Publishing my first idea here, chose a bulish price analisys prediction on BTC for th next 6 months Let me know what the experts think. Be kind please, I have been trying to evolve my analytical skills over the last few months with mixed results, but remember its my first time publishing.I appreciate all the contructive criticism and maybe some not so constructive :) Thank you.
Looking at the trend channel initiated around March 2020, which has been somehow respected, i found similarities in price action to the moment we're currently on.
IF history were to repeat itself, I wouldn't be surprised if a strong pullback to the area in the low €40k, repeating the pullback in NOV2020 (both highlighted in yellow) which took the price from 15k to 11k and then rallied up until MAR2021.
This would happen in the coming days, priming things up for a great rally, running until MAR 2022, which would bring BTC's price to around ~€180k(~200k USD), as exemplified by bars pattern.
A more conservative, but bulish approach is projected by the dark blue bars, wich would still bring prices up to the ~€75k area, 86k by Christmas.
Once again, I'd appreciate any feedback, from the community.
Great analysis, we could see something similar like you suggest. I agree, the lowest I believe we could fall to is 48K. At best I think we see further consolidation for a while. But the fact we didn’t plummet straight after reaching an all time high is a positive and gives potential for good growth over the next coming months.
B1gBall5
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@EssJayJay, thank you for looking, i appreciate the time you took and the feedback. I do agree with your 48k prediction, I actually thought it'd be more accurate but was trying to keep it somewhat conservative. Cheers :)
PS, I'll try and keep the indicators of my coming posts for better visibility