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BTCUSD: If 2017 Descending Triangle Repeats? Best Case ScenarioPart 5: If Bitcoin Repeats History? I remind you of July 2017 descending triangle that completely overshot the measured target by around 12%. This is for all the traders who claim descending triangles never break to the downside in bull markets at the top of the trend. Bare in mind this was at the top of a full-blown bull market, after reaching a new ATH and 3.2x from April 2017 low. This was otherwise half way through the 2017 bull market from a 2016 low of $150, so roughly 20x. This is yet another example in the repeating Bitcoin history series to show how they do break to the downside, especially after parabolic bull markets. The extrapolated breakdown comes to a low of $5,350 (-43%) with a measured target on the Daily descending triangle of $6,875 (-27%). Note this is different to the Weekly descending triangle measured target of $6,410 (-32% see here ), and is therefore dependent on BTC breaking out of the Weekly descending triangle to the upside, while remaining within the Daily triangle, which isn't a lot to ask for. If Bitcoin Repeats History? 2012: Breakdown to $6,415 with 1 year consolidation (Part 4) 2014: Breakdown to $2,500 with 1.5 years consolidation (Part 3) 2017: Breakdown to $5,350 with 2 months consolidation (Part 2) 2018: Breakdown to $5,050 with 6 months consolidation (Part 1) 2019: Measured move to $6,410 to $6,875 (Part 2 & 5) That's a range between $2,500 and $6,875, with anywhere between 2-18 months of consolidation. Conclusion: Anything could happen. Look for clues. If Bitcoin Repeats History Series Part 1: Descending Triangle Looking Similar To 2018 Part 2: Measuring The Move of the Descending Triangle Breakdown Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low Part 4: If 2017 Descending Triangle Repeats? Extrapolating 2012 Breakdown
BNC:BLXShort
by dragononcrypto
3
BTCUSD: If Bitcoin Repeats History? Extrapolating 2012 BreakdownBitcoin 2012: Descending triangle breakdown to measured target of -20%. Price consolidated in a tight range between $4.21 to $5.30 after disbelief rally. 7 years later, Bitcoin 2019: Descending triangle with measured breakdown target of -32%. Repeating 2012 suggests a consolidation between $6,415 to $9,420 for 1 year. The time frames are very different, however the emphasis here is on a BTCUSD descending triangle at the top of a disbelief rally from the bottom of the bear market after a 250% (3.5x) rise. The measured move back then was -20% that Bitcoin achieved. The -32% breakdown target after a 340% (4.4x) doesn't seem unreasonable. Credit to KaliCrypto for the inspiration: If Bitcoin Repeats History? Part 1: Descending Triangle Looking Similar To 2018 Part 2: Measuring The Move of the Descending Triangle Breakdown Part 3: A repeat of 2014? Worst Case Scenario A $2,500 Low
BNC:BLXShort
by dragononcrypto
BTCUSD: A repeat of 2014? Worst Case Scenario A $2,500 LowPart 3 of If Bitcoin Repeats History? . This worst case scenario extrapolates the second half of the 2014 bear market going into 2020 with ATL at $2,500 and new ATH in November 2021, as well as reaching $30,000 within the same year. This assumes a double bottom will form in April 2020 prior to the halving, followed by 1.5 years of accumulation/consolidation, with a new ATH being made 4 years after the 2017 ATH.
BNC:BLXShort
by dragononcrypto
Bitcoin Next stop 2,60,000 !!We have seen Bitcoin rising and falling multiple times. Most of the investors consider Gold and Bitcoin are the same , which states the demand will rise eventually. But the important question is when?? Most of the people predicted the price to 50K by the end of 2018 which did not happen and now they are again predicting to reach 100K till the end of 2019. However, if the phrase" History Repeats itself" is correct, there are 90% chances that this prediction will match.
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by setrader33
Bitcoin Possible Trend move Hello! Today we will deal with the topic of everyone's acquaintance - Bitcoin. In the last few days, he lowered his price by as much as $ 1,500, whereby the beacon indicator and the handle (an indicator of something that will completely change the market for cryptocurencies) the scheme can see the possible peak that will most likely be reached in 2021. Do not worry about the period over which Bitcoin passes. The possible price at which it can find resistance is $ 6,500. Since the beginning of the year Bitcoin has been up 160% or else say about $ 5,500, one of the best financial assets.You can see the trends with fibonacci time zones.This is idea for the future not financial advice!
