WaltrAlexander

Bitcoin to 12k - History Repeats

Short
COINBASE:BTCUSD   Bitcoin
Lets dump it to 12k! Before I begin, I’ll explain why we’ll go to 12k. Let’s compare the Dot Com bubble to this Crypto bubble. Back in the year 2000, the Nasdaq dumped 82% after the tech bubble popped. If you combine the dot com bubble along with the Law of Diminishing Returns, you get a crash of 82%. An 82% crash from the Ath puts us at about 12k. Bitcoin is gaining mass adoption, but we have to weed out the weak projects. A lot of cryptocurrency’s were overvalued just like the tech stocks were back in the year 2000. Wave C will take us down to 12k. If you don’t want to time the bottom, I personally would aim to buy around 12-14k. Good luck. This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, RSI, Momentum, and resistance/support zones combined with patterns.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.