BitcoinLong
BTC/USD "The Moon Shot Theory"
This morning as I was looking at some charts, I came across an older chart I posted about that had Dec 17 2017 pinpointed. December 17th was the date we hit the ATH of the infamous bull-run. I thought to myself, December 17th is coming up and things are looking more bullish to me than before. What if make a yearly low right around the same time a year ago when we made an ATH. That would be ironic. Imagine if we hit the bottom, on relatively the same date as hitting the ATH a year prior.
Looking at the chart above we have many things lined up that all agree with my bullish views.
- Falling wedge (bullish reversal)
- EW theory lining up with a potential reversal
- Previous price action support zone at falling wedge support ($3000-$3100)
- All time high in Bitcoin shorts
- Dec 17 2018; Exactly 1 year after ATH is hit, we make a new low and take off out of the wedge)
- Dec 17 lines up near the apex of the wedge, where we can see a valid breakout
- Fractal from 2014 lines up with the week of December 17th being the bottom before starting to rise in price again
Last year on December 17th 2017, the trend reversed. Wouldn't it be Ironic to see a new 52-week low established on the same day 1 year later and reverse the trend once again.
*This is just something that had crossed my mind earlier this morning and thought I would share. It is not completely out of the question, just may be a bit far fetched.*
Looking at the chart above we have many things lined up that all agree with my bullish views.
- Falling wedge (bullish reversal)
- EW theory lining up with a potential reversal
- Previous price action support zone at falling wedge support ($3000-$3100)
- All time high in Bitcoin shorts
- Dec 17 2018; Exactly 1 year after ATH is hit, we make a new low and take off out of the wedge)
- Dec 17 lines up near the apex of the wedge, where we can see a valid breakout
- Fractal from 2014 lines up with the week of December 17th being the bottom before starting to rise in price again
Last year on December 17th 2017, the trend reversed. Wouldn't it be Ironic to see a new 52-week low established on the same day 1 year later and reverse the trend once again.
*This is just something that had crossed my mind earlier this morning and thought I would share. It is not completely out of the question, just may be a bit far fetched.*
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