In this screencast I make out the argument for Bitcoin getting to $30,000 USD in 2 years. This is not a prediction. My speculative projection is based on geopolitical, macroeconomic issues and market psychology. No fundamentals involved.
Have a listen. If you have alternative ideas do share by commenting or PM. Let's share and learn together.
I really need to spend more time before publishing....
Here's is my updated chart after tidying it up, adding a few bits and also a tongue in cheek look ahead to $1,000,000 :)
Bitcoin 4 year cycle, self explanatory chart.
As can be seen in the graph above, the Japanese candles rose above the Ichimoku clouds, What Does the Ichimoku Cloud Tell You? The overall trend is up when the price is above the cloud. The last time it happened was somewhere in August 2018
The second important points are that the price goes above the Moving Average 100
(There will be no serious increase as long...
My wife is cheating on me... she still uses real money instead of BTC ;p
Now we are going to cut the crap and explain this trade in proper English so everyone can understand.... price has used a strong support zone ( red box ) and is on its way up to our resistance zone ( green box )
See how simple that was? even my pet dog understood it and is now currently on...
I previously marked up a bullish opportunity and i have attached the analysis below. Since then, price traded higher and has retraced into what i would see as a flat correction. From this point on, price has the potential to move bearish toward our take profit at 0.70752
The stop loss has been placed at 0.69010 creating an opportunity with a 1:2 risk to reward...
Simply put, price can never go straight up, it MUST retrace before a continuation as it provides liquidity.
Bull markets are built on bear blood.
with this being said, we can see that on the weekly time frame BTC has been losing bullish momentum, signified by the doji candle - representing indecision in the market.
I have marked two possible buy zones,
Bitcoin is showing some bearish momentum with potential to move down to $7128. If price does move to this price point, we may see price even trade lower after a retracement.
SL - 8118.16
TP 1- 7128.57
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The correction was missed, as the previous analysis referred to. A very strong trend began to emerge. Target price is 7738 usd. The amount of correction triggered from this can determine the movement of the next few days.