BTC Projection based on 2017 historical data and halving
This idea shows the two ways BTC could go from here. It is based on the fundamental that we are on a cyclical trend with BTC based around halvings.
The red projection shows a comparison against 2017 Nov-2018 Jan timeframe shifted to match 2020 Dec-2021 Feb. I am overall bullish on the market but I think the next week will be the deciding factor. The divergence from the 21 day EMA is going to be a key player as an indicator here. Also, the false flag/dead cat bounce which we saw in 2017 could catch a lot of people off guard if we see the same thing this year. If we follow the red trend line I will be liquidating at the second peak. This is just for me and my risk management and not to be considered financial advice.
The green projection shows the potential for this to just be the beginning of the bull market. We dropped below the 21 day EMA on the 1 day timeframe back in January. If we have a similar move then I'd expect the projection to follow the green lines and onto 70K and beyond.
What do you think? Do you think we're going into a bear market and following the same pattern as 2017?
The red projection shows a comparison against 2017 Nov-2018 Jan timeframe shifted to match 2020 Dec-2021 Feb. I am overall bullish on the market but I think the next week will be the deciding factor. The divergence from the 21 day EMA is going to be a key player as an indicator here. Also, the false flag/dead cat bounce which we saw in 2017 could catch a lot of people off guard if we see the same thing this year. If we follow the red trend line I will be liquidating at the second peak. This is just for me and my risk management and not to be considered financial advice.
The green projection shows the potential for this to just be the beginning of the bull market. We dropped below the 21 day EMA on the 1 day timeframe back in January. If we have a similar move then I'd expect the projection to follow the green lines and onto 70K and beyond.
What do you think? Do you think we're going into a bear market and following the same pattern as 2017?