buy order, and come Jan Feb March everything is lining up, I would do so for around 12.1K so that I wouldn't get frontrunned.
But please DYOR, all of this should be taken with a grain of salt!This post is based on this twitter thread.