crest_investments
Long

Beginning of a parabolic move?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
A very bullish start to 2020! The downward channel from June 2019 has been broken (Green lines) giving confirmation of the long-term price trend since 2014 ( Gold line). Seeing how the price movements have been occurring since December 16th we are beginning to see a formation of a parabolic move materialise (Blue Line). If this trend continues, we will see a price of $10,000 by the end of the month. This is a key price point as it will coincide with the downward trend from its all-time high (Red line). At this point I am expecting a reversal back down to $8,000ish. If the trend breaks again, we will be in uncharted territory and ready for a very exciting move towards the halving.

The fund is neutral at the moment with no positions, however if the parabolic movement in confirmed we will be long once again.

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