Long

The road to 8k Bitcoin and...

Updated

See the drawings and predictions. This is purely my analysis and may completely turn out to be different. I wish you all good luck.

Note

In case you are wondering about the MACD, the current signal stays at -950 and the analysis requires it to go down to (-1500,-2000) range. This is expected to happen within 2 weeks from now.

Note

We are now at 8k Bitcoin! Note that this drop was quite fast compare to the 2 weeks expected period. This means we are more likely to see lower level of my buy zone area. Sharp drops are usually followed by a sharp rise and a retest of the lower levels.

At this point, the level to watch is 7500k and if we close below this level, I believe we might see 6k Bitcoin again. Remember that the strong bull force started around 6k as well. Usually the wave fall short of the starting point and very sharply comes back. This means we might go with a sharp drop to 5k and then come back up sharp to 6k and then slowly get back into a rising trend. All in all watch 7500k carefully and good luck to you.

If you wonder, my strategy is to avoid rushing into buying lows at the moment, I will wait for a retest and confirmation before placing order. You might be able to scoop up some really cheap Bitcoin but it comes with a high risk.

* Disclaimer, this is not a financial advice, take it as a record of my experience and only make decisions by yourself. I wish the best to us all.

Note

We are now touching the 7800$ Bitcoin. The indicators show a strong sell in play. This confirms my earlier update that we have to watch 7500$ level and see if the daily candle closes below that level.

Strategy: Selling at these prices are extremely risky and best strategy for hodlers is to continue holding. This market may take around 3 months to recover but without a doubt it will get back to 20k level as Bitcoin is being improved.

Note

I believe we will drop to 250 billion total market cap before any reversal begins. Watch the total market cap carefully.

Note

As expected Bitcoin hit precisely 6k and bounced back up and continuing. If you did not buy at 6k then wait for the second dip with a higher low around 6800 or 7200 for a safer entry.

farshidhss

Disclaimer

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