Every time we look at the monthly BTC chart, we learn some interesting stuff regarding the longer timeframe development of BTC.
For example we can clearly see that we have entered the bullmarket now, because the monthly Stoch RSI is now on overbought, and normally remains there 1-2 years.
This is historical behavior, of which I think that BTC will not just randomly change it.
So the ABC type correction people, who think that the run to 14k was the B correction wave, completely ignore
this dynamics here, and think that the 20k top was the top of wave 5. Noobs :) They really need to study the BTC monthly picture a bit more.
And they of course also ignore fundamentals like Hashrate, number of transactions, halving, and adoption in general.
In addition, we see that we hit the upper monthly bband, a resistance area which I indentified 2 months ago, where I said that the upper
monthly bband would mean an area of strong resistance, see here:
This has also been historically the case now, every time.
At the beginning of every bullmarket, BTC pushes for the upper monthly bband, then gets somewhat rejected, and goes sideways for 2-4 months with a
few minor dumps in between.
So for the gold fractal to come true, we'd need to brutally push forward through the bband, which in my opinion can happen, but is not as likely as the other more normal
scenarios. I can see BTC going sideways now for a few months, until it will push further up.
So, the monthly picture is more in favor of a longer lasting runup, whereas the gold fractal says we'll continue upwards.
I am undecided which path BTC will take, I just am pretty sure that the BTC bullmarket has begun and we'll see new all time highs either this year,
or 2020 at the latest.
The longer BTC will linger here at the upper bband, the higher the ATH will be :)
And because I live in Germany, where sales from coins become tax free after 1 year of HODLing, I have absolutely nothing against BTC relaxing a bit more, before pushing
towards new highs :)
For example we can clearly see that we have entered the bullmarket now, because the monthly Stoch RSI is now on overbought, and normally remains there 1-2 years.
This is historical behavior, of which I think that BTC will not just randomly change it.
So the ABC type correction people, who think that the run to 14k was the B correction wave, completely ignore
this dynamics here, and think that the 20k top was the top of wave 5. Noobs :) They really need to study the BTC monthly picture a bit more.
And they of course also ignore fundamentals like Hashrate, number of transactions, halving, and adoption in general.
In addition, we see that we hit the upper monthly bband, a resistance area which I indentified 2 months ago, where I said that the upper
monthly bband would mean an area of strong resistance, see here:
This has also been historically the case now, every time.
At the beginning of every bullmarket, BTC pushes for the upper monthly bband, then gets somewhat rejected, and goes sideways for 2-4 months with a
few minor dumps in between.
So for the gold fractal to come true, we'd need to brutally push forward through the bband, which in my opinion can happen, but is not as likely as the other more normal
scenarios. I can see BTC going sideways now for a few months, until it will push further up.
So, the monthly picture is more in favor of a longer lasting runup, whereas the gold fractal says we'll continue upwards.
I am undecided which path BTC will take, I just am pretty sure that the BTC bullmarket has begun and we'll see new all time highs either this year,
or 2020 at the latest.
The longer BTC will linger here at the upper bband, the higher the ATH will be :)
And because I live in Germany, where sales from coins become tax free after 1 year of HODLing, I have absolutely nothing against BTC relaxing a bit more, before pushing
towards new highs :)