Bitcoin's predicted next move - Hitting 20k and moving up to 25k
I’m more of a stock trader on a full-time basis, but we cannot ignore what is going on in the BTC at the moment.
So, I’m going to put all the fundamentals aside for a moment and focus on the Technicals only.
The volume profile in the chart tells us a lot about the BTC jump made in the last weeks.
We can see that the areas of 16500 – 17500 is a point of struggle and once we cross the 17500 we are expected to have a smooth sailing all the way to 18950- as we can see in that range we didn’t have much of selling volume.
If we get in the accumulation stage between those ranges of 16.5 -17.5, we will expect a sideways trend with a bullish flag meaning BTC will break through that level and continue to the 19000 zone.
The BTC at the moment is still in a bearish trend since losing its 19k peaks and it is now trending in 16500 – 17500 and as it seems trying to make a move back to a bullish trend and IF it will take out the 17450 line -that is a clear buy signal to the 19000$ mark.
We must keep an eye on the VWAP to keep seeing the price action above it as it crossed it today, and if this will continue, we are looking at a swing to a bullish trend.
As it seems in my eyes at the moment BTC is going to be at a STABLE 20,000 before end of Q1 2021 and once it will finish its consolidation there the next mark seems 25,000.
See chart on longer time frame:
So we can see the impulse wave on BTC is finishing stage 4 – usually the most massive correction of an impulse wave and from there it will start its 5th part of the impulse wave.
The 5th part will a bit less then 2 months and will reach 25,000$ towards the end of February 21 – as it took BTC 77 days to go from 10,000 to 19,000, we expect the last part of the wave to be slower then the 3rd wave as the 3rd wave is the fastest moving wave usually.
So to sum up:
1. BTC crosses 20k before years end
2. BTC touches 25k before end of February 21
Please feel free to text me any questions you have, just please always be aware of the market and don’t be stuck in routine of job only to support yourself –my favorite sentence ever is :
Work from 9 17 and let your money work from 17 -21 😊
Leeroy
So, I’m going to put all the fundamentals aside for a moment and focus on the Technicals only.
The volume profile in the chart tells us a lot about the BTC jump made in the last weeks.
We can see that the areas of 16500 – 17500 is a point of struggle and once we cross the 17500 we are expected to have a smooth sailing all the way to 18950- as we can see in that range we didn’t have much of selling volume.
If we get in the accumulation stage between those ranges of 16.5 -17.5, we will expect a sideways trend with a bullish flag meaning BTC will break through that level and continue to the 19000 zone.
The BTC at the moment is still in a bearish trend since losing its 19k peaks and it is now trending in 16500 – 17500 and as it seems trying to make a move back to a bullish trend and IF it will take out the 17450 line -that is a clear buy signal to the 19000$ mark.
We must keep an eye on the VWAP to keep seeing the price action above it as it crossed it today, and if this will continue, we are looking at a swing to a bullish trend.
As it seems in my eyes at the moment BTC is going to be at a STABLE 20,000 before end of Q1 2021 and once it will finish its consolidation there the next mark seems 25,000.
See chart on longer time frame:
The 5th part will a bit less then 2 months and will reach 25,000$ towards the end of February 21 – as it took BTC 77 days to go from 10,000 to 19,000, we expect the last part of the wave to be slower then the 3rd wave as the 3rd wave is the fastest moving wave usually.
So to sum up:
1. BTC crosses 20k before years end
2. BTC touches 25k before end of February 21
Please feel free to text me any questions you have, just please always be aware of the market and don’t be stuck in routine of job only to support yourself –my favorite sentence ever is :
Work from 9 17 and let your money work from 17 -21 😊
Leeroy
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