This is the first TA that I share on Tradingview, I have been in the market for 1.5 years now. I have learned a lot since I entered the market.
I've made a comparison of the bear market in 2014 and now, I know that this is what everybody does at the moment, but it is too nice to keep it for myself. I have cloned every line, and made the white line to have the same duration and percentage drop as in 2014. I also extrapolated the 100 and 50 day moving average just a litte bit. They will cross 18 Februari.
Based on this, I think we have already hit the bottom, and are now in for range bound trading between 3000 and 4200 until July 2019. Then the bull market shall start, if the market will repeat itself. Just for fun: this means we are going to see a 300.000 USD Bitcoin in November 2021.
What do you guys think of it?
1. the current bear market will be longer than the previous one (we estimate that in Aug 2019 it could end)
2. the next bull run, if there will be another one, will be longer in time and will have a much lower percentage increase than the previous one - if the reduction of the multiplier is the same, it could go up to 2750% from the low of this bear market (TBD) => highly unlikely for BTC to go above 70k
Take a look at our TA: