Bye Bye, Bitcoin.

A DEATH CYPHER (Bearish Gartley) formation has appeared. There is nothing Bitcoin can do about it, and it's going to it down to hell. But don't panic, if you're invested in Alt-coins, like Ethereum, Litecoin, Ripple, BitShares and Stellar, there is nothing to worry about. If you are not, good luck. You may need it. This baby is going to hell faster than you can imagine. It will come back, as it always does, but this time BTC will have real competitors from other Blockchains, something I actually consider to be good.

TP: 825 USD at least, although it could go lower.

If you want to know the run-up setup for getting to this DEATH CYPHER, please check out my other post. I thought we were going to heaven, but then I saw a FIB DAEMON who changed my mind. I got out before this bull trap popped. Maybe not at the top, but I know I won't be at a loss.

Good luck!

Disclaimer: As usual, this is not a perfect prediction. Don't put all of your money into it. If you don't know how much to put, you can learn how to hedge properly by using common sense and a search engine! I will be posting updates as I have been doing in my previous posts. If you earn good profits, please donate some to keep me motivated! You can find more info at my signature.

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Pivot line confirmed. We're going down now.

Bear flag. Seems ready to keep dumping!

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To be more precise:

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It could actually be a Head & Shoulders formation.

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Bitcoin about to dump!

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Didn't dump, but this is a better setup:

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Final update about this chart:

Reasons why Bitcoin is about to go down BIG time.

- Three bearish cyphers in fractal positions.
- 222 bars for this pattern to go. Middle of the pattern is 111 as you can see in the chart. The middle is also where the FIB bottom is located at.
- We just touched the upper historic resistance.
- Chaplin Cypher feels sorry for all the noobs who keep thinking we're going up.

Good luck!

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Added some FIB circles to the first two fractals.

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Oh no! A stick Illuminati figure has appeared! Poor Bitcoin!

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Oh no! Bitcoin bulls are getting hammered big time!

Poor Bitcoin!

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Ouch! It's getting pounded hard. Damn!

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They just went super sayan!

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Bearish cypher is winning, and he likes it.

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Hmmm... this is starting to look more and more familiar... the colours... the star... who could it be?

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Check out the numbers for clues. 444 - 888. Sounds like the far east. Asia...

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Warmer...

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Oh so BTC is trying to go up? This guys have brought some reinforcements.

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Communist jets are approaching:

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Communist fighter jets have started to bomb Bitcoin! NO!

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Bombs are approaching its target:

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Communist bombs are about to hit the target!

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Bombs hit the target... Bitcoin seems to be fine though...

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Seems like Bitcoin is weakening. Some Litecoin fighter jets are now hovering it. What's the plan now?

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Litecoin fighter jets are starting to drop SegWit bombs on Bitcoin.

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SegWit bombs are about to hit their target

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Target hit

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It's super effective!

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Oh, bulls want a new attempt! How cute!

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Too many red dojis. The end is near.

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Seems like those SegWit bombs really had an impact on Bitcoin.

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The monster has one last chance against Bitcoin. The BFX missile is getting ready to launch:

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Set.

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Launch.

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A critical hit! It's super effective!

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Now that Bitcoin is going down, the monster has laid a very nice rainbow carpet for it.

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Added more FIB dimensions.

The monster also became Bitdel Castro.

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Relájate and enjoy the ride down my friend.

First target seems to be at 1100.

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He seems to be getting ready.

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Bitel is just waiting for the collapse. Not much going on though.

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Zooming in, Bitcoin likes riding the rollercoaster, but it looks like this trip is about to take it to a lower level...

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That's what I call a DUMP. Bitcoin is just continuing with the ride!

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Let the geometrical rollercoaster continue.

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Possible contracting pennant formation on BTC.

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A dragon has kidnapped Bitcoin. Will it take it to a safe place or just dump it?

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Bitagon.

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Bitagon, where will you take Bitcoin now?

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Kommentera:

There is an ascending channel that could break down at any moment.

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This trade will continue in the following threads:

Animated version:

Technical Analysis: