Bitcoin Right On Schedule - Next Target $16k - January Forecast
Hi Traders,
I think this is a great time to add to BTC long position. We are very close to breaking lose of this descending channel on the weekly, and the daily timefreame is already flirting with a potential re-test. The Halvening is only 4 months away, at which point supply side gets cut in half, and daily buyside support cuts from $100 million to $50 million in order to sustain current prices. (This is super bullish fundamental event and rather predictable). The stock market rally shows positive signs of positive investor sentiment towards risky assets. The federal reserve is basically implementing QE4 right now, discretely through the repo repairs instead of a full on bail out. (remember Bitcoin was created in 2008 right after financial crisis when QE1 kicked off). There is noo where for interest rates to go but down, which is bullish for gold and bitcoin due to the lesser opportunity cost of capital, and so many other reasons.
Everything I see points to a bullish Bitcoin, including the TA! All you need to do is control what is in your power to control - manage risk appropriately, stick to your strategy and let time do its thing. Hope to see you guys at the next check point.
Best of Luck, Hit thumbs up.
I think this is a great time to add to BTC long position. We are very close to breaking lose of this descending channel on the weekly, and the daily timefreame is already flirting with a potential re-test. The Halvening is only 4 months away, at which point supply side gets cut in half, and daily buyside support cuts from $100 million to $50 million in order to sustain current prices. (This is super bullish fundamental event and rather predictable). The stock market rally shows positive signs of positive investor sentiment towards risky assets. The federal reserve is basically implementing QE4 right now, discretely through the repo repairs instead of a full on bail out. (remember Bitcoin was created in 2008 right after financial crisis when QE1 kicked off). There is noo where for interest rates to go but down, which is bullish for gold and bitcoin due to the lesser opportunity cost of capital, and so many other reasons.
Everything I see points to a bullish Bitcoin, including the TA! All you need to do is control what is in your power to control - manage risk appropriately, stick to your strategy and let time do its thing. Hope to see you guys at the next check point.
Best of Luck, Hit thumbs up.
