Few scenarios which could help us to solve the BTC puzzle
In my chart, which could seems a little bit unreadable at the first look, obtains a channel built from logaritmic curves, which from my view holds the supports and resistances in the best way. This channel could give us a clue where the future prices of BTC will be.
I know that the past won´t tell us the future, but I´ve noticed a parallel channel from the previous BTC bubble (2013-2015) and tried to draw the similar channel for the present days. This channel could drive the price down to 1800 level where we can find a really big support. 1200 level is also in the game, but for me this level is not so probable. It is way to down from the EMA200 weekly which is a really big support these days...but I think it will not hold the 3200 level....who knows.
We can find another TA here, and that is Elliot waves analysis. This analysis is a little bit depresive, but as a swing trader, you have to count it also. I have count those waves and discussed them with many people...and according to EW theory it is valid. Here my bottom is at 1200 level, which is cut by a red line. This line is kinda interesting for me, because it cuts all interesting supports and resistances from the past. According EW theory we can expect another bull run (as a corrective wave B), which won´t give us a new ATH . Then, the depresive season will come.
I know that this analysis contradicts a lot, but according informations I have, picking a side is just gambling.
I am super curious what the future of BTC will look like. We can say...it is a milion dollar question :)
Please do not take this analysis as a financial advice...it´s only for educational purposes.
Trade safe!!!
Juraj
I know that the past won´t tell us the future, but I´ve noticed a parallel channel from the previous BTC bubble (2013-2015) and tried to draw the similar channel for the present days. This channel could drive the price down to 1800 level where we can find a really big support. 1200 level is also in the game, but for me this level is not so probable. It is way to down from the EMA200 weekly which is a really big support these days...but I think it will not hold the 3200 level....who knows.
We can find another TA here, and that is Elliot waves analysis. This analysis is a little bit depresive, but as a swing trader, you have to count it also. I have count those waves and discussed them with many people...and according to EW theory it is valid. Here my bottom is at 1200 level, which is cut by a red line. This line is kinda interesting for me, because it cuts all interesting supports and resistances from the past. According EW theory we can expect another bull run (as a corrective wave B), which won´t give us a new ATH . Then, the depresive season will come.
I know that this analysis contradicts a lot, but according informations I have, picking a side is just gambling.
I am super curious what the future of BTC will look like. We can say...it is a milion dollar question :)
Please do not take this analysis as a financial advice...it´s only for educational purposes.
Trade safe!!!
Juraj