BITCOIN can test $20000. A 2020 year-end projection.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
New year for Bitcoin and a whole new possibilities ahead. On this study I will share my 2020 year-end projection. There is no better place to start with than using the previous Bull Cycle, namely the start of it (2016 - 2017), as a reference point.

*The time from All Time Highs ( ATH ) to ATH test*
I think it is useful to point out that during the previous BTC Cycle (2014 - 2018) it took the price 3 years to test the previous ATH . That was at the end of 2017. 2 months later Bitcoin made new ATH and that initiated the start of the final (and more aggressive) parabolic rise towards the current ATh which is $19800.

If the same pattern plays out this time also, then towards the end of 2020, Bitcoin should test the current ATH and a couple of months later break it. Plausible? Certainly, considering we have the 3rd Halving in May 2020. Notice also how a -4o angle trendline from the ATH of each Cycle applies Resistance and keeps the price below it until only a few months before the ATH test.

Do you think the $19800 ATH will be tested towards the end of 2020 or you have a more bullish/ bearish prediction? Let me know in the comments section!

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Great idea as always TradingShot! I hope you don't mind if i share my daily update here

I doubt it.
+1 Reply
@kardia, Fair enough kardia. What is your year end prediction? I always enjoy your input on my ideas.
+1 Reply
kardia TradingShot
@TradingShot, I don't pretend to have it all figured out like most people on here. I find it is best to deal with the current price and base trading decisions on that. It would be better if you wouldn't post such charts. All it does it play on people's emotions. Frankly, I think TV would be better off removing crypto-related stuff from its platform and only sticking to stocks and the Forex market.
+2 Reply
We are also looking at long-term targets and projections... See them here:
+1 Reply
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