Hi everyone, this is my first post so let's see how it goes...(Full disclaimer: I am posting this idea the same as everyone else and by no means am I saying this is how things will play out and therefore it can't be seen as investment advice going forward. Do your own analysis and make your own decisions).
The above chart stretches from 2011 to date and going forward and illustrates a long-term view of where I think Bitcoin could go according to the charts. As we can see,
BTCUSD
has moved in this channel, ranging from top to bottom, constantly going higher. I see a lot of traders posting their ideas and that's exactly what they are, ideas, and this one is no different. Wouldn't it be amazing if we could all accurately predict the future and know exactly where the top or the bottom would be?? Well actually, that wouldn't be so amazing, cause then the market wouldn't be able to operate the way it does :). Someone makes money when someone else loses money, unfortunately that's just the way it is. Anyway, looking at the above chart, we can see that Bitcoin is in a downtrend similar to 2011 and 2014 and one thing that I've noticed a lot of people say is that Bitcoin is sh*t and they're over it and they don't believe crypto will experience the amazing growth it has to date going forward. All of those could be interpreted as valid points if you take a short-term view of it. According to the chart, we could possibly be in the 4th wave of Bitcoin growth and a POTENTIAL turnaround price may be waiting for us around $1166, give or take a few Dollars.
I've plotted where I suspect the 5th wave might go, which by the way goes up until 2021(2-3 years up, 1-1.5 years down) and to a potential price tag of around $200k.
The only way we can follow and see if this plays out is to be patient and see what happens.
Thanks everyone, comments and ideas are welcome. Please let's keep it to positivity :)