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OCT COULD START THE BEARS LEG TO 20K? BIG SHOCKING DUMP COMING!!Will Oct be the start of yet another leg down in the entire crypto market? Can BTC break below 20K GET READY FOR A RETEST THAT WILL SHOCK THE CRYPTO COMMUNITY SAYS BITCOIN GORILLA🦍, Today 6th oct BTC is encountering a big phase that could affect the upward move recovery/ My analysis has been pointing 20k since April 1st, and I am still 100% standing on that because my odds has not shown me any signs of change that BTC is not trapped and could potentially fall to retest the 20k to 16k support area. Get ready so it won'y take you unaware. use stoploss to protect your current profit. this recovery phase is showing signs of ending and we can potentially start seeing another leg down rom here. if BTC encounter 40k one more time, just know that it will most likely destroy that support this time. This is just my opinion, patient is your biggest asset, the 20k we cry is here than you think!. Thank you for supporting me with your likes.
Short
by MachiavelliTrader
3
BTC testing 200 SMA, The Bitcoin Bulls are Back! $74,647 🎯The Bitcoin Bulls are Back! After setting a new ATH @ $64,841 in April, Bitcoin experienced its the first major sell (some may say manipulated) off in this Bull Run Cycle (-50% from the top). We have been closely watching the BTC chart for a strong trend reversal signal. From the ATH @ $64,841, Bitcoin formed a triple bottom in the $28-30k region, the last bottom experienced on the 21st July is confirmed as our bottom here. The Swing Call Script gave further confirmation of the strong trend reversal as a Buy signal was triggered on the 4H Chart on the 22 July and further on the 6th August showing strong signs of bullish momentum back into the market. From here we expect BTC to retest the current ATH @ $64k which is a 40% Gain from the current price @ $45k. Further to this, we can expect some heavy resistance between the 61.80% - 78.60% fibonacci level. A clear break past the 78.60% fibonacci level see BTC setting a new ATH at the 127.20% fibonacci level. Please see previous analysis below. Happy Trading :) BTC finally testing the 200 SMA and is showing strong signs of bullish momentum as we see the BTC Bulls coming back into the market 🚀. After 4 failed attempts of trying to break above the key resistance @ $38,595 BTC has finally broken above this key price level. Since the crash BTC found its Bottom tanking down -51% on the 19th May to $28,787 from $57,777 and had previous retraced from the ATH price @ $64,841 to $46,814 (-27%). BTC has been in a whale accumulation zone for the past 27 days from 19th May to 15th June. Our Swing Call Script triggered a strong buy signal for #BTC LONG when the 13 EMA crossed up above the 50 SMA on the 10th June; BTC has since increased over 10% in just over 5 days. From the current price level we have longs positioned and the current TP 1 is at the 127.20% Fibonacci level @ $74,647 (85% gain from current price level) and TP 2 at the 161.80% Fibonacci level @ $87,122 (116% from current price level). Note the price targets are for long term swings, we may be in this accumulation phase a little longer. Happy Trading :). See previous analysis below. Bitcoin Update 02/04/21 Next Target @ $66,953 13% Gain New ATH in April I've loved charting BTC last Month, analysis has been quite spot on just waiting on our new ATH now @$66,953 13% Gain from current price level. #Bitcoin has found key support around $58k price level. It looks like the Bitcoin Bulls are back in the market. Worst case scenario from here in the short-term could see the price test the 50SMA, and breaking below this level would see another test of the 200SMA before the anticipated move to the upside and our target of $66.953 at the 127.20% Fibonacci level. See previous analysis below. Happy trading :) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from £BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 #BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance , law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
2
Bitcoin next Target $66,953 at the 127.205 Fibs (21% Gain) Update 29/03/21 Bitcoin next Target @ $66,953 21% Gain Nice bounce from the whale accumulation zone at the 78.60% Fibonacci Level. Looks like the BTC Bulls are back in the market. See previous analysis below. BTC Monthly Outlook Update (23/03/2021) Approaching Whale Accumulation Zone at the 78.60% Fibonacci level @ $52,371. Interesting next few days from here as a bounce from the 200 SMA at the whale accumulation zone could finally see us break through the key resistance at the current ATH level from 14/03/21 @ $61,690. April is set to be a very interesting and pivotal month for the cryptocurrency space. See previous analysis and monthly outlook below. Happy Trading :) #whaleaccumulationzone Update 21/03/21: Yesterday