But I guess that wouldn't be enough as you, like me, want some justification, a technical foundation behind every price movement. And you are right!
So on today's analysis I have used two indicators: the Gaussian Channel and the Normalized (NMACD).
The Gaussian Channel clearly shows that Bitcoin is entering the red ( reversal) zone which in 2015 delivered the last rejection before the final low of the consolidation phase (or as others like to call it the "Accumulation/ Distribution phase"). The final low (in 2015) provided a +165% rise on th next sequence. If we apply this on the current price action, we will be looking at roughly $9650 by December 2019.
Note that both sequences take place within the swing curve leading into the Halvings.
On top of that, the NMACD clearly shows us where we stand within the cycle (noted with purple circles) and the consolidation that is to come.
Do you agree with my $10000 end-of-year estimate? Do you think it is too optimistic? As always let me know in the comments section!
Complementary material for this post: