Hi all you guys - thank for support me in my way and promise update Bitcoin analysis everyday for all you. These update not only about a short term and middle term analysis but also about psychology ; action of market ; strategy making profit and long term analysis with Cycle Economic.
Sure with you that we all read some post have been public before about long term target for Bitcoin . Today I happy to introduce my update LONG TERM ANALYSIS for Bitcoin with logical thinking and Cycle Economic.
In this post I may not using much Indicator ; just look at the price action - zone with psychology analysis that will give us very clearly vision in long term when we compare with the last crisis of Bitcoin .
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Okay so let me help me understand about this analysis by consider each part of this chart.
First, help me reveal fast about the chart of Bitcoin in 2014 - 2015 with the chart of 2018 - 2019 in future. What do you see ? ( Read careful )
Yes right, we are not over the downtrend at now. Why ? Keep look at . What similar ? Yes, we all have Pattern in both price and . But the different is we have divergence between Left Shoulder and Right Shoulder. This is clearly signal for the true bounce up of market.
I just tick “ WE ARE HERE “ in 2014 so you can compare with now that we need another bottom with lower price for this market right now. In we are now in Left Shoulder and the Head will occur in next time.
I draw very clearly and exactly price line for each wave of Bitcoin and you will see about the long term and compare with 2014. We may have long time for Pattern occur and over ( approximately 1 years ), and this is also being an accumulation zone for new Cycle of Bitcoin .
So the question is : Which price level is the lowest bottom for Bitcoin ? Actually it is hard for predict about how market panic and sell ? But compare with 2014, after we have bounce back we down more 64.98% ( - 86% than ATH ) so 19xx$ may the target if we compare with 2014 as well as - 58/37% after bounce back ( -90% than ATH )
I divide Phrase 1 and Phrase 2 in both 2 cycle when Bitcoin break down the important support and we are in Phrase 2 with 50% of complete downtrend period.
Look at the upper left conner, that is psychology cycle, are I think we are just end of Capitulation so next will be Despair zone if Bitcoin come to 19xx$.
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With similiar success you could play a coin or predict movement of flies walking on the wall.
Any projection into the future, based on historical data doesn't sound logic.
You could bet on suport/resistance lines, draw many fancy lines, channels etc.- but as I said before, it is just betting on unpredictable.
And should be treated as guess.
I would not bet my money on a someone's guess. And for sure not on the something like BTC.