the Bulls failed to push the price higher and we had a small retracement down from $59.5k to $55.6 where we found some support of the current price level (-7%). From here the worst case scenario would find us in a key whale accumulation zone @ 78.60% Fibonacci level $52,371. However this scenario is unlikely to play out and as expected from the previous outlook before, we expect the Bulls to come back in the market, pushing as further to higher highs as we have been consolidating around this key price range between $54.5K to the current ATH @ $61.8k. If we fail to break past the previous ATH , the bearish scenario may see a test of the 200 SMA around the 78.60% Fibonacci level, otherwise the Bullish scenario is still in play. Note that from this current trend from 28th January we have only tested the 200 SMA once and a bounce from this level may signal a much stronger bullish move towards our price target $77,335 @ the 161.80% Fibonacci extension and further $107,340 @ the 261.80% Fibonacci level. So far great performance this month from BTC as March is usually quite a bearish month looking back at the past. April looks ready for us to really fly, testing the 161.80% Fibonacci extension , but note this may not be a straight forward push but all the fundamentals are pointing towards the $70K as our next significant area of interest for the Bulls, currently a 16% gain from the current price level would see BTC reach $66,953 127.20% Fib extension. See previous analysis from 1st March 2021 below. Happy Trading :) $BTC #HODL *Update 20/03/21 BTC Monthly Outlook Update from 1st March 2021; 13 EMA crossing up 50 SMA showing strong bullish sentiment as we are about to enter the last week of the month, expect the bulls to come back and to push the price higher. Currently the 127.20% Fibonacci Target ($66,953) has not been tested yet, but we expect some big movement in price over the next few days and further going into the last week of the month (Yes, it has been March Madness), 13% Gain from the current price level @ $59,390 to $66,953 127.20% Fib extension. Our next target after this is $77,335 @ the 161.80% Fibonacci extension . From our analysis at the beginning of the month It looks like scenario 2 has been in play, see below previous analysis from 2nd March 2021. In addition to previous price analysis, the Cryptocurrency 'Super Cycle' is in play as we are just at the brink of global adoption. 2017/18 was the hype era, we cannot continue to set targets based on the price movements during the cycle mainly fuelled by hyper and euphoria, it is now 4 years later and real development has been happening behind the scenes, a lot of people cannot quite comprehend the growth and the different cycle that we are now in as Moore's Law of exponential growth can only give us a hint at the growth that is about to be experienced over the next 4 year cycle. An increased influx of capital injection into this now trillion dollar market will only continue, as Defi takes its hold on current Global financial infrastructure, and yes history repeats itself, We call this the 'Roaring 20s' just like before at the end of WW1, the pandemic has only accelerated the current adoption rate of blockchain technology. As some are already aware, the best time to grow a million dollar portfolio was from 2009 to 2019 just after the housing market crash. The second best time in our lifetime is Now! from 2021 to 2029 after the pandemic market crash. We are still very much Bullish for BTC to reach our EOY Target of $356,000, See below key fundamentals which support our bullish sentiment. *(March 02, 2021 Update) BTC is currently consolidating at 61.80 Fibonacci Level. BTC outlook for the month ahead is still very much bullish . Although the sellers have been in control of the market since soaring to a new ATH on 21/02/21, BTC took a sharp retracement as expected at these new level of resistance as well as a new ATHof$58,792 on the Gemini Exchange. As from historic highs we see a lot of profit taking occurring after 3 weeks of setting new constant highs from the previous low of the last push wave which saw BTC setting a high of $42K and then sharply retracing down to $28,787 where we found the previous resistance and also the beginning of the last phase which saw one of the greatest run of Bitcoin in history, reaching the current ATH of $58,792. With the current push phase now over we find ourselves asking how low can we go from here and when do we expect to break past a new ATH . This outlook is based on 2 possible scenarios which could both play out. We have seen the 50% Fibonacci retracement level respected on the last 2 Push phases which both set new ATHs, the first being $42K and latter, the recent high of $58K. As we have seen a strong retracement over the past 7 days back down to the 50% Fibonacci, it may be time for the BTC Bulls to regain control of the