This will be less educational - and more of my interpretation. To address any questions on the Indicators use, its heikin ashi candles, with Kelt-Bollinger Combo (KBC) & Market God Indicator. Each the KBC and Market God 5.3 can be found for free in the public library by searching the respective terms.
My bias: Bullish
I will also include levels of support in the event of a dump (immediate support levels) - you are insane if you think Bitcoin is going to $1.5k. Theres a LOT of nutheads like me that will buy the hell out of it if so.
TLDR: I think we go straight to $8k from where we are, without retesting lows. That said, be prepared incase we see 2015 similar dump to re-test those lows and a clear accumulation pattern.
Immediate support below $5k is $4.8k, $4.1k. Any breach of the $4.8k and I see a retest of mid-low 3's
Immediate Resistances above $5.2k is $5,7k $6.8k & $8k above that.
By the halving in 2020, I expect Bitcoin to be well above $10k and on its way to an ATH breakout. I will do a post later as to why that is but just know historically, BTC is on its way to a new ATH by the demand generated from the halvings.
In the event I'm wrong, Support levels below current lows are strong all the way through $2k region. In a bullish scenario, I see EOY price near $8k and in uptrend. Bear situation, I see low $3k down to high $2k range.
Regardless, keep track of market dominance as alts will want to fly at somepoint, in the non-BTC maximalists situation.
My bias: Bullish
I will also include levels of support in the event of a dump (immediate support levels) - you are insane if you think Bitcoin is going to $1.5k. Theres a LOT of nutheads like me that will buy the hell out of it if so.
TLDR: I think we go straight to $8k from where we are, without retesting lows. That said, be prepared incase we see 2015 similar dump to re-test those lows and a clear accumulation pattern.
Immediate support below $5k is $4.8k, $4.1k. Any breach of the $4.8k and I see a retest of mid-low 3's
Immediate Resistances above $5.2k is $5,7k $6.8k & $8k above that.
By the halving in 2020, I expect Bitcoin to be well above $10k and on its way to an ATH breakout. I will do a post later as to why that is but just know historically, BTC is on its way to a new ATH by the demand generated from the halvings.
In the event I'm wrong, Support levels below current lows are strong all the way through $2k region. In a bullish scenario, I see EOY price near $8k and in uptrend. Bear situation, I see low $3k down to high $2k range.
Regardless, keep track of market dominance as alts will want to fly at somepoint, in the non-BTC maximalists situation.
Trade closed: target reached:
$8,350 touched on CB
Eric Thies
