With this chart, you hold the power of the almighty classical technical analysis in your hands. You will LIKE, bookmark and track the BTC price on this chart by yourself for months to come and know exactly what shape the Bitcoin market is in, be it bullish or bearish. By knowing these key zones, you can properly plan out when to buy more and temporarily sell your stash so you can get in lower.
ZONE 1 - MOON ZONE
When the Bitcoin price moves up to this zone, the market is likely going parabolic so expect the price to shoot up like crazy. I would say $100K is a fair bet. This is the zone where Peter Schiff would start to blink twice, stare at his stash of useless gold bars and say, "hey, this BTC thingy isn't all that bad of an investment. maybe I should sell a few nuggets for some Satoshi."
ZONE 2 - VERY BULLISH ZONE
Nothing to worry about. The Bitcoin price moving into this zone is considered as a healthy pullback. This is a zone where many people will still buy because this is where the price consolidates (bulls resting) after a long rally. The probability of price moving up to the Moon Zone is very high.
ZONE 3 - BULLISH ZONE
Most traders would still consider a price correction at this range to be bullish because Bitcoin still trades above the parabola (parabolic trendline). As long as the BTC price stays above the parabola, you can expect more upside from this market.
ZONE 4 - BEARISH ZONE
When the BTC price drops into this zone, it means Bitcoin's key market structure is already broken. Short trades will mount up to put more sell pressure on the price so a reversal would be an uphill battle but not impossible. A successful recovery would require bulls to push the price out of this zone so that the weekly candle closes in the Bullish Zone, leaving only a wick behind. However, if a weekly candle closes in this zone, you better start praying for a miracle because deep losses are likely to extend.
ZONE 5 - VERY BEARISH ZONE
If you still hold your BTC at this point, then you are probably a long lost cousin of a Kryptonian because my friend, you have got BALLS of STEEL and I guarantee you that no one would argue this fact!
ZONE 6 - DOOM ZONE
You must be an OLD SOUL, someone who is very nostalgic and you treasure all the countless late nights you had stayed awake for Bitcoin. You don't care what other people say because even if there is no value, you still want to keep your Bitcoin as a sweet momento, Wrong! This is a zone where institutions would buy Bitcoin like there is no tomorrow because as famous contrarian investors like Baron Rothschild would say, "the time to buy is when there's blood in the streets." The question is, do you have the guts to do it?
ZONE 1 - MOON ZONE
When the Bitcoin price moves up to this zone, the market is likely going parabolic so expect the price to shoot up like crazy. I would say $100K is a fair bet. This is the zone where Peter Schiff would start to blink twice, stare at his stash of useless gold bars and say, "hey, this BTC thingy isn't all that bad of an investment. maybe I should sell a few nuggets for some Satoshi."
ZONE 2 - VERY BULLISH ZONE
Nothing to worry about. The Bitcoin price moving into this zone is considered as a healthy pullback. This is a zone where many people will still buy because this is where the price consolidates (bulls resting) after a long rally. The probability of price moving up to the Moon Zone is very high.
ZONE 3 - BULLISH ZONE
Most traders would still consider a price correction at this range to be bullish because Bitcoin still trades above the parabola (parabolic trendline). As long as the BTC price stays above the parabola, you can expect more upside from this market.
ZONE 4 - BEARISH ZONE
When the BTC price drops into this zone, it means Bitcoin's key market structure is already broken. Short trades will mount up to put more sell pressure on the price so a reversal would be an uphill battle but not impossible. A successful recovery would require bulls to push the price out of this zone so that the weekly candle closes in the Bullish Zone, leaving only a wick behind. However, if a weekly candle closes in this zone, you better start praying for a miracle because deep losses are likely to extend.
ZONE 5 - VERY BEARISH ZONE
If you still hold your BTC at this point, then you are probably a long lost cousin of a Kryptonian because my friend, you have got BALLS of STEEL and I guarantee you that no one would argue this fact!
ZONE 6 - DOOM ZONE
You must be an OLD SOUL, someone who is very nostalgic and you treasure all the countless late nights you had stayed awake for Bitcoin. You don't care what other people say because even if there is no value, you still want to keep your Bitcoin as a sweet momento, Wrong! This is a zone where institutions would buy Bitcoin like there is no tomorrow because as famous contrarian investors like Baron Rothschild would say, "the time to buy is when there's blood in the streets." The question is, do you have the guts to do it?
