First major resistance is 43,000 to 57,000, if this breaks above these numbers, then the next stop is $200,000 to $418,000 if the monthly Macd Crosses as shown using the Fibonacci circles and pitchfork. This should happen within a year to a year and a half of the Monthly Macd Crossing Good luck to everyone. This update is for entertainment purposes, should you require financial advise, seek out a professional. Thanks.
Lol I like some of your other analysis but this is nonsense. Crypto is only up because it’s being defended by whales and can be trivially manipulated. If we get a recession and enough people start trying to cash out it’s going to 0 lol
john005
⋅
@phil3176, it all depends on the US dollar, maybe a crash in the dollar value will have a offsetting effect on the price of bitcoin. I use Fibonacci circles, pitchforks, and monthly MACD's to spot a definite trend and they have been accurate as seen in the other analysis that you liked. When the Monthly Macd turned negative, I was looking at a low of 13,000 on my bearish outlook but the low ending up being 15,000. Same as now, the Macd will turn positive and the pitchfork and circles are indicating a final high between 200,000 to 418,000. I appreciate your comment and hope that you will make a ton of money either way. Good luck to you :).
phil3176
⋅
@john005, don’t think the US dollar will crash especially since the fed will likely go back to 50bp hikes. Bitcoin should have gone below 15,000 but remarkably, when ftx and other exchanges were imploding, Bitcoin experienced the least volatile trading period in over 10 years. It’s hugely suspect. I hope you also make some money though. I do appreciate your posts. Good luck to you as well !
phil3176
⋅
@phil3176, oh I should also note i am slowly averaging into the in inverse Bitcoin etf BITI. Lol. Let’s revisit this in a few months !
john005
⋅
@phil3176, Good luck, anything can happen, nothing is written in stone. We make our best estimates according to the data but everything depends on experience and our individual interpretation of the data available.