Seems generally on the up for now but I still wouldn't be surprised to see a big sell off once the virus really grips the US
Bitcoin (BTC) analysis thread
- Thread starter momo3HC
- Start date
- Watchers 16
Hi all. Here`s my latest Bitcoin (BTC) analysis.
First of all I`ve got to mention that this is my short term analysis and it`s going to be really short.
In the next few days i`ll present you my really long term (kind of edited) analysis too.
Now let`s get to the technicals.
The main point here is the ascending triangle at 4H chart. This pattern most of the time leads to a bullish breakout but we`ll see.
- Pivot point for this week is $6182.09
- We`re far above it right now which is awesome for this and the next week.
- Resistances:
- 1st $7100-7300 (a MAJOR one) – that`s the top of the ascending triangle and also 61.8 fibo level at weekly chart. A break above it will be a strong bullish signal.
- 2nd $7800 (by previous PA)
- 3rd $8500 (by 50% fibo level and previous PA) – here the resistance can be even a bit lower by VPVR indicator.
- Supports:
- 1st $6400 (last resistance)
- 2nd $5600 (MAJOR support by historical PA)
That`s from me for now.
Great Bitcoin analysis as always - will keep an eye out for these key levels. Hoping for a bull run myself, but not ruling out another crash unfortunately.
Hi all. Like i`ve promised you last week, today i`ve made a very long term BTC analysis. In this analysis it`s all about next expected all time high (ATH) in a matter of price and time. It`s a bit more conservative or realistic even than the last long term one in which I`ve pointed $170k as a ATH price. I`m not saying that $170k is impossible but this analysis is more conservative like I already said. So let`s go.
All is a simple math and price action.
- The 1st ATH after the 1st halving took 334 days from the halving and the price increased with around 11000% from the halving since the ATH.
- The 2nd ATH after the 2nd halving took 518 days from the halving and the price increased with around 3100% from the halving since the ATH.
Another question can be why every time it took more days and the price increasing is lower. Simple again – Because with the price increase it needs more and more money to be pumped for the same or even smaller price move in time.
Why i`ve marked the start of the next ATH period from Dec `21? That`s more because of the sentiment or feeling than to some numbers. The single fact here is that every ATH since now was happened Nov-Dec next year after the halving year or simply said – 4 years after last ATH. That`s why Dec`21 or even Jan`22 is a good start of the next ATH period or even the exact ATH time.
There`s nothing more to be said here so let`s summarize all about the next expected Bitcoin ATH:
PRICE: around $70000
TIME: from Dec`21 to June`22
P.S. I`m really curious to see your thoughts about the next Bitcoin ATH too.
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