This is based on both the weekly and monthly timeframes.
There is an analysis that I keep on going back to because it is really reflecting what is happening now and can continue to happen in the coming weeks, the next month.
Based on the trade idea below, we still have room for even higher prices next month for Bitcoin ...
Let's have a look: Nov. 19 | Bitcoin Monthly $300k | TD Sequential (8+9 = 1 = Higher High)
Bitcoin is clearly having a parabolic run and there are no signs of it stopping.
The next target is set at $29890 ($30,000).
When we look at the indicator, we can see that there is clearly room for so much more.
The real action is yet to start.
Institutions are now getting into Bitcoin big time.
Every day there is lots of news about new funds making Bitcoin available to its customers/investors/clients.
Even the banks, which are highly opposed to Bitcoin and Cryptocurrency as they know they will be replacing them, are considering and opening crypto services for its customers. Maybe those banks that support crypto are the ones that will survive, we can't say for sure but most of them will be gone in a few decades.
The fiat printing will go on its own bull run in 2021 and beyond which is a very strong signal for Bitcoin and the entire cryptocurrency markets.
We will see something we haven't seen ever before.
If you think what is happening is big...
Doesn't really feel that way...
What is coming will blow your mind as all the predictions will be left behind and we will end up being too conservative as usual and prices will grow 10X, 20X, 30X or more above the last ATH for most coins.
In this chart I am mapping additional targets for all the Bitcoin fans.
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I don't feel any FOMO here.
I agree it's going up and may never look back, hard to call the top though vs consolidation key level.
I personally don't think it'll ever go lower than 20-22k. Sentiment is too strong, shorts are bent right now. Majority of big bags are institutions and the herd is just slowly warming up, these guys will want to bring this thing up there to whatever the valuation is to their standards to call it a store of value, safe haven or so. Shake the small guys out, bring it up to a point of minimal volatility.
Small bag holders, retail investors, and traders I think are reactive vs really trading on technicals.I don't know if any small retail investor wants to get ran over here, buying back is hard to clock. Too much at stake for small guys to make errors here, it trades 24 hrs too. So realistically, hard to really time it. The higher the price the less you'll think of even messing with your bag unless the obvious bubble happens. Again it'll be reactive. Alt coins, yeah probably you can trade more.
Just my opinion but great to see everyone's point of view and charts for guides.
Everything helps, thank you.
There is lots of disbelief and for as long as this continues to be, the prices will continue to increase.
We are seeing quite a few of these where 30K is the final target... We will see how it goes.