As I shared previously, the chart I saw on August 5 showed a macro view of a sequence of six moves, which I described as A-B-C up followed by A-B-C down. Since the chart showed no prices or timing, I was initially looking for it on a micro scale but couldn’t find it because it was a macro view. We now have over two months of history and the 12-day MA is the one that most closely aligns with what I saw with a rounded first top followed by a small drop, just a little lower than horizontal, prior to a steep move up, which is happening now. Once I was able to locate the pattern, it became clear that the top of this first C wave up would go above $60,000, as I shared in a previous comment. (By the way, we’ve been having some technical errors and a few crypto comments posted over the past couple of weeks have disappeared but I’m hoping to find them and repost them.)
The next three moves on the August 5 chart showed a steep A wave down, followed by a partial retrace back up, B wave, then a final large steep drop, C wave. As I mentioned previously, when I saw the chart, my attention was so focused on the first two tops and the final steep drop that I could not recall the relative size of the upcoming bottom of the A wave down or the top of the B wave, but on Oct 13, when BTC was trading in the range of $54,300 to $57,700, I saw another chart that I believe showed these moves more clearly. It started with an A-shape. The first leg of it has been forming since then. Next comes the second leg down, which should be a steep drop to about where it started.
I think the bottom of the second leg of the A-shape could close to $55,000 based on what Christopher Harris saw on August 5. He posted, “Then I had a dream of the BTC price rising up to 50k, there was a sharp decline but then the price pumped to 62k and I wanted to sell BTC and ETN, and then I saw the BTC price was at 55k.” Just as he saw, BTC topped at about $52,900 on September 7. Then there was a sharp decline to about $40,000 on September 21. Then it rose up and reached his 62k target, hitting $63,293 today. Next he saw BTC at $55,000, which is within the range where BTC was on October 13 when I saw the A-shape, so I think that might be close to the bottom of the second leg of the A-shape.
From there, the October 13 chart formed a rounded bottom and moved back up at about 45 degrees and formed a rounded top, retracing about 50% of the drop, and rolled over slowly back down to about the bottom of the A-shape. If the top of the A-shape is close to today’s top at $63,293 and the bottom is $55,000, then a 50% retrace would put the top of the retrace at about $59,000.
The October 13 chart ended there, but since I think it was all within the context of the moves shown on the August 5 chart, I think the final drop continues, forming the large C wave steep drop.
I can only speculate about where that drop will hit bottom, but on August 24, I posted, “I saw BTC dropping to $37,400.” The same day, Christopher Harris posted, “I saw BTC moving under $37,125.” A drop to those levels would align well with the size of the drop I saw, so maybe the bottom is in that range. If so, this C wave drop would be about $22,000, from about $59,000 to about $37,000, but could be more than that if the bottom is lower.
I’m still watching for the fulfillment of another chart I saw on July 22, which I shared the same day in this post, “I saw a chart showing Bitcoin price movements. At the far left side, it was moving sideways. Then it suddenly dropped very steeply, like straight down. Then the drop stopped and it started climbing slowly back up at about a 45 degree angle until it had retraced over halfway back to the top. Then came a second steep drop that continued noticeably lower than the first drop.”
Since none of this has happened yet, I think the first steep drop on the July 22 chart might be the final C wave drop on my August 5 chart, but this is a big assumption that might be wrong. But if these are the same and if we assume the first bottom is around $37,000, as shown above, then the retrace that I saw going up over half way would top at about $50,000 for a .618 retrace or about $54,000 for a .786 retrace.
However, the first bottom shown on the July 22 chart might be lower than $37,000 since Christopher Harris saw it dropping “under $37,125”. On August 12, he posted, “I just woke up from a dream and I saw the BTC market moving up from 35k fast with high volume to 50k I believe it was, it was very close and the dream ended. I don’t know how far it went down prior, but I saw it moving up from around 35k.” So maybe the first bottom is around $35,000 and the top of the retrace is a little above $50,000.
From there, the July 22 chart showed a second steep drop with the second bottom “noticeably lower than the first drop.” No prices were shown, so the bottom of the second drop is unknown, but on August 2, I posted “I saw a BTC price chart as it was dropping fast so the price was changing fast. All I could see was it was in the $19,000 range.” And on July 24, Christopher Harris posted, “I saw yesterday $26,110 and $19,290.”
So, maybe the bottom of the second steep drop is around $19,000. If so, that drop would be about $31,000 or more.
Another insight from Christopher Harris supports the possibility of dropping to $19,000. On April 3, he posted, “saw BTC at $19k and saw a minus $44k next to it, as if it had been subtracted from it, meaning it had gone down from $63k.” Back in April, it seemed like the fulfillment of what he saw was starting because BTC topped at about $64,800 on April 14, but it only dropped to $28,800 on June 22 before climbing back up above $63,000, so that wasn’t it. I was glad to see BTC move above $63,000 today since that sets up the possible fulfillment of the drop to $19,000.
Today I saw $42,150 and $30,100 but as usual did not see any timing. In any case, these prices would be fulfilled by the scenario shown above.
Prophetic insights into future market moves only give us glimpses into what’s coming, so lots of important details are missing. I can only watch and wait to see the fulfillment, so my assumptions about how it all fits together might be way off the mark. So this is not a recommendation for investing. I’m only sharing it so you can add your own insights to hopefully get a clearer picture. I believe God will give more insights to anyone who asks Him in faith expecting to receive an answer, as long as we meet the requirements Jesus identified when He said, “If you abide in Me, and My words abide in you, you will ask what you desire, and it shall be done for you.” (John 15:7 NKJV)
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.