BTC-USD: forecast for 2020 and onwards (19000 by Dec 2020?)
Hello All,
For the very first time I am trying to make a projection on BTC PA for 2020 and onwards.
There are some tools which allow us to make such projections like, 1)Pitchforks, 2)Fib circles and 3) Fib time zones.
I am not an expert in these tools, so please do not consider this as any sort of financial advice, this just for educational purpose.
Using these 3 tools here I made some price calculations and I am presenting both bearish and bullish targets with possible time lines.
How I plot these on the chart?
. For the Schiff pitchfork, 3 pivots I used are 2013 top – 2015 bottom – 2018 top.
. For Fib time zones, I used Direction Trade indicators and used Daily death/golden cross as start points.
. For Fib circle, I used PA from 2017 onwards.
Bearish possibilities:
As we all know with current PA (as of 2 Jan 2020) BTC is more Bearish than bullish.
Using the Price Action (PA) data we have, I made a pitchfork (pf) which covers most important price pivots (check on the chart).
Some highlights of this pf are,
1) The midline of this pf was a major S/R level during BTC parabolic run from 1000$ to 20000$ (also called the BTC drop from 6000 to 3150)
2) The fib pockets (marked in golden lines) also acted as major S/R zones,
3) During 2019 parabolic run from 3150$ to 13000$ same mid line acted as crucial S/R.
Based on this pf, we can see that if BTC drops further then the golden pocket from 5200-4200 becomes an ideal long/buy opportunity for long term.
If I overlay the Fib time zones then we can see that BTC could hit this zone from 23 Jan 2020 to 15 April 2020.
The Fib circle also gives us similar targets for the BTC bottom. There are lower targets for BTC but with the data we have, I don’t think BTC will drop below 4200 zone (Note: As we get more PA data I will update my view).
Bullish possibilities:
Here is where the main forecast comes in. I have highlighted the most important targets from the Fib ring (Note: As we get more PA data I will update my view, I will also update these charts and post them on TV and in my discord).
I believe that this Fib ring will play a very important role to decide BTC PA for next couple of years.
When we overlay the Fib time zones with this ring we see some key targets line up nicely with its time projections.
. The very first observation is that, BTC might be at 19000$ by Dec 2020.
. Secondly, this also indicates that BTC could rise to 30000-44000 $ by end of 2021. This is pretty interesting.
Additionally, if we overlay the pf and Fib circle we get whole range of probable targets. Here I have highlighted some important once. The key point here is, all points where Fib circle interacts with pf could be a very important pivot, and we see this happen in the past PA (white arrows).
With PA data we have now here is what I am watching for,
1. BTC bearish break to test lower 6000 to 4200 level.
2. Bottom formation and starting new Bull Run.
If you agree give a like and follow :) do share below if you have other ideas.
Happy and safe trading...
Chao...
For the very first time I am trying to make a projection on BTC PA for 2020 and onwards.
There are some tools which allow us to make such projections like, 1)Pitchforks, 2)Fib circles and 3) Fib time zones.
I am not an expert in these tools, so please do not consider this as any sort of financial advice, this just for educational purpose.
Using these 3 tools here I made some price calculations and I am presenting both bearish and bullish targets with possible time lines.
How I plot these on the chart?
. For the Schiff pitchfork, 3 pivots I used are 2013 top – 2015 bottom – 2018 top.
. For Fib time zones, I used Direction Trade indicators and used Daily death/golden cross as start points.
. For Fib circle, I used PA from 2017 onwards.
Bearish possibilities:
As we all know with current PA (as of 2 Jan 2020) BTC is more Bearish than bullish.
Using the Price Action (PA) data we have, I made a pitchfork (pf) which covers most important price pivots (check on the chart).
Some highlights of this pf are,
1) The midline of this pf was a major S/R level during BTC parabolic run from 1000$ to 20000$ (also called the BTC drop from 6000 to 3150)
2) The fib pockets (marked in golden lines) also acted as major S/R zones,
3) During 2019 parabolic run from 3150$ to 13000$ same mid line acted as crucial S/R.
Based on this pf, we can see that if BTC drops further then the golden pocket from 5200-4200 becomes an ideal long/buy opportunity for long term.
If I overlay the Fib time zones then we can see that BTC could hit this zone from 23 Jan 2020 to 15 April 2020.
The Fib circle also gives us similar targets for the BTC bottom. There are lower targets for BTC but with the data we have, I don’t think BTC will drop below 4200 zone (Note: As we get more PA data I will update my view).
Bullish possibilities:
Here is where the main forecast comes in. I have highlighted the most important targets from the Fib ring (Note: As we get more PA data I will update my view, I will also update these charts and post them on TV and in my discord).
I believe that this Fib ring will play a very important role to decide BTC PA for next couple of years.
When we overlay the Fib time zones with this ring we see some key targets line up nicely with its time projections.
. The very first observation is that, BTC might be at 19000$ by Dec 2020.
. Secondly, this also indicates that BTC could rise to 30000-44000 $ by end of 2021. This is pretty interesting.
Additionally, if we overlay the pf and Fib circle we get whole range of probable targets. Here I have highlighted some important once. The key point here is, all points where Fib circle interacts with pf could be a very important pivot, and we see this happen in the past PA (white arrows).
With PA data we have now here is what I am watching for,
1. BTC bearish break to test lower 6000 to 4200 level.
2. Bottom formation and starting new Bull Run.
If you agree give a like and follow :) do share below if you have other ideas.
Happy and safe trading...
Chao...
