The expansionary phase top is in! The wicks have been printed and a beautiful free market supply/demand masterpiece unfolds before our eyes...
In our Special Report: Cryptonomics we had projected a re-accumulation phase range of 6K to 9K (seen in our previous post). We are excited to see Bitcoin far outperform our projection (we attribute this to the fact that we did not anticipate this high level of demand).
This was a true show of the economic force of INCREASED DEMAND (All those who at 3k waited for 2 and at 6K waited for 4 and at 9K waited for 8!) on the price per Bitcoin as the FOMO phase kicked into high gear above the 10K levels leading to a phenomenal expansion phase top at 13.9K!
Since then Bitcoin has set a local low at $9080 with a higher low at $9108 creating a flat angle floor perfect for continued (re) accumulation from 9k to 12K (within wedge).
Strong Volume Profile SUPPORT at 8K. (If we get there, open 25x LONGS! Haha) In all seriousness, 4 digit Bitcoin is a steal and a prime contract opportunity. Not advice.
We continue to expect to see volatility within the trading range, dollar cost averaging on red days mitigates that risk. Even if we break through the wedge, we will consolidate into a new wedge to either break up or down again within the outlined ranges.
A strong proof for our theory of INCREASED DEMAND is the increased usage of the BTC network. Blocks have been sealing faster and therefore the projected halving date is now MAY 17, 2020 (a FULL WEEK - 7 DAYS sooner than in our last update). This opportunity window may very well continue to shrink from both sides as time goes on and as demand increases and blocks get filled!
Be prepared for a potential halving date of MAY 7, 2020 perhaps even sooner...
That places the 180-Day Window anywhere between Nov 1, 2019 to Nov 17, 2019.
Learn about the MASSIVE MOMENTUM OPPORTUNITY this specific timing offers and more in our free Special Report: Cryptonomics @ CIADC.co