Bears BTC scenario for 120k price by Dec 2021!!!!!!!
Chart pretty much explains it all. I published a very similar chart not too long ago on Bulls case to 120k. I thought it was only fair to look at both sides.
*PS this is a weekly candle chart only because I like how it fit the screen better.
I spent a lot of time analyzing the 2014 recession, looking at how prices responded to different moving averages and time frames. The ultimate capitulation took one weekly candle that sunk the market over 40%! This is the capitulation event that the bears say we haven't seen yet. Despite us already falling from 6k to 3k in a very short time period back in December. But anyways, we're going to say the Bears are right.
The 200 DMA is a key long term moving average that is used across multiple asset classes to gauge the long term price health of any market.
Prices above = Long term trend is Bullish
Prices below = Long term trend is Bearish
You can have scenario's where markets have a lower shadow wick that touch the 200 DMA and never close below. This is the ultimate "buy the dip" scenario.
Please review the chart going from left to right. I think it's startling how similar the market conditions are and how similar the price action is.
What's amazing in the 2014 capitulation this happened the Week of Jan12th! Well that's anytime now if we assume the time frames are similar. In 2019 I have our capitulation event happening next week.
Final Capitulation in 2019:
BTC breaks below it's 200 Week Moving Average which is the last line of defense for Bulls. If we assume the same rate of capitulation of 2014 we get basically a BTC price of around 2k as the absolute bottom.
It's visually easy to see that BTC price could go over 100k in a couple of years under the right market conditions.
Hope you enjoy and let's see if the bulls or bears are right. Time will tell. But my feeling judgement day is coming soon.
Regards,
Bobby
-Don't hate the hair, hate the game
*PS this is a weekly candle chart only because I like how it fit the screen better.
I spent a lot of time analyzing the 2014 recession, looking at how prices responded to different moving averages and time frames. The ultimate capitulation took one weekly candle that sunk the market over 40%! This is the capitulation event that the bears say we haven't seen yet. Despite us already falling from 6k to 3k in a very short time period back in December. But anyways, we're going to say the Bears are right.
The 200 DMA is a key long term moving average that is used across multiple asset classes to gauge the long term price health of any market.
Prices above = Long term trend is Bullish
Prices below = Long term trend is Bearish
You can have scenario's where markets have a lower shadow wick that touch the 200 DMA and never close below. This is the ultimate "buy the dip" scenario.
Please review the chart going from left to right. I think it's startling how similar the market conditions are and how similar the price action is.
What's amazing in the 2014 capitulation this happened the Week of Jan12th! Well that's anytime now if we assume the time frames are similar. In 2019 I have our capitulation event happening next week.
Final Capitulation in 2019:
BTC breaks below it's 200 Week Moving Average which is the last line of defense for Bulls. If we assume the same rate of capitulation of 2014 we get basically a BTC price of around 2k as the absolute bottom.
It's visually easy to see that BTC price could go over 100k in a couple of years under the right market conditions.
Hope you enjoy and let's see if the bulls or bears are right. Time will tell. But my feeling judgement day is coming soon.
Regards,
Bobby
-Don't hate the hair, hate the game
Comment:
Here is the bull case scenario:
Comment:
In case you missed it..check out why having an average $4k BTC price is the best price to HODL