market as the current fundamentals point to the 50%-38.2% Fibonacci level of key resistance as well as a point of accumulation for the BTC whales, more importantly the $39,000 mark when looking left at the previous key resistance before the parabolic move to the $58k ATH . With this in mind, from the current levels we could see the price of BTC sink further before the much expected move which could see BTC testing the previous High of $58k and further pushing to the 127.20% Fibonacci extension level setting a new ATH @ $66,953. Scenario 2 would see the current push towards the ATH continue but may face some resistance, and further consolidation expected around $46k-$49k as they are the key Whale Supports towards the upside, so a further retracement could be in play, possibly testing the 50% Fibonacci level, as well as the 50 SMA , with a bounce confirming an explosive move to the upside which could see BTC easily smash past the 127.20% Fib extension level setting new fresh Highs between $67,000-$78,400+ by mid to late March. Use the buy zone indicated to map out your position as a possible 52% gain is achievable from the Buy zone. Stochastics showing an extremely oversold market condition. Happy Trading :) * Key Supporting Fundamentals for BTC: Strong Interest of Institutional Players A survey of institutional investors and wealth managers who already engage with bitcoin reveals that 85 per cent plan to increase their investment in the cryptocurrency over the next two years. The survey, which was commissioned by Nickel Digital Asset Management (Nickel), a regulated investment manager connecting traditional finance with the digital assets market, also reveals that between now and 2023, 72 per cent expect professional investors in general to invest in bitcoin for the first time or increase their exposure. Current Economic Instability The policy of the US Federal Reserve and the economic instability that has arisen as a result of the unprecedented emission of new dollars may further play a role in the growth of Bitcoin price...10% of the $380 billion stimulus money could be going directly into cryptocurrencies and Bitcoin . Digital Gold Crypto currencies certainly look as if they’re here to stay. It makes a lot of sense to have them in an increasingly digitised world. While bitcoin has a strong tendency to polarise opinion, it has now gained acceptance among some of the world’s largest financial institutions and payments companies. MasterCard, for instance, has said it will begin supporting crypto currencies on its network later this year. PayPal already allows eligible users to buy, sell and hold bitcoin in the US and expects to roll out its service in other territories soon. The Case For Global Adoption and New Reserve Currency Cryptocurrencies promise to help solve problems that are particularly acute in emerging markets (EM). Their governments are often centralized but relatively unreliable, which destabilizes currencies, opens the door to profiteering middlemen, and erodes public trust. Blockchain, the technology behind Bitcoin’s decentralized network, promises to cut out the grasping hands of governments and middlemen, and speed up transactions with more transparency and lower fees. It is offering what many EM customers are desperate for. The Development and Extensions of Blockchain Technology Due to the nature of blockchain technology’s ability to benefit all parties involved in different business operations. Since it was introduced in 2009 through the application of Bitcoin , blockchain technology continues to attract not just the financial institutions of the world, but also other fields and industries in insurance, law, entertainment and the Internet of Things ( IOT ) applications. Several scholars and advocates have also strongly suggested the use of the technology in voting systems globally, medical records and vehicle registrations by the state to further increase efficiency, simultaneously eradicating fraud in many areas. This technology does not only aim to improve conventional business operations but can also empower the greater society out of poverty as 1.7 billion adults in the world remain unbanked. The widespread adoption of a cryptocurrency like bitcoin running on the blockchain would mean that anyone with access to the internet can send and receive value from point A to B without the need of a third party. Although many Banks were very hesitant and in fact spread fear in the markets due to cryptocurrencies being linked to nefarious activities on the dark web. A recent study by Goldman Sachs suggested that the adoption of blockchain technology in facilitating seamless cross border transactions without the worry of fraudulent transactions could save up to $6 billion a year; as the new models currently being developed by the bank would mean inefficient payment and accounting networks would be eradicated.
