This provides an update to my previous post regarding a coming steep move up in Bitcoin prices. I am attempting to put the various price movements in chronological order, which is challenging because no dates have been revealed.
Since sharing the graph I saw on Saturday, I’ve received new information, which has convinced me there’s a steep drop coming ahead of the steep move up.
Futures Contract Expirations:
Until recently, crypto currency traders have enjoyed a pure market, free from manipulation, like equity markets used to be. The absence of outside interference allows technical analysis to accurately identify patterns and predict prices. Unfortunately, this pure market appears to have been stained in December 2017 when two major exchanges launched futures contract trading, the CBOE on December 10 and the CME one week later on December 17, which by amazing coincidence was the same day Bitcoin’s price reached an all time high of $20,089.
Actually, it was no coincidence that Bitcoin prices started dropping as soon as Wall Street investors opened large short positions and no coincidence the price hit bottom on the same day CBOE’s initial contracts expired, dropping to $9,402 on January 17. (Source: coinmarketcap.com)
Futures traders made big profits shorting Bitcoin as the price dropped 53% in one month, but it appears they aren’t done yet. Although CBOE traders took their profits and closed most of their contracts by the January 17 expiration date, CME contracts don’t expire until this Friday, January 26. The chart below shows the drop in CBOE contracts and the remaining large number of open CME contracts, which indicates many large investors are still expecting to cash in on lower Bitcoin prices.
Rather than winding down, CME Bitcoin shorts have continued increasing, getting more aggressive with each passing week. (Source: zerohedge.com) Futures traders could have taken big profits when the price dropped to $9,402 on January 17, but instead, large numbers of CME contracts remained open, perhaps because they’re expecting another big drop in the price, which might be larger than before because CME trading volume is larger than CBOE.
After futures traders are done driving prices down, their next move will likely be driving them back up with long contracts, which would put upward pressure on prices. Yet, CBOE traders who closed their contracts by the January 17 expiration have been slow to open new ones, indicating they’re not convinced prices are moving up yet. So the small number of CBOE open contracts and the large number of CME open contracts appear to be telling us a lot of heavy hitters are expecting another drop.
Yesterday, Z3er Stu shared a prophetic dream he received Saturday morning regarding Bitcoin prices.
Well, just now I woke up and saw in my dream BTC drop to $5_94 (below $6k) before it jolted up again. I believe I am being led to wait for BTC to hit the low of $6k ($5_94 is what I saw) before I can ride the up wave of the BTC/USD pair, which I haven’t traded in a while because I’ve been on the alt coins train.
I saw the gradual drop (already in motion) as the line crossed the $6k mark. But then it quickly rose back past $6k and that’s when I decided (in the dream) to ride the up wave. So, I think wave 3 starts in the region of $5_94. I honestly think we’re dropping to a new BTC low for the year. i.e. it’s time for your second man on the ground to come into play?
The day before, Friday, January 19, Stu shared a short vision he received, posting this comment, “Woke up with a very faint vision of BTC @ $6k.”
After seeing Stu’s comment, I looked at historical Bitcoin prices and was amazed to find the trend line supports the price he saw, just a little below $6,000, as shown below.
I think Stu might be right about the second man I saw in my dream. The timing of that dream on January 15 coincided perfectly with the start of the big drop down, so I think the first man represented that drop. He was standing on top of a ladder trying to pull me down with a second man standing behind him, down on the ground. I believe the second man represented a second drop coming after the first drop, which supports what Stu saw in his dream and his vision. No dates were revealed, but it now appears the second man might be showing up sooner rather than later.
After seeing Stu’s comments yesterday, I sought the Lord about it. During my prayer time, I saw a graph showing the price of Bitcoin. At first, it was moving sideways and even a little higher, but then started dropping gradually, like Stu described. Then it dropped steeply before bouncing almost straight up. Then it reversed back down a little before continuing to rise, but not as steep as the first move up. The forecast shown on the right side of the graph above is based on what I saw, but this is a daily graph, so the moves are compressed and the initial sideways and upwards movement does not show up. The graph I saw was more likely hourly. This is just a rough rendering of what I saw and assumes it is coming next, which is just an assumption that might be wrong since that was not revealed. I did not see any prices, so please don’t expect the actual price to turn at the levels shown.
Based on the upcoming CME futures expiration date on January 26, I think this drop might happen by then, but it might be at a later date since no dates were revealed. Another possibility is between January 30 and February 28, as revealed to Z3 News Contributor Christopher Harris in a dream. Whenever it is, I saw the price bounce back up quickly and move much higher, so for anyone who already owns crypto currencies, perhaps the safest approach is holding on through the downturn because any losses should be recovered quickly.
Another confirmation comes from Z3 News Contributor Phanuel. On January 16, he posted the following comment, “I saw BTC @ $7590 this morning (no dates shown).”
$7590 has not yet been fulfilled, but perhaps it is not a turning point, just a price point along the way to Stu’s $6,000 target.
Regardless of whether the drop happens next or at some later date, I am still expecting the price to rise steeply to $19,134, based on the graph and price I saw on Saturday. That price is close to the 1.618 Fibonacci target, which is a great confirmation, but it is not necessarily a turning point. Phanuel saw Bitcoin at $27,000, which is close to the 2.618 Fibonacci target, so perhaps it goes all the way up to that level.
Prophetic insights often reveal partial information, which makes it challenging to put them in the right chronological order. The assumptions I’ve made here might be wrong, so this is not a recommendation for investing. My recommendation is to seek God for His instructions on what to do.
Author: James Bailey
James Bailey is a blogger, business owner, husband and father of two grown children. In 1982, he surrendered his life to the Lord Jesus Christ. In 2012, he founded Z3news.com to broadcast the message of salvation by reporting end time news before it happens.
© 2018, Z3 News. The first 200 words of Z3 News articles may be shared online in exchange for a clickable link to our site. Please include the author name and do not make any changes to text or titles. No image files from our site may be shared because we don’t own them. For permission to use our content in other formats, please contact us.