TradingShot
Long

Is this time different? 2019 & 2015 after breaking the 1W MA100.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The title says everything. I don't want to get into much detail. Just want to point out the similarities and differences of the two time periods when Bitcoin broke the 1W MA100 after the market made a bottom. Note that it is not necessary to follow the exact same pattern as the fundamentals this time are very strong.

Similarities:

* The rise in 2015 stopped at +145.50% before pulling back. Currently (2019) we are also at +145.50% from the December (and cycle low).
* The MA200 provided support to this strong rise on both occasions.

Differences:

* In 2015 the 1W candle that crossed above the MA100 managed to close below it. Last week's candle failed to close below the MA100.
* In 2015 the following 1W candle after the MA100 break, was bearish and pulled back. The current weekly candle isn't.

It remains to be seen if the MA100 will later provide the support, as it did in 2015, necessary to create the bullish conditions for the next strong bullish sequence. After that test in 2015 BTC never touched the MA100 again until later deep into the bear market and the November 2018 final flush.


So what do you think? Will we test the MA100 again or we'll see it again on the next bear market? Share your thoughts in the comments section!


See a possible scenario on symmetric probabilities if Bitcoin starts 'attaching' the previous Resistance levels:


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TradingShot Ronnie_Dong
@Ronnie_Dong, Thanks Ronnie!
Reply
BTC will reach $1000-$1500

+1 Reply
@moses98, That would break its parabolic support curve that has been defining BTC's bullish course since its inception. There is no chart showing such a development.
+1 Reply
The thing that concerns me is Alts: most of the ones with the biggest promises are not performing well relative to Bitcoin's recent bullish activity. It seems most people have given up on Alts.
+1 Reply
@kardia, Alts will soon have their moment. Capital has been shifting from BTC to alts and inversely on many occasions during cycles. You have given me a good idea for my next analysis.
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The bull run 2017 is all the time intact, try to compare yourself to 2016, do not compare 2014, 2015 nothing will come out.the bull run 2017 is not over yet
+1 Reply
@seba26-77, Can't argue with that. I am only presenting possibilities.
Reply
in the previous bull market from 2015 to 2017 price never correct below MA1000 in weekly time frame

+2 Reply
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