Bitcoin, where are you going?Bitcoin has shattered the expectations of recent our recent charts. The bulls are in, and proof is in the chart and history. Taking a look at the 1W chart, the MACD is showing that it just began a long bullrun.
Second, take a look at the green boxes. Whenever Bitcoin started moving up.. it kept going up. There is no time in its history where Bitcoin moved up which was interrupted by a massive sell off.
Shorts vs Long: There are two ways of making gains here. You can short, buy back in with more capital for even greater gains (by percentage) or you can long this. It seems like we are heading into another summer bull run. It seems like Bitcoin is more and more of a safe haven, specially since China is trying to digitize their currency more and more. 3rd world nations are also going into Bitcoin as well, but as great as Bitcoin is, it will never replace Gold as THE safe haven asset.
Targets: $15,000-20,000
Disclaimer: Bitcoin is a relatively new investment. Bitcoin like every stock, future, commodity is manipulated. With that being said, there is nothing stopping a massive sell off without warning. This is the risk to cryptocurrency. You can foresee stock market, fiat declines based on the health of the economy. The same can not be said about crypto.
This chart has completed the bear market. It is showing a great bullrun, correction, and continued bull market.
Btcbull
BTC.DCleaned up the BTC.D chart, as I feel now that bitcoin dominance is in a consolidation phase along side BTC price action. The D1 BTC.D chart has a falling wedge that is right below the 200 ema.
I am almost 99% certain it will break up leading to another pump in dom & price of bitcoin.
68% will most likely take a few attempts B4 finally failing as BTC breaks up along with dom & heading towards the 200 ema weekly chart.
There is some room for downside here to $5,500 level but thats really all I see and will probably be a great buy for a TP of $9600 next major area of resistance.
BTC - ONE MORE iH&S COULD BE TRIGGEREDThe BTC is consolidating in the ascending triangle which could be the right shoulder of the iH&S pattern.
When would be possible to break this upper red resistance zone, then this formation may be easily our lift to 9600 USD.
Time before we could see what power this formation has.
BITCOIN The parabolic bull run's supportAs BTC gets closer to the essential MA200 test supported by the MA1400 on 1D, I have come across a new support level level, which has been missing from key analyses out there.
It is known that the Halvings historically signal the start of the new bull market on Bitcoin that escalates into a parabolic run. What we have been missing is that since the Halving the 0.5 logarithmic retracement level has been providing a support. This essentially means that Bitcoin only retraces around half the log scale of its parabolic bull run.
The following month is pivotal for Bitcoin's trend as I've described on a more short term analysis below:
Bitcoin's early stages of a new Bull Market.This study shows key trading levels using the the Pitchfork tool.
We see some clear patterns from the median lines that create a Channel Up pattern. This pattern's Higher Highs (December 2013 and December 2017) have 0.75 Median difference. If the same scale applies on the Higher Lows we can assume that since the January 2015 Low was made on Median 1, then the next should be on 0.25. That was practically the December 2018 Low. It also nearly matches the ~ 85% decline from the Highs.
Of course those parameters can be very relative but the tools are there to help us make a reliable technical projection to a certain degree. Using that we can reach the conclusion that Bitcoin has made a Bottom and should trade within the 0.25 range for most of 2019 before it aggressively breaks higher.
Essentially we should be on the early stages of the new Bull Market.
You can check more related BTC material and studies below:
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Bitcoin Gonna Go to 5.3k?! (BTC)Hey ho boys, Who's ready for a little pump to 5.3k? I sure am.
Price action is looking very similar to the July Fractal and I think we will repeat that.
This 5.3 level would hit right at the daily 50 ema which has been acting as a strong resistance over the last few months
Everyone and their dog is talking about 3k Bitcoin. Following the masses never works lads! Also, CNBC and Bloomberg telling us that Bitcoin is dead is always a good indicator for us to go long.
Good luck boys + girls and have fun ;00
$BTCUSD and its battle with the bears & fundamentals BTC has bottomed out as it seems with the help of yesterdays bloody monday across everything finance and the now past SEC hearing on cryptocurrency.
If you missed it the SEC hearing was positive. Time marked on chart.
So from its bottom out BTC is following a new bull trend with clear fundamental skys - not a FUD cloud in sight.
Marked in the dotted red are the bear resistance and the blue is bull support.