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...
Whaat do you think will support hold the bitcoin price for the bulls in the short term?
I'm hoping that there will be enough bull volume to break through the resistance and see higher highs in the next days!
I forecast that the bitcoin price will continue to rise as indicated by the bull flag that I've drawn in yellow.
So far the lowest resistance line of $5590 has not been tested, but the other two above it have. Once this line is tested and if the bears get a strong rejection we can then start to see a come back for the bulls.
The price is getting squeezed! Give this idea a like if you agree. Let me know in the comments if you think it will be to the upside or the downside.
I'm predicting a break before BTC/USD drops to the bottom of market structure identified by the lower light blue line.
The bear market could reverse when bitcoin reaches long term support lines.
I love this indicator. It seems to be quite accurate with these settings on the 1 hour chart. Give this idea a like if you agree.
Let's see if this turns out right.
There is a very strong support line that bitcoin could reach if it manages to drop further making it a good time to buy at the moment in my opinion. What do you think? Are you still bullish about bitcoin?
Get ready for the price rise which could be perfectly timed with big institutional investors and the launch of bitcoin ETF contracts.
The price looks ripe to rise if good news brings in more investors.
How long it will last who knows?
Let me know what you think in the comments. Just a wild guess, not trading advice!
I'm feeling optimistically bullish about bitcoin at the moment. How about you?
We are seeing a downtrend at the moment, will bitcoin get back on track, or will the price continue to drop?