BTC Buy from $2000's Long Term outlookHey Guys, just wanted to share a couple of charts and ideas's with you all, in an effort to gauge the current market structure and get some feedback.
What I take away from this study, is a very bullish sentiment for Bitcoin.
The market structure tells me there's more hurt to come in the future and we may bounce and consolidate through the range until we reach a breakout point.
I think in most scenario's we're going to likely see the 2k range (possibly a dip lower than 2k), which honestly makes me happy. I'd love to grab more discounts before the future bull run.
As you can see, we're still consolidating within a large triangle on the monthly/weekly. with a breakout point next year. That would still be inline with previous trends, that saw ATH's occur around 100+ days after the Halving event.
We also have a possible bull flag pattern occurring on the weekly as well, which includes a possible ABC corrective pattern for a bullish continuation.. The yellow trend that acted as resistance in mid 2015 and a support in 2016, would also line up to act as a future support at the (C) corrective wave and provide an extra point of confluence.
I'm leaning toward to this as the final outcome. I'll be loading bags here in either scenario.
Let me know your thoughts and ideas re; the future of BTC.
Cheers,
