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Bitcoin Crashes. You’ll Be Surprised To Hear What’s Next

By Chris VermeulenCryptocurrencySep 04, 2020 03:41PM ET
www.investing.com/analysis/bitcoin-crashes--youll-be-surprised-to-hear-whats-next-200536384
Bitcoin Crashes. You’ll Be Surprised To Hear What’s Next
By Chris Vermeulen   |  Sep 04, 2020 03:41PM ET
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RESEARCH HIGHLIGHTS:

  • Bitcoin collapsed near Triple Fib Amplitude Arcs – is this a sign of pending reversal for other assets?
  • It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target. Beyond that, possibly $7k or even $6k.
  • Gold and Silver will move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets.
  • As other assets decline in valuation levels, the US dollar will likely be viewed as the strongest currency to own and rise.

Many of you are familiar with my team’s advanced study of Fibonacci Price Theory and our use of our proprietary Fibonacci Price Amplitude Arc indicators. This technical analysis theory is a combination of Nikola Tesla’s Mechanical Resonance theory and the traditional Fibonacci Price Theory. We believe the innate frequency of price action (once found), can be used to identify future critical inflection points in price. In this case with Bitcoin, three unique Fibonacci Price Amplitude Arcs aligned within 5 days to present a very real price inflection point. The recent collapse in the price of Bitcoin may be inherently related to the frequency of price from past peaks and troughs using our advanced Fibonacci Price Theory.

We found it interesting that Bitcoin prices stayed below $10k through most of June and July, when other Fibonacci Price Amplitude Arcs crossed price, then began to move higher after the last Price Amplitude Arc completed near July 20, 2020. After that Fibonacci Arc completed, the only Fibonacci Price Amplitude Arcs present in the future were the Triple Fibonacci Arcs shown on this Daily Bitcoin chart (below).

Our team also believes that once Bitcoin cleared the previous Fibonacci Arcs, a bit of a “reprieve” took place in price where a moderate upside price rally too place. As we neared the Triple Fibonacci Arcs, price activity muted and reversed. Could it be that price reacts to frequency levels we are not seeing on the charts?

Bitcoin Daily Chart
Bitcoin Daily Chart

The Weekly BitCoin chart, below, highlights many of the origination points (peaks and troughs) of the Fibonacci Price Amplitude Arcs. We anchor them to price peaks or troughs as a way to use and study them, measuring critical price waves (up or down) using Eclipse drawing tools, then drag them and anchor them to current or past peaks or troughs. Then we study the levels to determine if the frequency of price validity is accurate or not. If we believe we have drawn a Fibonacci Price Amplitude Arc that is valid, we’ll keep in on the chart for future reference.

Bitcoin Weekly Chart
Bitcoin Weekly Chart

We believe this current Triple Fibonacci Arc pattern may be present in other symbols given how the US stock markets have reversed recently. It may be that these critical price inflection points operate across major indexes like tides in the ocean work across multiple ports and harbors. When a big or critical Fibonacci Price Amplitude Arc hits, we believe it results in a broad market reaction.

If this breakdown in Bitcoin Continues, the $8k level would be the next downside price target. Beyond that, possibly $7k and maybe as low as $6k. We will have to see how Bitcoin reacts to this Triple Fibonacci Price Amplitude Arc and how deep price corrects at this time. It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels.

We also believe Gold and Silver will move lower as a price collapse in Bitcoin suggests the general market fear is hitting all global assets. The US dollar may attempt to form support as well because of this move. As other assets decline in valuation levels, some primary currency will likely be viewed as the strongest alternative asset – this will likely be the US dollar. Eventually, after what we believe could be a moderate downtrend in Gold and Silver, precious metals will begin to move dramatically higher as foreign currency and Bitcoin prices continue to fall. Capital will always seek out the best, least risky, investment solutions at times of chaos and risk. If Bitcoin becomes highly volatile and continues to fall, then alternate assets present very real opportunities.

Bitcoin Crashes. You’ll Be Surprised To Hear What’s Next
 

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Bitcoin Crashes. You’ll Be Surprised To Hear What’s Next

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Comments (49)
Vincent Vicario
Vincent Vicario Mar 03, 2022 11:41PM ET
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Nailed it… Donkey
Deon Van
Deon Van Nov 01, 2021 3:50PM ET
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Franklin David How?
RF RF
RF RF Nov 01, 2021 10:45AM ET
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Old news ... very old news.
Jeffrey Buford
Jeffrey Buford Nov 01, 2021 8:32AM ET
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need to do better than what I am
Jeffrey Buford
Jeffrey Buford Nov 01, 2021 8:30AM ET
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how do I get in on it
Franklin David
Franklin David Oct 26, 2021 12:41PM ET
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Did you know that you can make up to 5,000trx in the next 3 hours ask me how
Jennifer Consorti
Jennifer Consorti Oct 26, 2021 12:41PM ET
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How
Jimoh Adesina
Jimoh Adesina Oct 26, 2021 12:41PM ET
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How
vinod maikoo
vinod maikoo Oct 26, 2021 12:41PM ET
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How?
Deon Van
Deon Van Oct 26, 2021 12:41PM ET
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how
የሰው ፍቅር
የሰው ፍቅር Oct 26, 2021 12:21PM ET
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No many
Chris Sundo
Chris Sundo Oct 22, 2021 8:24AM ET
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WHAT IS THIS ARTICLE OF '2020, Sep 04' doing here ??  -- Please flag it or report it for deletion. -- IMO since Investing dot com has been taken over by China everything is getting neglected. Typical of what China represents: neglect and being out of touch with reality. -- Make no mistake: Everything that China displays now and up to their olympics in 2022 is all going to be SHOW, SHOW, PROPAGANDA, lies, fake, and more show. Don't be fooled by it.
CRAIG HARRIS
CRAIG HARRIS Oct 21, 2021 2:16PM ET
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Wrong
Mohd Izhar Muslim
Mohd Izhar Muslim Oct 21, 2021 1:31PM ET
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I'll be waiting for the future bright.
 
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