filbfilb

Bitcoin Forecast; End of Year Bull Run.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Clearly defined Monthly ranges on the Bitcoin Chart.

A Superb recovery fo the price of Bitcoin but approaching major supply zone . Could see a climatic Fomo halving attempt across $10k which may prove too much for the bulls to close on the monthly and more time in the range 9.2 - 6.5 could be needed. It might be frustrating for the bulls but would provide a solid base with potential for a higher low and a right shoulder / Wyckoff pattern on higher timeframes which would Position the market superb for a bull market end 2020 and into 2021.

Will add to this in due course but consider this a broad end of year forecast.

Worth checking the linked chart here too in the context


we could see up a right shoulder and really gain some momentum into the end of the year.

Drop it alike and all follow all the other stuff in the footer if useful, cheers.

Filb
Comment: Starting to show some initial signs of rejection which we have seen before.

Comment:
Comment: High timeframe now serving as resistance.
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Comments

I don't know, bro'. I just don't see us breaking below 8k again...7700 the lowest, but I really think we are done with that area. I think we see a new range low in the 8200-400 range take shape. Still need to figure that new miners bottom out though. Thanks for sharing your work with the community.
+13 Reply
Tbjbu2 WhaleBearPig
@WhaleBearPig, 12-14k new miners bottom.
+2 Reply
@Tbjbu2, 3.2 was miners bottom before halving which got hit - that has now doubled so 6500 ish is the new miners bottom check miner rev chart on trading view
+7 Reply
filbfilb WhaleBearPig
@WhaleBearPig, Yeah its a bit controversial but a post halving selloff after a 100% + gain off the bottom kinda makes sense - some others think a further capitulation should happen post halving. Happened last time due to Finex hack and you might argue we just had a premature one..but given the current climate I bit more ranging and then a 14k attempt by EoY would suit me :)
+10 Reply
Tbjbu2 filbfilb
@filbfilb, Bro those that bought in those levels won't be selling anytime soon...
+2 Reply
filbfilb Tbjbu2
@Tbjbu2, there are bigger and more sophisticated investors than your average player don’t underestimate it.
+5 Reply
happytradesmore WhaleBearPig
@WhaleBearPig, I have a bullish bias above the 21wma. But if it breaks, look out below
+1 Reply
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