Here is a possibility for long-term bitcoin price movement. 1:1 Horizontal triangle break target (see closeup below) gives around ~3000 for bottom, although 1900 is also possible. After a long consolidation period, uptrending should resume. Unless of course crypto dies forever and never recovers... but I kinda doubt that.
Total altcoin marketcap shows a similar pattern, bottom should be at around 117 billion total mktcap.
Horizontal triangle target gives about 3050 (these hit 73% of the time so might not make it all the way there):
It is also possible that we are at the bottom right now, sitting directly on the long term log-scale trendline.
Total altcoin marketcap shows a similar pattern, bottom should be at around 117 billion total mktcap.
Horizontal triangle target gives about 3050 (these hit 73% of the time so might not make it all the way there):
It is also possible that we are at the bottom right now, sitting directly on the long term log-scale trendline.
Note
And the possible Wolfe Wave, shown in yellow, gives an up side target somewhere on the green line.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.