Trading Bitcoin has been the most painful experience of my life, the pain is not from the gains or losses, the pain is from uncertainty. Here I have 6 possible scenarios of what can happen and we are very close to the pivotal moments in this whole game. These scenarios range from the most bullish to the most bearish, we will see what the market decides. I have made two channels (both are assumptions but they can become reality in no time). We will. The combination of these two channels makes a rising wedge.
Scenario 1: We have already started the next impulse up and the lows were set in June 2018. If this is the case the chart simply does not look like 2014, it looks more like 2013. In simple words the real big short is still to come. Target is 40k. The volume simply doesn’t support it atm.
Scenario 2: Highly Unlikely but possible. We hit 5.2k for a very brief period start our ascent to 400k+.
Scenario 3: Very Likely. We hit 5.2k and make a slow progress to 100k by 2020.
Scenario 4: Most Probable. We hit 5.2 k and then slowly go to 28k by 2020 and next bull run starts from there.
Scenario 5: Most bearish. This will be a dream come true for bears and for institutional investors. We hit 1200$ by 2020. I am not sure what will happen to make it happen but it is a possibility.
Scenario 6: If we follow 2014 fractals we jump to 10.5-11k and trap all the bulls and ultimately go to 1200. I have circled the areas where I think we are compared to 2014.
In any case 5.2 k is make or break since it touches the all time uptrend line from the inception of bitcoin. Time will tell.
PS: this is not trading advice and merely represents speculative scenarios.
Scenario 1: We have already started the next impulse up and the lows were set in June 2018. If this is the case the chart simply does not look like 2014, it looks more like 2013. In simple words the real big short is still to come. Target is 40k. The volume simply doesn’t support it atm.
Scenario 2: Highly Unlikely but possible. We hit 5.2k for a very brief period start our ascent to 400k+.
Scenario 3: Very Likely. We hit 5.2k and make a slow progress to 100k by 2020.
Scenario 4: Most Probable. We hit 5.2 k and then slowly go to 28k by 2020 and next bull run starts from there.
Scenario 5: Most bearish. This will be a dream come true for bears and for institutional investors. We hit 1200$ by 2020. I am not sure what will happen to make it happen but it is a possibility.
Scenario 6: If we follow 2014 fractals we jump to 10.5-11k and trap all the bulls and ultimately go to 1200. I have circled the areas where I think we are compared to 2014.
In any case 5.2 k is make or break since it touches the all time uptrend line from the inception of bitcoin. Time will tell.
PS: this is not trading advice and merely represents speculative scenarios.
Using the BTC prehistoric indicator just changes the whole scenario. It looks like we have already broken the all time uptrend line and currently re-testing it.