Here is an in-depth analysis of what to expect for bitcoins run up in to the end of 2020. Using Backtested Extrapolations of very key points in Bitcoins recent history I have been able to define a path way of which bitcoin has been following thus far to a "T".
Being that the bull runs will become more elongated each time we have one, we are looking at a double up in the amount of time it will take to complete this one. Our last bull run lasted an apprx 360-365 days (depending on where you land the specific dates). Starting our ascent in December of 2018, bottoming out at around the $3k level, we have shown possible strength to have already started this next bull run. If it was a disbelief rally, I do believe that the 5500 Confluence of Resistance plus the massive cluster of resistance between $6k-$7k would have held us down to continue the bear market back in early 2019.
Proving the impossible possible the bulls sliced through it like warm butter and hot knife. We have touched $6.5k for a brief period of time in Mid November 2019 and have rebounded from it quickly and stayed about the $7k mark. Shown by the green diagonal support lines (representing the 200MA zone) it can be deduced that we may see $6.5k again but as long as the support is not broken we will be accumulating sideways till Late Jan 2020- Early Feb 2020. to bring us through the 2 year anniversary of the Bubble pop of 2017 (being a major psychological time period for bitcoin traders, although you should learn to get used to it as you will soon see a pattern ;) ).
Projected 2nd Run up will peak at the Bitcoin Halvening for 1 fact and 1 fact only, "LET THE FOMO BEGIN". Its known in Bitcoins history that the halvening has marked a spark of green in the candles causing a savory spike in the price that traders do not choose to be left out from. I for one can understand this completely, but looking at it from a health market point of view, this would be the second (textbook) Run Up needed to be able to prepare for the parabolic rise that is known as the Bitcoin Chart Pattern.
Not only (as indicated by the grouping of the 3 vertical lines in specific areas) does time frames of 6months separating each key event in bitcoins recent history we can speculate that May - June 2020 will be another trend cool-off with a classic 40% decrease in price (as we have just experienced with our rise from the ashes to $14k). It is only healthy for the market to pull back before having its time to shine
Remember as the Bitcoin veterans have always done...
Keep Calm... and HOD'L On
Peace out All,
CryptoGavin
Being that the bull runs will become more elongated each time we have one, we are looking at a double up in the amount of time it will take to complete this one. Our last bull run lasted an apprx 360-365 days (depending on where you land the specific dates). Starting our ascent in December of 2018, bottoming out at around the $3k level, we have shown possible strength to have already started this next bull run. If it was a disbelief rally, I do believe that the 5500 Confluence of Resistance plus the massive cluster of resistance between $6k-$7k would have held us down to continue the bear market back in early 2019.
Proving the impossible possible the bulls sliced through it like warm butter and hot knife. We have touched $6.5k for a brief period of time in Mid November 2019 and have rebounded from it quickly and stayed about the $7k mark. Shown by the green diagonal support lines (representing the 200MA zone) it can be deduced that we may see $6.5k again but as long as the support is not broken we will be accumulating sideways till Late Jan 2020- Early Feb 2020. to bring us through the 2 year anniversary of the Bubble pop of 2017 (being a major psychological time period for bitcoin traders, although you should learn to get used to it as you will soon see a pattern ;) ).
Projected 2nd Run up will peak at the Bitcoin Halvening for 1 fact and 1 fact only, "LET THE FOMO BEGIN". Its known in Bitcoins history that the halvening has marked a spark of green in the candles causing a savory spike in the price that traders do not choose to be left out from. I for one can understand this completely, but looking at it from a health market point of view, this would be the second (textbook) Run Up needed to be able to prepare for the parabolic rise that is known as the Bitcoin Chart Pattern.
Not only (as indicated by the grouping of the 3 vertical lines in specific areas) does time frames of 6months separating each key event in bitcoins recent history we can speculate that May - June 2020 will be another trend cool-off with a classic 40% decrease in price (as we have just experienced with our rise from the ashes to $14k). It is only healthy for the market to pull back before having its time to shine
Remember as the Bitcoin veterans have always done...
Keep Calm... and HOD'L On
Peace out All,
CryptoGavin