BTC (Y20.Y21.Y22).Mega Formation
Updated
Hi All,
This concept is not unique to many but I haven't published this as an update since I heard of it over 6 months ago or more (from Crypto Sniper).
Lately with the price action from the 6.4K mark, it makes it more accepting as we go towards 10K (plus ?).
The next few months will be interesting and challenging for those who like forecasting on the macro level.
If you take a few things from this chart, it might be more acceptable.
Note: I'm not stating we will have support at the current level of resistance on the potential pullback as I havn't paid to much thought to where this might be.
It also has good reasons to be it at this point in time.
a) recently a massive swing move of 3K in a short period, implying many are in support of this formation?;
b) monthly chart almost confirming trend reversal;
c) middle section (of last year) looks like a continuation pattern from an upward trend "\\" pattern;
d) coming months will complete the next piece of the puzzle;
e) note the formations of the Macd and RSI , if you were to draw lines on the top and bottom of these indicators, they give the same picture.
f) other information:
i) highest levels of transactions have been recorded (on many cryto's including BTC);
ii) alts have had a good run and it remains to be seen if it continues;
iii) more institutions are using blockchain technology and investing in its research;
iv) gold and other precious metals going up in value;
v) USD (fiat) is losing ground - refer to its macro chart and hence why other markets are doing well;
All this and more could imply that in a few years, this mega bull run is possible.
Some say 50k to 100k. These numbers come from such hypothesis.
Hence if you accept this concept, maybe you should look at how your going LONG strategy is of current.
I'll update this chart as time ticks away as it will be interesting to me how we track against it.
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari /CryptoProspa
(for my reference > Macro.charts)
Other references:
Logarithmic growth chart
twitter.com/PositiveCrypto/status/1220007233335058432/photo/1
Crypto sniper
youtube.com/watch?v=HdNc-JeY300&t=190s
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Previous posts to this idea
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
ETH has a similar formation, previous posts
This concept is not unique to many but I haven't published this as an update since I heard of it over 6 months ago or more (from Crypto Sniper).
Lately with the price action from the 6.4K mark, it makes it more accepting as we go towards 10K (plus ?).
The next few months will be interesting and challenging for those who like forecasting on the macro level.
If you take a few things from this chart, it might be more acceptable.
Note: I'm not stating we will have support at the current level of resistance on the potential pullback as I havn't paid to much thought to where this might be.
It also has good reasons to be it at this point in time.
a) recently a massive swing move of 3K in a short period, implying many are in support of this formation?;
b) monthly chart almost confirming trend reversal;
c) middle section (of last year) looks like a continuation pattern from an upward trend "\\" pattern;
d) coming months will complete the next piece of the puzzle;
e) note the formations of the Macd and RSI , if you were to draw lines on the top and bottom of these indicators, they give the same picture.
f) other information:
i) highest levels of transactions have been recorded (on many cryto's including BTC);
ii) alts have had a good run and it remains to be seen if it continues;
iii) more institutions are using blockchain technology and investing in its research;
iv) gold and other precious metals going up in value;
v) USD (fiat) is losing ground - refer to its macro chart and hence why other markets are doing well;
All this and more could imply that in a few years, this mega bull run is possible.
Some say 50k to 100k. These numbers come from such hypothesis.
Hence if you accept this concept, maybe you should look at how your going LONG strategy is of current.
I'll update this chart as time ticks away as it will be interesting to me how we track against it.
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari /CryptoProspa
(for my reference > Macro.charts)
Other references:
Logarithmic growth chart
twitter.com/PositiveCrypto/status/1220007233335058432/photo/1
Crypto sniper
youtube.com/watch?v=HdNc-JeY300&t=190s
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Previous posts to this idea
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
ETH has a similar formation, previous posts
Note
RSI and MACD update
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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