BTC mid-term prediction
Updated
Everyone has been talking about the next capitulation of BTC where price would be $15000, $10000 or even lower.
My model, as long as being valid (*), predicts that BTC might be very close to its current cycle's bottom.
BTC is struggling to close above $20000, the current resistance (also a psychological price level, electricity cost level or whatever). If failing, I think that BTC will revisit the "EL Line" quite fast to grab the liquidity in order to get back to the "210K Line", a base price level. The recovery (in mid-term) would not be a V-shaped one but a slow parabolic curve, like what happened in 2015.
This post is just to share with you my own analysis. It is not a financial advice. Good luck and take care!
-----------------
(*) the used model is invalid when BTC closes below the "EL Line" with in 1W candle.
My model, as long as being valid (*), predicts that BTC might be very close to its current cycle's bottom.
BTC is struggling to close above $20000, the current resistance (also a psychological price level, electricity cost level or whatever). If failing, I think that BTC will revisit the "EL Line" quite fast to grab the liquidity in order to get back to the "210K Line", a base price level. The recovery (in mid-term) would not be a V-shaped one but a slow parabolic curve, like what happened in 2015.
This post is just to share with you my own analysis. It is not a financial advice. Good luck and take care!
-----------------
(*) the used model is invalid when BTC closes below the "EL Line" with in 1W candle.
Note
BTC move was stronger than I first thought but it is still under the first resistance which slowing down its uptrend.Let's see if BTC could break out or be rejected the next days
Note
As an illustration for the above comment, here is my view for the next moves of BTC
Related publications
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.