What the future holds for BTCUSD (XBTUSD)?! Long-term prediction
Good day, everyone! We make history!
Why some thought that we can start the next bull run without capitulation and accumulation? It is impossible. Now it is important for most of us to capture the potential trend reversal, which may take up to 8-16 months more.
Capitulation happens when most people feels helpless, their asset looks like it is going to hit 0, people don't think it will ever recover. In my opinion people still believe, so this makes me feel we might touch the previous ATH levels, aka 1k region (in some months time). Can't be sure about it, but better be prepared for it. Levels of importance (potential support): 3700, 2900, 1890, 1330, 1040. I am really hoping we won't see BTCUSD in three digits, so I won't mark these levels. ;) Important resistance levels: too many right now, so I will make a special post about them.
My thoughts are based on the previous big BTC crash, EMAs & MAs and market cycle in general.
This is what I expect to see:
This is an old chart, but it shows my RSI thoughts for a trend reversal.
Here is the updated version:
This is a live chart to watch for my updates: www.tradingview.com/chart/HdXLMpGX/
Why some thought that we can start the next bull run without capitulation and accumulation? It is impossible. Now it is important for most of us to capture the potential trend reversal, which may take up to 8-16 months more.
Capitulation happens when most people feels helpless, their asset looks like it is going to hit 0, people don't think it will ever recover. In my opinion people still believe, so this makes me feel we might touch the previous ATH levels, aka 1k region (in some months time). Can't be sure about it, but better be prepared for it. Levels of importance (potential support): 3700, 2900, 1890, 1330, 1040. I am really hoping we won't see BTCUSD in three digits, so I won't mark these levels. ;) Important resistance levels: too many right now, so I will make a special post about them.
My thoughts are based on the previous big BTC crash, EMAs & MAs and market cycle in general.
This is what I expect to see:
This is an old chart, but it shows my RSI thoughts for a trend reversal.
Here is the updated version:
Comment:
I realized that the previous link to my live idea wasn't the right one. So here it is: www.tradingview.com/chart/iWLHjdVJ/