Hi, I'm back with an update.
The 200k btc milestone (450% up from today's prices), will most-likely be between this year (2021) and 2023. Looking at the current linear trends on a logarithmic price scale.
Disclaimer: humans find it hard to believe and understand logarithmic scales. Our brains mainly think in linear scales and trends. However, I think with...
Key takeaways:
Bitcoin entered accumulation phase for several months ;
Bottom can be as low as 10k, due to recession and other external factors;
Big resistances at 30k, 40k and 50k (see resistance and support lines);
Bitcoin halving Mar 2024 will cause a new bull-run;
Disclaimer: If Bitcoin ETF will be approved, major upside will be inevitable....
Looking at the support levels of the past, as well as some other technical indicators (MACD). It seems you could go long on the S&P 500 in the short notice.
However , it will properly not take long before there will be yet another correction taking place, due to the Corona virus. Since the economy is and will be effected, including real estate, oil and businesses...
For the upcoming week (several days), I would say there will be a price increase for BTC/USD symbol, by just looking at:
RSI (not in current graph (sorry I don't have a pro account)
MACD for sure! See the cross coming up on the 1D chart
4EMA is getting ready as well
The price is less volatile and low in the bollinger bands
Currently I bought BTCUSD...
RSI (Relatieve Strenght Index) indicator
Bollinger band (C)
Next to the: 4EMA indicator (4 moving average Exponential)
See also my first publish with MACD indicator (see my profile!).
Its currently containing two important indicators, which are MACD & 4EMA.
MACD = Moving average convergence divergence
4EMA = 4 moving average exponential
