Bitcoin hit 13863.44. Does anyone know what bitcoin closed December 31st 2017 at? It was $13863.13. But the supply since that date has increased by 980847.5 BTC. Meaning we are already way above the 2017 supply and price action will continue going up with volume. We are essentially higher now than in December 2017. That being said, I dont think the bears or the market is ready for us to move higher currently, but that's OK. You have to remember that not everyone knows about this and that you are one of the few individuals that understands this stuff. But lets take a look at my chart. I don't see us moving above 12460, at the 0.786 Fib retracement. If we do, we will likely hit that downward trend line on the top. I have that in red to visualize on my graphs where to sell. Green is good entry places. I'm still experimenting and trying to figure this stuff out. My charts are about looking at a majority of moves, rather than just saying x y and z will happen. I do think we are in a larger correction and right now is a perfect time to just sit and watch. If price and demand shoot though all of this chances are we will simply move up to 20k. I don't see that as a possibility and I think the sin wave will help us decide where and when price will fall.
The lowest i see it going is 7.5k, but even 8.5k would be a great place to buy in my opinion.
I very seriously doubt we will move above the 13.8k level simply because in december we closed at those levels. Plus the fact we were only $0.31 cents off really drives home to me that this was the top. I'm expecting at least a minimum 21 day correction.
The lowest i see it going is 7.5k, but even 8.5k would be a great place to buy in my opinion.
I very seriously doubt we will move above the 13.8k level simply because in december we closed at those levels. Plus the fact we were only $0.31 cents off really drives home to me that this was the top. I'm expecting at least a minimum 21 day correction.