Kalaish

BTC/USD long-term trend: August 2013 to September 2018

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
240 2 1
Disclaimer: I am new to TA and learning

I am interested in long term historical trends and whether they are useful indicators of future performance. I was looking at the last low point and high point over a number of years. It looks like the low point was August 2013. From this point BTC             price increased along the lower trend line , touching the trend line in May (nearly) and October 2016 and January and March 2017. From March 2017 the price rose away from the previous trend line to the high of December 2017.

From the December high, there appears another trend line to the lower highs of January, March, April and June 2018. Both of these trend lines meet at about $4250 in September 2018. I then drew a Fib retracement from the August low of 2013 to the December high of 2017.

What I have found interesting is that the Fib retracement levels closely match the price decline from December 2017 to now. Also that the .0.78 fib retracement level closely hits where the 2 trend lines meet at around $4250!

Now, as I said, I am new to this and could be using the technical indicators incorrectly but I just thought I would throw this out there as an idea. I would prefer BTC             to suddenly wake from its slumber and head for the clear blue sky's but there is also plenty of talk about BTC             hitting $4k. Who knows, it might be $4250 on the 30th Sep 2018!!

I'm not interested in random abuse, but certainly welcome advice and guidance on Technical Analysis :-)
For someone new, this is the most sane TA I've seen
Reply
Kalaish glynabt
@glynabt, Thanks! :-)
Reply
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out