GEMINI:BTCUSDLong
by CryptocurrencyMagnet
Bitcoin Working on a Wave 2 Correction (Downside Impulse)I'm expecting BTC to complete a 535 correction back up towards $58-$59K. Stronger downside should continue afterwards. Bears are currently in control for the short term (days). LONG SCALP Within a zig-zag, the following rules apply: Wave A - can be impulsive or diagonal (in this case it was a diagonal). Wave B - can be any 3 wave corrective pattern (in this case it was a zig zag). Wave C - can be impulsive or diagonal (in this case it must be impulsive). Note: Wave A and C cannot both be diagonals, however they can both be impulsive.
BITFINEX:BTCUSDLong
by DigitalSurfTrading
14
A touch at $42k then to a new ATH and beyondOn the BTC 4hr charts, it appears we have matured into a descending wedge with at least a rising wedge and a symmetrical triangle contained with. The 4hr time frame seems to be on track to extend the bullish hidden divergence further too. With the Fib Retracements from the swing low of the last consolidation bottom and the all-time high, ironically, $42k is not just the target of the broken down symmetrical triangle but also the golden pocket on the Fib retracement. With this much confluence around the $42k, a bullish leaning descending wedge and bullish hidden divergences extending on the 4hr timeframes, surely it's only a matter of time before Bitcoin touches $42k and the bulls step back in and defend the previous all-time high of $42,000. Expect to see a wick down and fast shot back to the upside, break out of the wedge to the upside, meet the technical target of the top of the wedge/ all-time high and rocket onwards... Could this be the last pattern before we reach the promised land of $100k?
BITSTAMP:BTCUSDLong
by wallshut22
1
The Infamous BTC Bulls Prepare to Test Bear's Strength @ $41.9KSmall charts under 1D have been extremely choppy which has made for a ton of liquidations on both sides of the market. I myself included. Thank heavens for risk management and stop losses. Zooming out to the 1D chart, we can see a much clear picture and pattern at play. The previous Leading Diagonal formation which I was expecting to play out, unfortunately has already occurred without my notice. Being that Wave 4/1 jumped into the area of Wave 1/1's price zone. Now that we're beyond the completion of Wave 5, we can expect the price to retest the very tip-top of Wave 1/1 (near $41.9K) This is essentially do or die for Bitcoin Bears (and Bulls alike; without $42K - the great reset is still possible). The current zig zag levels also point toward the $41.7K price tag. With A = $9641 in price, we can expect corrective Wave C to be near equality. Looking forward to seeing how this pans out. Still confident in the Big Bear :)
BITFINEX:BTCUSDShort
by DigitalSurfTrading
Bitcoin Bulls Vs Bears (why You should Wait to Buy PULLBACK)Bitcoin Bulls have successfully kicked 11700 as** like its no mans business but then it looks stuck or should I say trapped? with the bears growing in strength with each bear trend bar, bears are trying to force a pullback to below 11k zone possibly I see the 10800 to 10500 zone just where price broke out from the pennant earlier. Thanks for reading, Liking, Commenting and possibly if you are new here start by clicking the follow button on this post. Yes the bulls are serious about the Bullish trend on the Bigger trend channel as bears have failed to break out of the (big channel highlighted in green trendlines) but inside this big trend channel is nested some smaller trend channel created by the past few days pump by the bulls. If you are well known to Price action and channels, then you know that its likely we retest the start or beginning of the small channel at around the breakout point from the pennant also nested inside the bigger Trend Channel. OH Yes! I know the fall wont be easy because of the current trading range form around 11200 to 11700 zone meaning chances of breakout at either side is high but......Retest of breakout point looks higher at the current point.
