Hey there! Crypto is exciting again!! Let's do some catching up on Bitcoin, what we can learn from what happened in the last cycle, as well as what my plans are for trading it.
We find ourselves in the the middle of a massive bull run in bitcoin. But how far can it go this time? This is just a VERY ROUGH prediction based on the major trend lines and past cycles.
Target: $200k-$400k in December 2021
Retrace: $50k-$70k in early 2023
Watch out for a fall below the 200MA followed by a rejection of the 100 MA. That will mark the end of the bull cycle as it has in the past. -marked by red arrows
Remember that until that happens we are still in a bull cycle. We could have a nasty drop back to $20k and still move higher than we are now afterwards.
When the bear cycle is happening, be ready to buy when the price moves and stays back above the 200 MA. This has led to bull runs in the past. - marked by green arrows
www.moonmath.win has a 2014 logarithmic regression progression chart that shows the current resistances in another way. I got mine by lining up the past highs and lows but they match up pretty well against that chart.
My main point of this chart- don't sell just yet, we still have plenty of room for upside the rest of this year.
Take this all with a grain of salt. That being said, Bitcoin has continued to stay in the same bear bull cycle making higher highs each time. This is what MY personal plan of trading it looks like. Thank you for liking, sharing, and following. I will post some altcoin trades I'm making in the next few days.
We find ourselves in the the middle of a massive bull run in bitcoin. But how far can it go this time? This is just a VERY ROUGH prediction based on the major trend lines and past cycles.
Target: $200k-$400k in December 2021
Retrace: $50k-$70k in early 2023
Watch out for a fall below the 200MA followed by a rejection of the 100 MA. That will mark the end of the bull cycle as it has in the past. -marked by red arrows
Remember that until that happens we are still in a bull cycle. We could have a nasty drop back to $20k and still move higher than we are now afterwards.
When the bear cycle is happening, be ready to buy when the price moves and stays back above the 200 MA. This has led to bull runs in the past. - marked by green arrows
www.moonmath.win has a 2014 logarithmic regression progression chart that shows the current resistances in another way. I got mine by lining up the past highs and lows but they match up pretty well against that chart.
My main point of this chart- don't sell just yet, we still have plenty of room for upside the rest of this year.
Take this all with a grain of salt. That being said, Bitcoin has continued to stay in the same bear bull cycle making higher highs each time. This is what MY personal plan of trading it looks like. Thank you for liking, sharing, and following. I will post some altcoin trades I'm making in the next few days.