Hello Traders, I wanted to share this with you guys since a lot of people believe Bitcoin will go under 30k. After a halving, the Bitcoin price NEVER went below the 1.618 after breaking out of a halving. I will post the numbers below so you can check it for yourself. Anyways, so I circled a similar pattern that played out in 2017 that took us to the ATH of 20k. The same exact pattern is playing out now with a new factor of 30k being the new bottom with a high of 200k+ during this cycle. Bitcoin will not make a new ATH till end of summer/fall time. After we broke out of my resistance line at 20k, we never came back and confirmed it as support which make me truly believe we will see a "bear market" till that time or sideways action until then. Also remember q3 starts in july, I would a rally up to 48k to test the 21w MA before we see more sideways action. Remember, markets trend up and correct by going sideways or down. I will be posting updates below as we move forward.
2011 Top:
1.618 - 50.37
1 - 31.90 (Top)
0.618 - 20.48
0 - 2.01 (Bottom)
2013 Top:
1.618 - 1803.41
1 - 1177.19 (Top)
0.618 - 790.11
0 - 163.88 (Bottom)
2017 Top:
1.618 - 30033.31
1 - 19764.51 (Top)
0.618 - 13417.13
0 - 3148.33 (Bottom)
Indicators:
147 MA (Equal to 21w MA)
Check out some of my other ideas! :D
Leave a comment, a like, and a follow for future updates!
Happy Trading! :D
If you have any questions, leave them below.
2011 Top:
1.618 - 50.37
1 - 31.90 (Top)
0.618 - 20.48
0 - 2.01 (Bottom)
2013 Top:
1.618 - 1803.41
1 - 1177.19 (Top)
0.618 - 790.11
0 - 163.88 (Bottom)
2017 Top:
1.618 - 30033.31
1 - 19764.51 (Top)
0.618 - 13417.13
0 - 3148.33 (Bottom)
Indicators:
147 MA (Equal to 21w MA)
Check out some of my other ideas! :D
Leave a comment, a like, and a follow for future updates!
Happy Trading! :D
If you have any questions, leave them below.
Comment:
Update:
Comment:
It looks like we did not fully touch the support as I thought we did. As of July 20th, we have.