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It is imperative in my opinion for bitcoin to respect this all time trend line, we are approaching it in the near future. I think the price could dip further in the next few weeks, but then a new bull run will begin.
Let me know what you think in the comments.
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From the very start of history, bitcoin has be written off, this chart sums up the history behind the most valuable cryptocurrency.This charts states that bitcoin could reach its ATH in December 2019 and reach $600,000 in 2021. Between 2014 and 2016 it took 1141 to reach its ATH, but once it did it exploded to new ATH.
Hope you all like this chart.
As the weekly frame looks extremely bearish, Major supports at $4900 Region and $3900 Region also. 200MA stands around $3100 which could also make a retest then we should see a huge bounce of this and we can finally start our Bull Run.
Looking at the shape of the flags that we are seeing recently on the bitcoin chart seems to suggest a bull move which is overdue as we already had one of the bullish flag formations, then a repeat of the pattern, the move should come within the next couple of days maximum, so look out for confirmation.
In the next day or two we can expect to see another price movement for bitcoin.
Do you think it will break bearish or bullish?
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BTC Found support at $6550 and is holding well, If we breach $6500 we could be heading towards $6200 region, but expected to keep the curve moving upwards and possible retest of $6750 (Purple Line) which could send us back down slightly but the curve could make us push on towards $6900 (Green Box)....
If we drop towards the $6500 region I would get out of any ...
9th October breakout to around $8,000.
BTC broke out of the box which on the Fib is very close to the 38%, once broke we found resistance $6752 50% Fib..The box region we was stuck in bounces of resistances and supports for 15 days.
For around 12th October hitting prices above $8,800 USD. This is based on the new wicks that broke the previous pattern slightly.
It looks like the price is in a falling wedge type of pattern right now, and the breakout could go to the upside giving bitcoin huge potential for approaching $10,000 USD again. Let me know what you think in the comments, like the idea if you agree, and follow me for more price predictions in the future!
If we see a repeat of the short squeeze that happened last time, the bitcoin price could skyrocket to around $9,500 in the coming days.
If bitcoin cannot break resistance at $6,800 and trigger a short squeeze, the price could test lower lows of around $5,426 USD in the coming weeks.
This is a worst case scenario in my opinion.
It could take some major news, such as the CBOE Bitcoin ETF being approved by the SEC to set off any earlier bull run.
Bitcoin major support zones (red lines)
Possible 3 month head and shoulders forming on BTC.
Price currently in right shoulder, reaching the same highs as the left shoulder (~$7.8k). Expect price to bounce off this level for a few days, before a short pull back to 7.0-7.2k. This pullback would make sense given that daily RSI is currently touching oversold. If this pullback occurs, I'd expect a quick ...
I just wanted to put this idea out there. Who knows what the future could be for bitcoin. This is a projection of the previous long term lows and highs and the wave continuation.
Using wave analysis of the 12 month moving average I've made this prediction about what the bitcoin price could reach in 2020 if the wave pattern continues.
There is also the raising cost of producing bitcoin, the fact that there is a limited amount of bitcoin, and the difficulty level of mining bitcoin increasing with time. All these things are likely in my ...
We recently broke the Daily Kijun and I believe that we have now entered a new upwards channel.
Whaat do you think will support hold the bitcoin price for the bulls in the short term?