I say it in jest, however this trend is pretty blantant.
We all like to play the short - mid term plays on BTC/USD. Thats the goal. Accumulate more BTC as we continue to rise in price BTC/USD over the long term.
This chart isn't to excite anyone, or to disway anyone's opinion.
It is simply showing how obvious it is that digital assets, primarily BTC are still in a long term upward channel.
The halving in 2020
*Depending on Block Height will be in April/May 2020* ;
will in all likelihood increase the price of BTC dramatically.
History shows that the 3 previous halvings have increased the price of BTC against the USD, several hundred - several thousand % over the 3-6 months prior too it.
From our current point at 7200, i would say that two options are available to us as of now..
1. We sweep low one last time over the next month or two, (It will be a sudden flash crash, ALTS -20%+ across the board, and BTC will be in the 4.5-5.5 range. That is IF we break the multi-level layers of support in the 6-7k range. This support is strong, so if it does break, it's either manipulated, or we are going to sweep lower into capitulation for people who bought the recent peak of $14,000 per BTC. After that, i see an extremely quick uptrend to previous ATH ranges (15-20k per BTC) range, & then we all know what happens.
FOMO.
2. We dont' break the 6-7k support region(s) and we continue to go sideways until some sort of fundamental (and in all likelihood manipulated as well, (important news) that will push us upwards. This could be anything from a country/company coming into crypto. A major BAKKT play/announcement/ clarity on regulatory oversight, China, anything.
All in all, we are on the up and up. So many worry about their long term health in BTC/USD, but if you play the long game, and you remain patient.
You will survive.
Good luck
We all like to play the short - mid term plays on BTC/USD. Thats the goal. Accumulate more BTC as we continue to rise in price BTC/USD over the long term.
This chart isn't to excite anyone, or to disway anyone's opinion.
It is simply showing how obvious it is that digital assets, primarily BTC are still in a long term upward channel.
The halving in 2020
*Depending on Block Height will be in April/May 2020* ;
will in all likelihood increase the price of BTC dramatically.
History shows that the 3 previous halvings have increased the price of BTC against the USD, several hundred - several thousand % over the 3-6 months prior too it.
From our current point at 7200, i would say that two options are available to us as of now..
1. We sweep low one last time over the next month or two, (It will be a sudden flash crash, ALTS -20%+ across the board, and BTC will be in the 4.5-5.5 range. That is IF we break the multi-level layers of support in the 6-7k range. This support is strong, so if it does break, it's either manipulated, or we are going to sweep lower into capitulation for people who bought the recent peak of $14,000 per BTC. After that, i see an extremely quick uptrend to previous ATH ranges (15-20k per BTC) range, & then we all know what happens.
FOMO.
2. We dont' break the 6-7k support region(s) and we continue to go sideways until some sort of fundamental (and in all likelihood manipulated as well, (important news) that will push us upwards. This could be anything from a country/company coming into crypto. A major BAKKT play/announcement/ clarity on regulatory oversight, China, anything.
All in all, we are on the up and up. So many worry about their long term health in BTC/USD, but if you play the long game, and you remain patient.
You will survive.
Good luck