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OwnIt-Crypto
Sep 11, 2019 5:49 PM

Bitcoin: Late 2019-Early 2020  Long

Bitcoin / U.S. dollarBitstamp

Description

Bitcoin price forecast.

Don't follow my charts!
Comments
just5
pray)
cryptospawn
Hello Ownit. Looking at your chart above we can see that the previous spike period (Dec 2017), ends in consolidation, followed by a steep cliff. We can also see that this past spike period, Jun 2019 through today looks almost like an exact replica of the Dec 2017 spike. In fact it looks to be consolidating just as the Dec 2017 one did before falling off the cliff. I see you have wisely included a cliff in your forecast, seeing as market prices reflect human behavior and is expected to repeat. The cliff you're forecasting is a dip down to the low 8K's range, same as I predict. However I see you're forecasting a quick recovery after the cliff, giving BTC only a week or so in the gutter. Looking at the Dec 2017, we spent about 3 months in the gutter. Although it's obvious that this cycle seems to be a miniature version of the Dec 2017 cycle, I can't see it lasting only a week as this seems short. I was thinking BTC would dip to the low 8's then range for about 2 or 3 weeks before assuming its upward trend. Can you comment on why you forecast such a speedy recovery form the predicted lower 8k"s dip please?

Thank you
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