What signals are we seeing at the Bitcoin Chart?Hi all,
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The current BTC movement makes you thinking: Where are we heading to?
By looking on the chart, the last weeks are not to much promising. After sideways movement, we could see the price stepping down. What could be the reason? Lose of interest in BTC, lose f trust? We don't know. But what surely will happen, that we will see one of 3 scenario:
Scenario #1: We will see a rising course:
There are 2 theories , that are quite charming!
First one is the idea published by filbfilb, who is actually very close to current chart with his prediction!
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The big event, his chart is heading to is the Bitcoin halving and in the short term the 50 / 100 MA crossing. Me personally I am exited to see, if the course is following this idea.
The second idea is the long term development of Bitcoin by Bob Loukas, who is focusing a 4 year cycle. In his videos, that you can find on youtube, he is preaching to stay passionate. According to his theory, we just have started a growing period of 150 bars (approx. 3 years). A fascinating idea.
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Scenario #2: A continuing sideways movement with no significant price action.
To be honest. Even not me is believing this scenario. The history showed, that the crypto market is a highly volatile market with high risks. That would mean, basically everyone would hold their amount of coins, the market cap would stagnate.
Scenario #3: The chart will continue its recent movement, continuing heading to lower areas, bouncing up and down in its price range.
Conclusion: What will happen will show the time, but I would like to end my text with a quote of a friend: "People forget!" They forget, what happened in the history of Bitcoin. Will forget its huge up, but also its down. What we could witness so far is a growing value of bitcoin. Some people even see the gold of the future in it.
What are your thoughts? Leave a comment or you idea below.
Thanks
