Ultimate '19 Bear Market Target >>$1350 (Bollinger Bands weekly)
If you check out the Bollinger bands on the weekly BTC chart, you would see how over extended they become when BTC hits its all-time highs.
Using a basic analysis on the Bollinger Bands bottom (lows) at each all time high, gives a very good projection/indication of the lowest price range of BTC in each following bear market.
Projecting the above theory to the December 2017 bubble, we can project that the BTC bottom will be around the $1350 price (ranging between $950 and $1755) within the March-May 2019 window.
My best guess is a quick shot down to the $1350 target from the $3k levels sometime in late Feb/early March, followed by a swift U-shaped recovery back to the $3k levels in April to begin the new consolidation phase & Bull market...
Using a basic analysis on the Bollinger Bands bottom (lows) at each all time high, gives a very good projection/indication of the lowest price range of BTC in each following bear market.
Projecting the above theory to the December 2017 bubble, we can project that the BTC bottom will be around the $1350 price (ranging between $950 and $1755) within the March-May 2019 window.
My best guess is a quick shot down to the $1350 target from the $3k levels sometime in late Feb/early March, followed by a swift U-shaped recovery back to the $3k levels in April to begin the new consolidation phase & Bull market...
Comment:
Furthermore, the market sentiment that the bear market is over and that the bottom is in is still a bit too strong. REAL depair and loss of interest hasn't FULLY kicked in yet for the majority of retail investors. A final capituation to the $1k levels makes sense. This is not to say that BTC can have a relief rally prior to the final capitulation.