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Bitcoin-longterm

Bitcoin 64895 or 10000 Extended analysis, must see!Dear traders, Bitcoin seems to have sunk through the floor but is it really? I wanted to check that out and to do so I checked 10 years of Bitcoin history. What turns out, the Rsi of 32.39 has only been lower 4 times before in 10 years. It was Oct.2014, Jan 2015, Npv 2018 and March 2020. That means we are extremely oversold on Bitcoin at the moment. Together with the ultra low fear index, it can hardly go lower or there will be a real crash. If we look at the volume during the decline it is extremely low. On the contrary, you would expect that with Bitcoin dropping so low, volume would increase. What facts are there that could give a turn for this bearish looking scenario at this time? 1. Very low volume for Bitcoin, see chart. The real volume climax has already been on May 19. 2. Long-term trend line not hit yet. 3. Support on the long RSI and an ultra low. Only 4 times before have been so low in 10 years. 4. A very low fear index. This much fear is a contra indicator. 5. The manipulation done by the big funds to shake traders out of the tree. 6. Large funds also know that a bitcoin at 30,000 triggers a bear market. I think that's why they keep the price above the long trend line. that level is at 32500 currently but rising. 7. The 4 year cycle normally does not end until early 2022. 8. The drop went exactly to the 0.618 fib level and that almost guarantees a solid bounce. It is also a correction and not yet a bear market in Crypto currency markets. 9 we see a bullish falling wedge targeting the old all time high at 64895! If Bitcoin does fall further and tests the old bottom, the longer term trend line has been broken as well as the RSI. So we are definitely at a crucial point now. If we close below 33200 with a convincing close, I think this bull cycle is over on the other hand if we do not go lower the 33200 level we will probably see the old all time high . Dear friends, please comment on these findings. What do you think, what other facts are there that could allow for a further bull market until the end of the year. Good luck with trading! Disclaimer Traders this is my view, no advice to buy or sell. Also always do your own research! --->> Traders please follow me for updates and give me support with a like 👍 if you like me to continue this work. Thanks 💚
BITSTAMP:BTCUSD
by PegasusTechCharts
46
Philosophical approach to Bitcoin All the people in the world that have a good understanding of economics, history and technology can fully understand the value of Bitcoin. I will not get into further details to support my argument feel free to do your own research on the web. Some point in favor of Bitcoin besides its fundamentals are the following: 1. Square holds it 2. Tesla holds it & accepts it 3. PayPal accepts it and probably holds it 4. Visa & MasterCard also did some bold moves 5. Jpmorgan & Goldman to let customers buy it 6. Regulation is speeding up and I expect all S&P500 companies to hold it by the time all the legislation is passed. 7. Major global finance stars openly talk about it and state that they are holding it 7 bold points to think of your own. Do you think all these different entities are wrong about the future of BITCOIN??? Now as we all know Bitcoin is using energy to run the network. However in the upcoming years in the name of global warming are going to be the BIG TRANSITION years from fossil fuels to renewable. As a result I am expecting some really big inflation in electricity prices especially in US & EU. That will make imo lots of miners in the western world unsustainable compare to China were they are not going to be 100% compliant with laws about the environment. Therefore their energy cost will be significant lower vs the rest of the world. If their cost is gonna be lower than the rest mining competition there is good chance that they will be in a position to mine a large part of the remaining bitcoins. US is aware of that of course and that’s why the are in a hurry to regulate everything so that their institutional investors can start accumulating. As inflation hits electricity I am expecting the major 2nd wave of correction of the 1st wave of the Bitcoin super cycle that started back in 2008. This is where all the retail is going to be losing money and really doubt it’s decision to hold bitcoins. The length of that correction is going to take a lot of time because people lose hope when prices keep falling for a big period of time rather in a short one like we saw on COVID case.
BITSTAMP:BTCUSD
by Philoslother
2
You need a dollar dollar, a dollar💰 on Bitcoin...!!!30-min chart - New "Value Area " negative sign (U-turn) R-8912 nearby The "Parallel Channel" price congestion expected with decisive zone : still not clear up or down...? ==> ✍ Kindly Vote in comment , what you think Plan A or B? Weekly Trouble/Downtrend: This is the road of the Bitcoin, we can see where it goes together You & I know, trend is downward from this pattern. Bad times are coming and I & you reap Dollars, isn't it? It's been a long old trouble long old troublesome road below 8241 w hich can push price down free fall. Last Selling Successfully Target achieved of Bitcoin:
BITSTAMP:BTCUSD
by Jay_shree
393
BTC above weekly MA200 always bullishHello! So of course as we can see, big surprise, BTC is not anti-correlated with the stockmarket and other assets, as many people would have hoped for. Instead, BTC dumps when the stockmarket dumps, and pumps when the stockmarket pumps. This is disappointing, but we kind of knew it of course already by comparing the BTCUSD price with the SP500 since 2010. There was always correlation on longer timeframes. The current virus crisis is hammering down almost all asset classes. BTC is no exception, and the question is now: How deep will it fall? Technically, down to MA200, BTC is still very bullish, and we get our new ATHs in 2021, it might only lead to a small delay in the ATH of a few weeks to a few months maximum. I tried to draw these two scenarios. So either BTC sideways from here and then starts to climb (green), but a real possibility is the red curve that brings us again down to the weekly MA200. Even a flashcrash below MA200 is possible, as long as the weekly closes at or above MA200. Should we go below the MA200 and stay there without a strong bounce reaction, then we could see a longer BTC bearmarket, which would also shift the 100k ATH target to 2022. From a technical perspective, BTC remains longterm bullish as long as it stays above 1200. That should be doable, hehe! The halving will ensure that the price will go up again, together with the other rising network metrics such as transactions and hash rate. It's just of course annoying that this whole affair is dragging BTC down and postponing the ATH. We have to see now how much it will be postponed. But as longterm crypto investors, we should be patient, else we cannot succeed in this market. There is no "get rich quick" in crypto.
