Bitcoin and the aggregated crypto market are seeing growth as the stock market rallies. This comes shortly after Pfizer announced that their vaccine for the rapidly spreading virus has 90% effectiveness.
This is great news for the stock market in terms of reducing global uncertainty and boosting the economy, but it is bad news for safe haven assets like gold – which have nosedived.
Bitcoin is still steady in $15 000 - $16 000 region. Nevertheless, one of analysts believes a move past $16 000 is just a very beginning. You can see his Bitcoin price action forecast till the end of the November with a possible monthly displacement till December 2020.
He found Bitcoin price action will confirm parabolic pattern in case of finishing 3rd consolidation base on November 15th at the area above $15 700. This scenario can lead the price to a new ATH around $23 600 level in case of burst which occurs after parabolic pattern completion. You can see risk management and target levels for the analysis at the chart
Will Bitcoin reach a new ATH in the following months? It will be a miracle and a disaster at the same time. Last time Bitcoin grew enormously in parabolic pattern we had 2 years of depression at the cryptocurrency market. Anyway we cannot affect the market so let's just prepare a bag of pop corn and see how the situation develops!
DISCLAIMER
Do Your Own Research. The content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances.
This is great news for the stock market in terms of reducing global uncertainty and boosting the economy, but it is bad news for safe haven assets like gold – which have nosedived.
Bitcoin is still steady in $15 000 - $16 000 region. Nevertheless, one of analysts believes a move past $16 000 is just a very beginning. You can see his Bitcoin price action forecast till the end of the November with a possible monthly displacement till December 2020.
He found Bitcoin price action will confirm parabolic pattern in case of finishing 3rd consolidation base on November 15th at the area above $15 700. This scenario can lead the price to a new ATH around $23 600 level in case of burst which occurs after parabolic pattern completion. You can see risk management and target levels for the analysis at the chart
Will Bitcoin reach a new ATH in the following months? It will be a miracle and a disaster at the same time. Last time Bitcoin grew enormously in parabolic pattern we had 2 years of depression at the cryptocurrency market. Anyway we cannot affect the market so let's just prepare a bag of pop corn and see how the situation develops!
DISCLAIMER
Do Your Own Research. The content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances.
Trade active:
Here you can see a potential consolidation path to the edge of the parabola. There is also displayed expected burst after finishing of parabolic pattern.
Usually when such patterns finishes a market faces FOMO of new attracted users which starts a burst growth wave which finishes with a sharp fall
Consolidation path at the 1H chart time frame
Usually when such patterns finishes a market faces FOMO of new attracted users which starts a burst growth wave which finishes with a sharp fall
Consolidation path at the 1H chart time frame
Trade active:
The price action has accurately touched mentioned at the chart level and then bounced from the edge of the parabola. Currently the price is $16 413 and we have closed our short-term marginal x5 long position. You can check the initial analysis and see the entry was $15 726 so the realized return on equity is 21.9%
We are still in the long-term position which targets are displayed at the initial analysis chart. Stay tuned and join our premium to receive such trades
We are still in the long-term position which targets are displayed at the initial analysis chart. Stay tuned and join our premium to receive such trades
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Currently Bitcoin's price consolidates near local support zone of $17 800 to continue its rally to new ATH and to our 2nd target