Maximalist say 300k is coming. yeah, that is the case we should know about that.
hello traders around the world especially Persian ones.
in this post, we want to show you the workflow of bitcoin market makers especially between 2013 and 2017 and 2017 until now.
at the first, let us go through 2013-2017 years. bitcoin has skyrocketed from 170$ to see 1163$ in November 2013(about 500% gain). so the story for more and more concentration just began from that time.
according to the chart, we saw bitcoin starting downwards from 1163$ to 152$(about 85% sell-off) and made a big bear market and main wave for more upside waves. the selling pressure showed the buyers at 200$ and after some accumulation phase around this number, chart started upside to 500$ around 38% fibo. we saw some accumulation again around this number and finally break it for 774(61% fibo). that was the first touch of 61% Fibonacci on 774$ with the big downside wave as the main wave from 1164$ to 152$. Bitcoin held the buying pressure for some weeks under 774$ and finally broke it for the first touch of BTC ATH around 1164$ after reached it in November 2013. Then chart printed 2 bearish weekly candles to test 61% again as support. then grew to pass the ATH and saw 1350 for the first time and print bearish candle again for test 78%. after this phase, we can say bitcoin started the parabolic phase for 20k. you can see the 250% gain after 78% support test for reaching 3000$. the number that converts to new yearly support for the next bull cycle after 2017 to new ATH. yeah, that price growing up was repeated itself from 2013 ATH for about 500% gain again.
so, let us concentrate on 2017-2021 years which have "Seen" and "For Future" marks.
after reached 20k, BTC price saw a big bear market again. we saw downward and sell pressure from 20k to 3100$ for testing the yearly support which marked before in our statement.
so this is the episodes of the 2017-2020 series which seen so far.
1. price started growing until 61% fibo around 14k.
2. price fall on 38%.
3.price could not save this support and started big down wave to see 3800$ influenced by the coronavirus and financial crisis
4. price recovered soon for testing 14k again and finally clear it.
so that's the case. the "history repeats itself" statement was good so far except the coronavirus down wave. but yeah, it's cool enough.
if we consider the whole chart and history for the future of BTC chart we should see 14k before new ATH and after that upward through 22k-23k and make a correction until 78% around 16k and the big upside wave for new ATH around 50k and more.
we see a big upside channel and also 300k target on the top of this chart. as a maximalist, yeah, it should be reachable but as a realist with this type of economy and better said coronavirus economy everything is doubtful.
in this part of analysis we want to speak about the most important 2016-2017 events.
1.North Korea Conducts Missile and Nuclear Tests
2.Britain Votes to Leave the European Union
3.Russia Interferes in the U.S. Presidential Election
4.Donald Trump Wins the U.S. Presidency
As noticed most important news in bitcoin new ATH mission, the repeated history need to be repeated most important news. for example, in the above analysis, we said coronavirus downward in 2020 is bigger than 2016 one. in 2020 we saw coronavirus and us election with no result or confirmed result and also killing top Iranian general in Baghdad by us airstrike as most important ones. also the CBDC of china and eth 2.0 with staking consensus algorithm are the most important news of the cryptocurrency community. we don't know the side-effect of these crypto events on BTC precisely. also in this year, we saw financial crisis events like a sell-off on oil and dow jones and other indexes in the world market and gold rally as well. so we this info, we can say this year is not similar and has significant differences for mentions and addresses.
at the end of this analysis, with all of this information we have, we just follow the trend and manage a stop, position size, and looking for swing positions not the day trade opportunities cause of market powerful upside momentum. so be careful with this type of "BTC beyond the 2020" one.
don't forget to like and comment
all the best
Setmax
hello traders around the world especially Persian ones.
in this post, we want to show you the workflow of bitcoin market makers especially between 2013 and 2017 and 2017 until now.
at the first, let us go through 2013-2017 years. bitcoin has skyrocketed from 170$ to see 1163$ in November 2013(about 500% gain). so the story for more and more concentration just began from that time.
according to the chart, we saw bitcoin starting downwards from 1163$ to 152$(about 85% sell-off) and made a big bear market and main wave for more upside waves. the selling pressure showed the buyers at 200$ and after some accumulation phase around this number, chart started upside to 500$ around 38% fibo. we saw some accumulation again around this number and finally break it for 774(61% fibo). that was the first touch of 61% Fibonacci on 774$ with the big downside wave as the main wave from 1164$ to 152$. Bitcoin held the buying pressure for some weeks under 774$ and finally broke it for the first touch of BTC ATH around 1164$ after reached it in November 2013. Then chart printed 2 bearish weekly candles to test 61% again as support. then grew to pass the ATH and saw 1350 for the first time and print bearish candle again for test 78%. after this phase, we can say bitcoin started the parabolic phase for 20k. you can see the 250% gain after 78% support test for reaching 3000$. the number that converts to new yearly support for the next bull cycle after 2017 to new ATH. yeah, that price growing up was repeated itself from 2013 ATH for about 500% gain again.
so, let us concentrate on 2017-2021 years which have "Seen" and "For Future" marks.
after reached 20k, BTC price saw a big bear market again. we saw downward and sell pressure from 20k to 3100$ for testing the yearly support which marked before in our statement.
so this is the episodes of the 2017-2020 series which seen so far.
1. price started growing until 61% fibo around 14k.
2. price fall on 38%.
3.price could not save this support and started big down wave to see 3800$ influenced by the coronavirus and financial crisis
4. price recovered soon for testing 14k again and finally clear it.
so that's the case. the "history repeats itself" statement was good so far except the coronavirus down wave. but yeah, it's cool enough.
if we consider the whole chart and history for the future of BTC chart we should see 14k before new ATH and after that upward through 22k-23k and make a correction until 78% around 16k and the big upside wave for new ATH around 50k and more.
we see a big upside channel and also 300k target on the top of this chart. as a maximalist, yeah, it should be reachable but as a realist with this type of economy and better said coronavirus economy everything is doubtful.
in this part of analysis we want to speak about the most important 2016-2017 events.
1.North Korea Conducts Missile and Nuclear Tests
2.Britain Votes to Leave the European Union
3.Russia Interferes in the U.S. Presidential Election
4.Donald Trump Wins the U.S. Presidency
As noticed most important news in bitcoin new ATH mission, the repeated history need to be repeated most important news. for example, in the above analysis, we said coronavirus downward in 2020 is bigger than 2016 one. in 2020 we saw coronavirus and us election with no result or confirmed result and also killing top Iranian general in Baghdad by us airstrike as most important ones. also the CBDC of china and eth 2.0 with staking consensus algorithm are the most important news of the cryptocurrency community. we don't know the side-effect of these crypto events on BTC precisely. also in this year, we saw financial crisis events like a sell-off on oil and dow jones and other indexes in the world market and gold rally as well. so we this info, we can say this year is not similar and has significant differences for mentions and addresses.
at the end of this analysis, with all of this information we have, we just follow the trend and manage a stop, position size, and looking for swing positions not the day trade opportunities cause of market powerful upside momentum. so be careful with this type of "BTC beyond the 2020" one.
don't forget to like and comment
all the best
Setmax