BITSTAMP:BTCUSD
by SebastianofMoon
11
BTC - Monthly BullishnessThe monthly chart is quite similar to back in 2016, where the bullish cross of the 10 SMA (red) and the 21 EMA (yellow) pushed the price a lot higher. BTC in 2016 had a long consolidation after an impulse up, and the price got pulled into the cross. Similarly to now, where after a huge spike in the price BTC has consolidated for a while (4 months so far) and is now being pulled into the cross of the two moving averages. - The monthly stochs were accurate in calling the bull market in 2016, and it is doing the same thing now in 2019. This also emphasizes the long term bullishness of BTC. This can be a positive sign, but can also mean that it will take time for BTC to start to gain momentum back to the upside. Also when you think about the halving next year, BTC has never surpassed its ATH's of the previous bull cycle, so this means we shouldn't expect BTC to pass 20K before the halving next year on the 13th May 2020. Let me know your thoughts below!
BITSTAMP:BTCUSDLong
by olleyy
2
Bitcoin | USD - Long Term ViewWith all the charts I see on trading view very few people are planning well into the future or even looking at charts on larger time frames. I wanted to share with you my thoughts for bitcoin and the future of crypto in general to give new traders a better understanding bitcoin in general. The bitcoin network just reached 100 100-quintillion hashes and is expected to increases with that same amount every 2-3 weeks. Bitcoin is a cryptocurrency which isn't managed by a bank or agency but in which transactions are recorded in the blockchain that is public and contains records as such miners are required to secure the ledger and to process the transactions. At this point in time the bitcoin network has more computing power than all the super-computers in the world and as such provides extensive security to the system. So where dose the bitcoin value come from? Quite simply "freedom" with bitcoins decentralized nature and vast costs weighed by mining farms Many people, even well regarded figures in the crypto world, like to say Bitcoin is a store-of-value (SOV), just like gold. But when you look at it from a fundamental valuation perspective, this is not an apt comparison. To make the comparison with gold work, Bitcoin would need an economic use case, just like gold. For Bitcoin, that use case would be as a transaction currency. So let’s look at the MV=PQ equation again, which shows how a currency can be valued. For example : Bitcoin achieves a velocity of seven 10 million of its 21 million coin supply is freely traded for economic transactions Total value of transactions (“PQ”) is $700 billion V = 7, PQ = 700B and we are solving for M. M per freely-traded Bitcoin = $700B (PQ) / 7 (V) / 10 million = $10,000 Bitcoin market cap = $10,000 per Bitcoin * 21 million Bitcoins= $210 billion. Our assumptions plugged in result in a price not too far off from today’s Bitcoin market cap. Of course, this also shows that 1) the more transactions that occur with Bitcoin and 2) the lower the freely traded supply, the greater the value of each Bitcoin. Bitcoin has a solid future ahead at some point more energy efficient miners will become available in turn lowering the cost to entry for mining and adding more computing power to the network. The last bitcoin are not dew to be mined until the year 2140 with fee's being the main source of income once block rewards have gone. We are in a hashrate arms race to scoop up those coins and build for the future.
BITFINEX:BTCUSDLong
by Delta_Traders
1
BTCUSD: Gann Box TA Perfectly Predicts Every High And Every Low!I recently took a look at the long term logarithmic Bitcoin chart using the Gann Box as a technical analysis tool. I WAS SHOCKED! The Gann Box perfectly predicted every single high and every single low amazingly accurately. It pinpointed the exact highs and gave you a beautiful accumulation zone with which to buy the lows. I mean what more could you possibly ask for?! So now we can predict the price axis and that might be more than enough for most people, but how about the time axis? Where on the Gann Fan will bitcoin peak? Extending this technical analysis out into the future to try and predict where the next high might be meant I had to make some calculated assumptions regarding three factors surrounding time. 1) We will test support for an extended period of time just like the prior two cycles. 2) The price doesn't break new highs until after the halving event. 3) Each bull cycle is longer in duration than the last. Assumption 1: Support will be tested for roughly 230 days, the same as the previous cycle. Assumption 2: New highs will be reached 170 days after the halving takes place, the same as in the previous cycle. Assumption 3: The next bull cycle will last slightly longer than the last, just like the 2017 bull market lasted slightly longer than the 2013 bull market. With this information we can predict a price range target of between $5 Million and $15 Million within a range of time between September 2021 and June 2022. This is not financial advice, just a calculated prediction.
BITSTAMP:BTCUSD
by Markster
3