Welcome to a long term projection of Bitcoin.
You are viewing :
· Monthly chart
· EMA12 (Black)
· MA48 (White)
· Volume MA12
Bitcoin is currently riding the support of EMA12.
A breakdown is expected, as pressure from bears in this price region continues.
The RSI has showed overoptimistic tendencies and is now declining to neutral range.
Target for a corrective wave is 5000-6000$ region based on fibs, trend and moving averages and pattern formations and is likely to hold up as support and formation of next major bullish wave.
The monthly chart currently is in somewhat equilibrium to create price action in either direction, however bearish tendencies are slightly in favor at this point in time.
A break above approx. 10,500$ would open the doors for a continuation move upward, however my conclusion is that this event is not likely right now.
Long term the case for bullishness on Bitcoin remains strong and my projection is approx 180,000$ max and minimum 30,000$ per BTC in the next 3 years.
However, a move to the corrective 0.382 fibonacci channel and a price below 4,000$ invalidates this long term projection.
This is based of:
· time cycle
· cyclic times
· sine waves
· average price increase
· fibonacci confluences
· gann
and more...
2022 is a year of significance for bitcoin, screencap this...
I hope you enjoyed this analysis,
Have a nice weekend!
You are viewing :
· Monthly chart
· EMA12 (Black)
· MA48 (White)
· Volume MA12
Bitcoin is currently riding the support of EMA12.
A breakdown is expected, as pressure from bears in this price region continues.
The RSI has showed overoptimistic tendencies and is now declining to neutral range.
Target for a corrective wave is 5000-6000$ region based on fibs, trend and moving averages and pattern formations and is likely to hold up as support and formation of next major bullish wave.
The monthly chart currently is in somewhat equilibrium to create price action in either direction, however bearish tendencies are slightly in favor at this point in time.
A break above approx. 10,500$ would open the doors for a continuation move upward, however my conclusion is that this event is not likely right now.
Long term the case for bullishness on Bitcoin remains strong and my projection is approx 180,000$ max and minimum 30,000$ per BTC in the next 3 years.
However, a move to the corrective 0.382 fibonacci channel and a price below 4,000$ invalidates this long term projection.
This is based of:
· time cycle
· cyclic times
· sine waves
· average price increase
· fibonacci confluences
· gann
and more...
2022 is a year of significance for bitcoin, screencap this...
I hope you enjoyed this analysis,
Have a nice weekend!
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Previous major BTC analysis:
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10/10
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