Hi all. From my last post you can see why I don`t like lower time frames and short term BTC analysis at all. It was a good setup but with BTC anything can happen literally from nowhere so that`s why i`m continuing with long term picture. This time i`ll show you some history and the only question is “Can this history be repeated again?”. From the chart 1 you`ll see and interesting pattern which happened before the second and third ATH. It`s a descending triangle, some sideway move, then an ascending triangle and then… next ATH. It`s happened twice and both times was before the next ATH. Guess what is the chart 2 picturing…? Exactly the same story but it`s happening now. A descending triangle, some sideway move, then an ascending triangle. What`s missing…? Yep, the next ATH! I want to make only 2 clarifications: 1. It`s not 100% sure that the history will repeat but we`ve already saw it so it`s very likely. 2. The latest ascending triangle is not so clear but that`s because of the Corona drop and that drop is something really extraordinary and if the Covid crisis didn`t happened, we would have a perfect ascending triangle. That`s from a technical perspective for now. Now some side words. Like you already may be saw from my charts, i`m a BTC bull. Even a moon boy may be. But let`s be honest for a short term perspective. Exactly in a short term i`m expecting some more blood on the markets and I don`t mean only for a BTC. Like we saw from the last BTC drop, exactly simultaneously Gold, Silver and Oil also dumped. For me that`s a sign of a second Corona dump. It won`t be deadly for BTC for sure but it can hurt, so it`s good all of us to be prepared. Just have this in mind. The second thing which blew my mind lately is unambiguously. I believe most of you know the story and idea behind the Bitcoin. Also like most of you knows that the real wealthy peoples in the world are small number and they don`t like BTC because they`ll lose their power and they`ll do what`s needed to prevent this from happening. One of these peoples are the Rothschild family. Google them if don`t know who they are. For sure they don`t like BTC but guess what… Their Rothschild Investment Corp is number 15 in the top 20 Institutional Bitcoin Investors list according to not anyone but Forbes. And if that`s not a bullish for BTC… That’s all for now. See ya next time.
Wow thanks for the history and break down. love seeing it that low and the moves it made. how every one used to say there is no value in BTC and you are wasting your money. if only i had bought a few back then. cheers for the information and lets hope for the next high
Hi all. I`ll be very short but specific this week. Strange week for Bitcoin and crypto sphere at all. Right? Price swing, Bitmex scandal, Trump with Covid and etc. But you know what? I don`t care about all that. All I can see is a bright Bitcoin future cuz of one simple chart. Do you remember my 3 month quarterly BTC chart from the end of August? If you don`t you can check it at the left side of the chart below. Like you`ll see from the chart, every time when we close a 3 month candle above the descending trend line from the last ATH, the run for the next ATH is starting. Now look at the right side of the chart below and what are you seeing…? Yep, it`s true, a 3 month candle already closed above the descending trend line from the last ATH. So maybe we`ve already started the next ATH run. Only the time will show am I right or not. That`s all for now. See ya next time.
Hi all. Almost a month no see but here i`m back and what a month it was for Bitcoin. In short i`m more and more bullish but let`s get back to charts. Chart 1: I`m turning back to my analysis from the end of September. It was about an interesting pattern on a weekly time frame which happened before the second and third ATH. It`s a descending triangle, some sideway move, then an ascending triangle and then next ATH. At the time of those analysis this ascending triangle wasn`t broken up yet but now… yes, the price breaks out above it and that`s the start of the next ATH run for me. And if this doesn`t convince you let`s see the chart 2. Chart 2: A monthly chart which complements the previous chart. 3 ATHs again. 3 triangles again. A break out again already. What`s missing again? Yep, the next ATH. Simply enough? I think yes. Also I want you to remember one. The path to the next ATH won`t be parabolic. There will be peaks and bottoms so don`t get panic. At this point the major levels are: Resistance around $13800-$14000. Support around $13000. Even a drop to $11500-$12000 won`t hurt the bull run and the ascending bull channel (on a daily chart).
That`s all for now. I`ve already prepared something interesting for the next time but i`ll share it in a couple of days. See ya.
BTC looks much more stable now than it ever did and more like a real currency. I think that it will hover around the $8-15k mark for the foreseeable future. This would be good for BTC as the more stable it is the more likely it can be used as an actual currency
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.