Have you ever believed in BTC being valued more than $20,000?
What few years ago seems like an impossibility, in the few next weeks can be reality.
From the past we can see that 20EMA on weekly chart is Bitcoin's good friend and it's known as a strong uptrend line.
Based on history, it seems like the price of Bitcoin is going to test $20.000 level for sure as that's the first real resistance area, but will it break it on first try?
Big expectations, many people are waiting for this moment.
A retest of price $20.000 per Bitcoin
Based on history, it looks like Bitcoin will test this ATH and then retrace all the way to 20 EMA resulting in flash crash with over 35% decrease in less than two weeks.
This move will scare a lot of non skilled traders, holders away, but that will be a very bad idea to sell and I will guarantee you, these people will buy back above 20k per BTC!
No matter how much bullish BTC is, a correction to retest 20 EMA is very, very likely to happen so keep that in mind, expect this flash crash some time in future.
After the ATH is broken, still nothing is won as in the history when ATH was tested, it was broken but quickly seen another 35% drop, which can also occur this time.
Overall if you are looking to buy some BTC, please don't invest with one big amount, rather dollar cost average this amount with few smaller orders each day in a week or in similar fashion.
Shortly about indicators.
20 and 50 EMA and 50 and 200 EMA's are in uptrend.
RSI broke recent high, very bullish.
MACD buying volume is still increasing, possibly the top of wave will be located at 20k per btc.
A very exciting times we living in, let's see how it goes after Bitcoin is above $20.000!
One thing I really like, that we don't know the resistance levels above $20.000 which lead into a real bull run!
From the past we can see that 20EMA on weekly chart is Bitcoin's good friend and it's known as a strong uptrend line.
Based on history, it seems like the price of Bitcoin is going to test $20.000 level for sure as that's the first real resistance area, but will it break it on first try?
Big expectations, many people are waiting for this moment.
A retest of price $20.000 per Bitcoin
Based on history, it looks like Bitcoin will test this ATH and then retrace all the way to 20 EMA resulting in flash crash with over 35% decrease in less than two weeks.
This move will scare a lot of non skilled traders, holders away, but that will be a very bad idea to sell and I will guarantee you, these people will buy back above 20k per BTC!
No matter how much bullish BTC is, a correction to retest 20 EMA is very, very likely to happen so keep that in mind, expect this flash crash some time in future.
After the ATH is broken, still nothing is won as in the history when ATH was tested, it was broken but quickly seen another 35% drop, which can also occur this time.
Overall if you are looking to buy some BTC, please don't invest with one big amount, rather dollar cost average this amount with few smaller orders each day in a week or in similar fashion.
Shortly about indicators.
20 and 50 EMA and 50 and 200 EMA's are in uptrend.
RSI broke recent high, very bullish.
MACD buying volume is still increasing, possibly the top of wave will be located at 20k per btc.
A very exciting times we living in, let's see how it goes after Bitcoin is above $20.000!
One thing I really like, that we don't know the resistance levels above $20.000 which lead into a real bull run!
