B+B Macro Comp
Disclaimer: This post is for private competition purposes only, and in no way is to be used as financial or trade advice.
I have chosen the Liquid index on the logarithmic scale as the basis for this analysis.
Since the last high, BTC has respected the downward trendline near perfectly (green), and I'm assuming it will continue to do so until the halving. The Red, Yellow, Purple, and Grey lines drawn are estimated extensions of the 25, 50, 100, & 200 MA respectively. I believe we will see the 25 & 50 MA congregate between 8300-8500 area leading into Mid May - This price range i believe to be significant, as is reflected by the Ichimoku Cloud and the Weekly Pivot, and significant respect throughout historical price data from 2017 - Current. Price is now playing on the 0.618/0.382 Schiff extension, leading me to believe it will continue to respect this area throughout early 2020. The blue drawn line is a loose possibility of price action leading up to the 18/05, with the price at halving ~$8450 USD.
The RSI, Stochastic, and Hash ribbons indicate that a bull market is on the horizon, and given our position both on the arc, and on the schiff, I feel somewhat confident that any further drawback won't take us far below $6500 before a push back to the upside.
GliTCH
I have chosen the Liquid index on the logarithmic scale as the basis for this analysis.
Since the last high, BTC has respected the downward trendline near perfectly (green), and I'm assuming it will continue to do so until the halving. The Red, Yellow, Purple, and Grey lines drawn are estimated extensions of the 25, 50, 100, & 200 MA respectively. I believe we will see the 25 & 50 MA congregate between 8300-8500 area leading into Mid May - This price range i believe to be significant, as is reflected by the Ichimoku Cloud and the Weekly Pivot, and significant respect throughout historical price data from 2017 - Current. Price is now playing on the 0.618/0.382 Schiff extension, leading me to believe it will continue to respect this area throughout early 2020. The blue drawn line is a loose possibility of price action leading up to the 18/05, with the price at halving ~$8450 USD.
The RSI, Stochastic, and Hash ribbons indicate that a bull market is on the horizon, and given our position both on the arc, and on the schiff, I feel somewhat confident that any further drawback won't take us far below $6500 before a push back to the upside.
GliTCH
Disclaimer
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