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A new monthly market close happened and now it is important to tell you what can happen in the coming months with the cryptocurrency market.
We already advance you will not be extremely positive, but at least through us you will know the absolute truth that some work teams hide from you.
Low Volumen Capital Are Coming
The closing of the month had the lowest capital inflow volume than the previous months. According to coinmarketcap.com we are starting with less than a total market capitalization of approximately $201.5 Billion dollars.
That means more money is coming out of what is coming. Without demerit that the last volume recorded in the last 24 hours was $62.9 billion.
Extreme Panic Feeling
In addition, the fact that after the last sale of future contracts made by financial institutions, the market went into a panic and most sentimental indicators point to capital outflow.
At this time in the market, most researchers are not confident with the game of the institutions that we had referenced in our latest conspiracy theory.
The Card Game Continues
The saddest thing of all, is that the games to find the perfect checkmate to the king will continue in the coming months. The purchase and sale of future contracts by the big players will continue. That is why before the Bitcoin halving we must be attentive to the next monthly closures of the market.
Therefore, we cannot forget that the game changed. It is no longer just Altseason, also the futures market with each passing day takes more strength.
Elliot Waves Are Hard To Tell
Sometimes we have criticized Elliott’s theory. But this time, we must use it to alert that we are really on a corrective wave for the market in general and mainly for Bitcoin.We still don’t know exactly how far the price will go.
For now, and when this article was written, the price of Bitcoin was negotiated around $7320. But seeing the monthly market close, the price on the last candle made a fairly long shadow that crossed to the EMA21 on the monthly chart, very close to $6320.
At this point we have two theories: (1) the price can make a pullback to return very close to $ 9210; (2) or close very close to the EMA50, close to $5050, breaking one of the main high trend lines, which we theoretically believe that the price will come after the next sale of future contracts.
But don’t feel scared. If our calculations are not badly done we are in a C wave according to Elliott’s theory and next year 2020 we will have the beginning of a large shock wave that we know will start after halving.
Real Fibonacci Retracement
Bitcoin starts a new month below 60% (Fibonacci gold line) of the Fibonacci retraction. With that we conclude that we are really still months of price correction and that everything can happen in reference to highs and lows.
Once again we have to tell you that the graphics do not lie and therefore it is important to learn that this game is not just a matter of price and feeling.
Gann’s Projection That Makes Us Feel Safe
While Elliott and Fibonacci keep us in a climate of extreme fear, Gann shows us that we are in a very important support with the price around $7350 and that in the coming months we will be able to have a re-accumulation.
Remember that applying Gann’s theory we can see exactly the supports, resistances, points of interaction and the main lines of high trend and the main lines of low trend.
If we look closely, Bitcoin closed at a very important interception point for the market.
Spatial Geometry That Shows The Truth
It is evident now that, and using a bit of mathematical geometry, we have a Cypher Pattern in the monthly chart and that although many people want a new bullrun this year, we will really have to wait for the price correction to end.
The squares in the graph mean periods of re-accumulation and price lateralization.
So if you want to know the exact date of the start of the next bullrun, we will say that it will be after the close of the second period of the year 2020.
A future Of Hope
For now we hope that the price of Bitcoin in the month of December will return very close to $ 10,000, and then follow the downward trend that is clear with Elliott’s theory.
For this scenario then we have some points that we must highlight and that will be the probability of the beginning of the next Elliott wave: (a) the price returns very close to $10,000, with a sales sequence with closing to the EMA21; (b) the sale of future contracts can continue, the trading volume can continue to fall and the price of Bitcoin can close very close to the EMA50 around $5050; and (c) follow the downward trend in the traced retraction channel and start the new Elliott wave very close to $5950.
On the side of the main indicators, MACD will have in the coming months a crossing móvil average and with RSI pointing 52 points, we can say that we are in a period of calm and leaving the few of the oversold area.
See the next story. With Love 💛, Rubikators Team.
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Important Clarification Message
At no time does this article recommend the purchase or sale of any asset within the market. Our primary objective is the education and documentation of past, present or future developments.
Remember, investment in cryptocurrencies or other assets has a moderate risk, so it is important to have a detailed study of the possible scenarios before placing your money at risk.