BNC:BLXLong
by CryptoWorldBB
1
Patience is keyBTC is creeping towards the very strong resistance level of 6000-6300, with current market uncertainty it is not yet clear if the level will be broken or not. News on tether and bitfinex will influence if we break the level, although lot of it is already priced in with the knowledge that 40% of capital is already moved off Bitfinex. While the case will be cleared next week manipulation by institutions goes on. Although there are many signals that price will turnaround at this level. Bearish -bearish divergence on RSI -bearish divergence on volume -weekly 13 TD sequential candle (sell setup) -dayly 9 TD candle -Strong resistance level and trend line -Greed indicator of 69 Bullish -price action, still hh and hl -fidelity opening -FOMO -tether value moving into btc -a LOT of shorts, which will be liquidated if we break 6300, when that happens it means that the bullish institutions are doing the money dance. Best to do right now is have patience and not fomo into BTC, the trend cannot continue forever we need a correction. Best option is to short in the 6300 range after we see a rejection of the level and a retest. And when the NVT goes back to white (look at nov-dec it indicated the drop). If we drop target T1 5000 as first support and T2 4700 (20weekly SMA)
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by DemKos
1
i wish i had more money to buy bitcoinclearly we are in some very bullish territory on the weekly. I only trade on the weekly time frame because I like long term investing strategies over scalping or short term trades. Worrying about what's bitcoin doing tomorrow? Honestly I don't care. I'm interested in long trends, this is where I'm more successful and not so into my head on missing out and making dumb decisions. I am really starting to get excited for this market. I believe we are in the beginning of a long term bull trend on the weekly. This is making me wish I had bags upon bags of cash to purchase more bitcoin. However, I will start adding more to my holdings each week with any free money from my paycheck. I believe it is a wise time to take advantage of this market. Let me know where you guys stand on the market, and what your plans are for the future of investing in this magic internet money. good day! disclaimer: this is not investment advice for anyone other than myself. what you choose to do with your money is your decision. This is merely my ideas and beliefs on what i see in the market.
BNC:BLXLong
by DavisHudson
1
Bitcoin to $100k - $300k by Dec 2021This prediction made possible by transposing a similar pattern from the previous bear market. Assumptions that 1.) the bottom is not in yet at $3,200 and 2.) The next ATH will be at the end of 2021 when everyone is talking about Bitcoin at the holiday family gatherings like in 2017. If the forking of Bitcoin Cash to BSV caused the price of Bitcoin to go fro $6k to $3.2k then there may still be a possibility Craig Wright could sell his Bitcoins just to drop the price of Bitcoin in retaliation to having BSV being delisted from Binance and other exchanges. Conspiracy theories aside, there is also some chart TA that can also show we may capitulate to $1,800 with support at $2,550 before we break resistence at $3.2k and start the next bull run. All being said.... I am still going to dollar cost average in at every chance I can get. The Bitcoin fundamentals are stronger than ever, instituional money is already here, and buying Bitcoin has never been easier with a simple touch from your smart phone. It would not surprise me if the next ATH comes sooner rather than later.
BNC:BLXLong
by CryptoHodl3
3
Bitcoin, what can we expect from you in 2019?Scenario 1: We drop towards the 200 SMA (around 3.5k) breaking it immediately or forming a triangle like the blue one you can see, getting rejected by the trendline and dropping afterwards... (Red line drawn)(This Scenario becomes more and more likely we are dumping towards the 200 SMA ) Scenario 2: 3150 was the bottom, breaking the long term trendline going into a longer consolidation phase and moving slowly upwards like we did in 2015 (Blue line drawn) Scenario 3: 3150 was the bottom, breaking the long term trendline and, testing this year the 10k. (Green line drawn) Scenario 3 isn't very likely in my opinion
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by JonnyM92
1
Bitcoin and the battle of two trendsBitcoin has two trends quickly coming to a cross roads. Which one will win? Look at this chart and truly ask yourself which trend is stronger right now. To me bulls are giving it a go but sadly it still looks like the bears are still in control. Huge bear flag formed and coming up again really strong long term resistance and that pesky resistance of 4200. If we don't break 4200 and close above their before mid March, looks like some more downside to go still and may test 2013 ATH.
BNC:BLXShort
by moarbtc
4