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BITCOIN's Final Barrier: MA100. Are we going to 4500 or 10000?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Well the title says everything so I might as well make this analysis a short one.

BTCUSD is rising aggressively having almost filled the Gap from November 2018, when the final big drop took place. It is now about to test the MA100 (black) on the weekly chart, which is essentially the final bearish barrier before it starts rising and never look back.

If the MA100 breaks, BTC will most likely wave the 3000 - 4000 level and MA200 good bye for good and eye $10000 by the end of the year. If rejected on the other hand it will most likely seek support on the 1W MA20 (orange). This pull back is projected within 4200 - 4500, giving one last good buy entry before the 10000 mark.

I need to make very clear that in all of Bitcoin's recovery phases, the MA20 on weekly has been revisited at least once before the new bull market officially began (as seen below):



So what do you think? Do you expect the MA100 to reject the price and give those late to the party a final chance to buy? Or we are on a journey straight to 10000? Let me know in the comments section!


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Comments

Im sure as everybody is that it will bull back. But timing... Be it MA100 or when longs equal shorts that's the question ...
Looks like neets ain't selling the rally as usual, so when FOMO starts and brings some new cash to initiators it will drop.
Although judging by the number of shorts there is no FOMO from the sidelines.
Only alt dumping. Hodlers saving little what they have left.
Maybe current pumpers will just join the bears and try to cause FOMO from the pullback.
Like you illustrated it worked every other time in the past.
FOMO buyers don't believe and are not willing to gamble on this first bullish rally in quite a long time.
Good/bad news for alt holders when BTC dumps, but most likely a bottom for them. Good projects at least will come up.
Correction on BTC is very natural at this point.
+4 Reply
TradingShot Trendbeat
@Trendbeat, Well said. Also interesting to mention that some of the profit from the alt dumping is diverted to Bitcoin.
Reply
I feel like we MUST have a correction soon, but I'm still not taking my BTC profits, because of course the best trades of all are the ones that defy all expectations by rising and rising and rising.....that's a chance I'm willing to take in this scenario.

+3 Reply
TradingShot GlenGoodman
@GlenGoodman, Excellent trade.
Reply
Well, everybody is guessing. ha-ha-ha
And that my friend is exactly what is wrong with this market :)
The perfect Gambling Device
+3 Reply
@mbc47, Interesting view but so untrue. Red and black without any obvious pattern is gambling. This is not.
Reply
mbc47 TradingShot
@TradingShot, Dude :)
Most major comparison points w/ 2015 so far :)
20 MA W - was suppose to hold more
50 MA W - was suppose to push us down for another 1.5-2M

What is not true?
Be fair - don't always adjust
+1 Reply
mbc47 mbc47
@mbc47, TA in crypto is really guessing what the whales have in mind. Regular TA is as good as getting into trouble :)
It is what it is - not saying you are doing anything bad - on the contrary your TA is great, but this is crypto - Gambling Device
+1 Reply
@mbc47, Crypto trading is more suited on longer time frames like 1D for that exact reason. On large time frames this noise (volatility from pumping, dumping) is negated. But I wouldn't call that "gambling". Thank you for the good words though.
Reply
mbc47 TradingShot
@TradingShot, You didn't comment on:
20 MA W - was suppose to hold more
50 MA W - was suppose to push us down for another 1.5-2M

That is even W, not D.
+1 Reply
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