by MachiavelliTrader
5
Bitcoin Bulls are you READY!Anyone here looking to trade bitccoin needs to make shure they are prepared for the the incoming gains. we spent alot of time in the oversold portion of the stoch rsi. we also see that we produced a technical double bottom in the price and the RSI. that's insane! there are two points where we are seeing divergence, the stock rsi and the cci. this tells me that selling has slowed, yeah of course the end of the tax year was yesterday, get that tax loss write-off and then buy back in today right ;) if we do pullback it will be just like in nov-dec in 2018 quick drop but follwed by quick rise, but the indicators arent bs'ing you!! The Bitcoin Bull's are ready to break through all the bearish sentiment. theres some many small details pointing at a reversal soon hopefully everyone enjoyed the rest of the new year and the great gains you make this year. this isn't some bs write up with excessive technicals and over complication just to get followers. either way the market does whatever it wants to do. trade at your own risk if your thinking of using leverage and wanted to open a account on bybit.com use my affiliate link it helps me out. (: www.bybit.com
COINBASE:BTCUSDLong
by birdy619
2
BITCOINWILLNEVERDIE: IF WE TAKE OFF ITLL LOOK LIKE THISThe fight upwards is still in play however the play downward is always an option too lol. If BItcoin were to really make a spike upwards, I think it'd look a little something like this. With multiple level of resistance to pass, this could very well be a long journey up to The Big Battle at 10.5K. Here is where I think we will see what BItcoin's winter will really look like. Hold tight bulls. Let's run it up baby.
BITSTAMP:BTCUSDLong
by UnknownUnicorn5320750
11
A Clear Cut View of the Bulls Macro PathHere is an in-depth analysis of what to expect for bitcoins run up in to the end of 2020. Using Backtested Extrapolations of very key points in Bitcoins recent history I have been able to define a path way of which bitcoin has been following thus far to a "T". Being that the bull runs will become more elongated each time we have one, we are looking at a double up in the amount of time it will take to complete this one. Our last bull run lasted an apprx 360-365 days (depending on where you land the specific dates). Starting our ascent in December of 2018, bottoming out at around the $3k level, we have shown possible strength to have already started this next bull run. If it was a disbelief rally, I do believe that the 5500 Confluence of Resistance plus the massive cluster of resistance between $6k-$7k would have held us down to continue the bear market back in early 2019. Proving the impossible possible the bulls sliced through it like warm butter and hot knife. We have touched $6.5k for a brief period of time in Mid November 2019 and have rebounded from it quickly and stayed about the $7k mark. Shown by the green diagonal support lines (representing the 200MA zone) it can be deduced that we may see $6.5k again but as long as the support is not broken we will be accumulating sideways till Late Jan 2020- Early Feb 2020. to bring us through the 2 year anniversary of the Bubble pop of 2017 (being a major psychological time period for bitcoin traders, although you should learn to get used to it as you will soon see a pattern ;) ). Projected 2nd Run up will peak at the Bitcoin Halvening for 1 fact and 1 fact only, "LET THE FOMO BEGIN". Its known in Bitcoins history that the halvening has marked a spark of green in the candles causing a savory spike in the price that traders do not choose to be left out from. I for one can understand this completely, but looking at it from a health market point of view, this would be the second (textbook) Run Up needed to be able to prepare for the parabolic rise that is known as the Bitcoin Chart Pattern. Not only (as indicated by the grouping of the 3 vertical lines in specific areas) does time frames of 6months separating each key event in bitcoins recent history we can speculate that May - June 2020 will be another trend cool-off with a classic 40% decrease in price (as we have just experienced with our rise from the ashes to $14k). It is only healthy for the market to pull back before having its time to shine Remember as the Bitcoin veterans have always done... Keep Calm... and HOD'L On Peace out All, CryptoGavin
BITMEX:XBTLong
by Gamblers_Paradise
3