bodeen88

bodeen88 Updated 

Take a look at the fibs. Price is in a descending channel currently. Price is at the bottom line of the rainbow log regression channel shown. According to PlanB's model, the price should be much higher right now. This is a severe discount seen only a few times, the Crash of 2018, the COVID-19 Crash, the Mount Gox exchange hack, to name a few. These are times of...

bodeen88

I think sometime between now and the end of the year, Bitcoin price will start rising. And when it starts rising, this will start the next bull market. It may not happen today. May not happen next month, or even the next 6 months. But sometime soon, the market is going to explode upwards. This all assumes that the current macro trend in bitcoin continues. Which,...

bodeen88 Updated 

Analysis based on long term trend lines and forming wedge. Moving averages starting to curl downward. Daily RSI is very high. Bought Put 11/5 dated 11/19 for $157.00. $2. No stop loss. In hindsight, it would probably be more advantageous to purchase a longer-dated put such as 1-month out, December 10th, and raised the price target close to the current share price,...

bodeen88

While everyone on here is just drawing a bunch of random squiggly lines with a paintbrush and drawing big green up arrows right beside big red down arrows... and saying, "the price is either going to break out and go way up, or it's going to break down and go way down," I figure that I would add my own randomly generated "dice throw" of an analysis based on...

bodeen88

If so, a major breakout will ensue. First price target 120k, major resistance based on upper trending. If break through that resistance, next price target is 400k.. Expect to reach by early 2022.

bodeen88

It happened pretty recently. Is it possible for it to happen twice in one year? It should be the shortest Pie cycle ever.

bodeen88 Updated 

I see a long term pattern here. The vertical yellow lines represent halving event dates, spaced about 4 years apart, which seem to be good buy zones. About 14 months before a halving event also seems like a good buy area. The vertical red lines represent bitcoin bull market peaks, spaces about 4 years apart, which are sell areas. Correct me if I'm wrong, but...

bodeen88 Updated 

I am short on BTC at the moment. Alt coins and bitcoins might crash any moment.

bodeen88

Any comments? Use support/resistance lines. It looks almost like a sine wave to me.

bodeen88

Based on this ascending wedge pattern, I started to see the reverse of what happened in the last bear cycle. So I took the bar pattern from between December 2017 and June 2019, and mirrored it, then overlaid the pattern onto the one we see here. I keep seeing higher lows, but the highs are staying the same. It's like a powder keg getting ready to blow. I would say...

bodeen88

Reverse HS formed

bodeen88

This is an update on my idea of the bearish ascending wedge pattern. As I suspected, the price broke through the bottom support line of the ascending wedge. The next level of support is the major trend line drawn between the last 2 major dips at 50k and 43k. Using the same bar pattern from the last drop to 50k, along with the fact that price is turning back...

bodeen88

Bitcoin is facing some tough resistance at the 60k USD price. I think it will possibly touch 55k soon if the resistance isn't broken soon. Once it gets to 55k, it's possible that the price will fall through the wedge and reverse the bullish trend. However, if the price finds support at 55k, then BTC will likely retest 60k and most likely break it, in which case...

bodeen88

Bitcoin Log scale RSI and Moving Averages are starting to turn downward on the 1D chart. The trend angle in the last two months dropped by 10 degrees. There is a lack of volume in the current "leg up." If the trend were to continue, Bitcoin price would have to be 100k in 1 month. However, there is no sign of buy volume at these prices that would bring it to that...

bodeen88

GIVE IT 7 YEARS OR SO, AND THE PRICE WILL STABILIZE, BARRING ANY SIGNIFICANT INFLATION PRESSURE. FOLLOW THE TREND LINE.

bodeen88

I am not going to put a lot of fancy triangles or fractals in this chart. Nor am I going to point out the scary bearish divergence that has occurred. I want to focus here on the 9 Day simple moving average. In the last week or two, the 9 day MA has proved a point of resistance for bitcoin. In order for bitcoin to continue the trend upward, the price must close...

bodeen88

Another possibility is bitcoin ignoring the bearish divergence on the MACD and RSI weekly and daily charts and simply bouncing off of the 50D moving average now, and again in mid-April, finally TOPPING at a price of nearly $100k by May, 2021. However, in this scenario, I am not sure where the extra $1 trillion will come from within the next month to push bitcoin...

bodeen88

Bitcoin price is at the 50 day simple moving average. This is a tipping point. It has yet to fall below this critical indicator the entire length of the latest rally. If it closes 1 day below the average, it could mean the end of this recent bull cycle. However, it could still bounce from it and continue higher. Trade wisely.