MagnusTradingGroup
Long

Bitcoin: A Longterm Outlook

BITFINEX:BTCUSD   Bitcoin / Dollar
a year ago
It might take a couple years before another rally.

The next 4 months I expect price failing at the red trend line and coming back down to 220-300 depending on how strong demand is there and therefore if it's worth for whales to try running the stops bellow 230.

The 800-900 target is derived from meassuring the distance at the widest place within the triangle, and projecting that same distance (150%) from the (expected) breakout point upwards.

a year ago
Comment: This forecast is rendered invalid if the red trend line is broken prematurely (e.g. the next couple months) So don't hold to your shorts after (both) red trend lines break.
Esper
a year ago
Very nice! Glad you decided to publish it!
+2 Reply
MagnusTradingGroup Esper
a year ago
It's really motivating to have subscribers like you, Esper :]
+1 Reply
IvoZ
a year ago
that 240-260 area seems so far away now. Many people saying we won't be seeing those levels again anytime soon.
+2 Reply
alteredend
a year ago
This recent pump was too early to be due to next year's halving, according to this you see halving only pushing price down?
+2 Reply
bbrox
a year ago
You have published so many targets and scenarios that one might as well have none instead of all and be correct always. North, South, West, East, there is were we are going. Agree.
Reply
bbrox bbrox
a year ago
Ditch that comment. I agree with you longterm on consolidation.
+1 Reply
JeroenHouttuin
a year ago
Those are some pretty arbitrary trend lines.
Reply
purpurato59 PRO JeroenHouttuin
a year ago
Trend lines would be curved on log scale plots... I'm not sure how valid they are, I agree with Jeroen.

Nevertheless I agree on the long term consolidation !
Reply
MagnusTradingGroup purpurato59
a year ago
This chart is based on logarithmic scaling
Reply
BigWillyStatus
a year ago
love this
+1 Reply
Ingemkts
a year ago
You know I like so much your chart, in fact your chart matches with my OKCoin chart. ;)
+1 Reply
MagnusTradingGroup Ingemkts
a year ago
<3
+2 Reply
MarshaIII
a year ago
it's about to break both trendlines. any updates?
Reply
MagnusTradingGroup MarshaIII
a year ago
It's not even close to breaking the first line :D
Reply
BuyBitcoin.WS MagnusTradingGroup
a year ago
looks like some blood incoming im expecting a steep mega bear trap down to 275-280 (could stop at 300) then back up to 400s
+2 Reply
BuyBitcoin.WS BuyBitcoin.WS
10 months ago
$275 target in progress - using time node analysis.

snapshot
Reply
Corben
a year ago
the 2016 forecast is complete nonsense -
after the blocksize solution and the blockhalving event the incentives for prices over 1000 are very strong, especially in a situation where the pos/neg news ratio flips completely to pos
Reply
BigGreen
a year ago
Very well, that only the first target in 2016
Reply
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