This pattern shows that BTCUSD is trading on its new long term support zone. Using the Ichimoku Cloud as a prime leading indicator, we can identify key trend signals and many similarities between Bitcoin's last two bear cycles (2014/15 and 2018/19).
First of all the cloud's squeeze (October - December 2014 and September - November 2018) was a Sell Signal to the strong decline that led to the 1st cycle's (2014/15) bottom and what could be the current cycle's (2018/19) bottom. As the cloud widened in 2015 it gave two Buy Signals, one that signified the bottom and the next that signified the start of the next bull market. The channel's support lines show where these pressure points can be found. The resistance line shows where the next target is and that is at 11000 (on a 15 month period). This is the first bullish target of the Distribution Period. The peak of the next bullish market is according to those indicators well above 40000.
I do not like when bears not showing any activity. This could't end good.
VBAmaster
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This chart looks elegant, let's see how it goes.
TradingShot
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@VBAmaster, Yes as always, time will tell. But I will trust my buy signals. I have been very bearish this whole bear market, now it is time to turn sensible again and look at it as a long term investment.
WBM_Team
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Using indicators accurately you can earn money like John. 50% ROI within a couple of weeks. No stress.
TradingShot
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@WBM_Team, I am not against promoting your 50% ROI but please at least do it in a more indirect way. Camouflage it. Drop at least a comment related to the author's post. Otherwise I am afraid you are going against the House Rules.
WBM_Team
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@TradingShot, thank you for a tip. You might be right. Anyway, we like your analysis :). Thank you.
Boon2
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BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture.
TradingShot
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@Boon2, This set up is not impossible but not more likely than my prediction according to the support that is provided by the previous bottom .