VincePrince

What Can We Expect from Bitcoin in The Upcoming Year 2020?!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Hello my friends, first of all, I want to thank all my followers and supporters for the great participation in my analysis provided 2019.
Hopefully, everybody of you had a good good good Christmas time with friends and family and will join the year 2020 with good energy. This is very important!

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Today I want to talk about bitcoins price-movement in the upcoming year 2020 and what we can expect from the next 12 months.
There is an important long-term formation forming which you can see in my chart that could provide when confirmed a bullish year 2020.

When we are looking at my chart we can see a big cup and handle formation forming and which can confirm next year.
We can see right now the price is consolidating above several important support bases.

135-EMA: It is a substantially important indicator in the formation right now. As you can see in my analysis the price is trading right above the 135-EMA in purple
you can see in my chart. Which first of all is a good sign. It is highly likely that the EMA will hold and confirm as support.

200-EMA: When the 135-EMA cant hold there is an important other EMA that can confirm future support. The 200-EMA is marked in orange as you can see in my chart.

Cup and Handle Pattern: There is a huge massive cup and handle formation forming which confirms when the pink box which you see in my chart is touched.
The target in my chart will be valid when the cup and handle formation confirmed. The minimum target of such a formation is the lower and higher point of the cup

You can see all the important indicators described in the legend which I provided in the chart. There is also the 23.6 & Fibonacci retracement in which we are trading right now.
Also what is significant to look at are the blue speed support lines which indicate a stable up-trend in the long run. You can see the lines marked in my chart in light blue trend-lines.
These lines marking an uptrend and are drawn from the lows of several key levels which confirmed as support in the past. When a line of these speed lines are broken this could
indicate a change in price direction so when considering a possible bearish reversal we have to watch out for these levels to confirm.

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This analysis is used to describe the price-direction of a full year from beginning 2020 to the end of 2021. It shows the highly likely scenario of price movement the next year.
Hopefully everybody enjoyed, may you have a great time and good start in the next year my friends ;) Feel free to support for more market insight.

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Comment: "Trading doesn't just reveal your character, it also builds it if you stay in the game long enough."
Comment: Information provided is only educational and should not be used to take action in markets.
Comment: Information provided is only educational and should not be used to take action in markets.
Comment: Happy New Year!
Comment: Happy New Year!
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Comments

cryptospawn alpdemalp
@alpdemalp, interesting to see how btc RSI has dipped hard at the end/beginning of the year every four years so far. Thank you for the view.
+1 Reply
VincePrince alpdemalp
@alpdemalp, Thanks for sharing
Reply
VincePrince alpdemalp
@alpdemalp, Happy new year
Reply
I think we are coming back to 5400

+2 Reply
VincePrince Cryptonite_trader
@Cryptonite_trader, Thank you
Reply
Impressive chart, the 135D MA you spotted is good. For the mid term I reckon breaking ATH this year soon. Check my analysis and share your views.
+1 Reply
VincePrince Cryptorphic
@Cryptorphic, Thanks for sharing, how did yours setup played out?
Reply
sure. put it all in crypto
+1 Reply
@mbc47, Why not? You are welcome
Reply
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