Hello Friends, it's time to talk about our beloved Bitcoin, The Destroyer of the State monopoly on Money!
It is obvious from my analysis, that the long term prospect of the Neo-Currency is ULTRA BULLISH.
However, as we can see, Bitcoin has established a certain major growth pattern, by slowly but surely rising up the support levels, determining IT'S MINIMUM PRICE.
We are now in the scenario that we've seen already, with the asset behavior pattern circled in pink, where we get a "collapse" of bitcoin after a massive triangle forming, which is in fact getting it back to the next safe level of support, to accumulate power for future growth!
So, my prediction is that we are gonna see a local pulldown to the MAJOR SUPPORT LEVEL 2, with the subsequent stabilization on the level, and a rapid growth to the new highs.
The probability of that is around 65%
There is also a chance, that given the Fed cutting rates to zero in the next year, with other Central Banks following suit, is inevitable, and the recession rather likely to hit in the next 16 months, given the yield curve inversion, we might see the appetite for the alternative money to jump, lifting Bitcoin to further hight. So, we might actually see the triangle break up, and higher without looking down, with 35% probability.
Both scenarios can be seen on my chart.
It is obvious from my analysis, that the long term prospect of the Neo-Currency is ULTRA BULLISH.
However, as we can see, Bitcoin has established a certain major growth pattern, by slowly but surely rising up the support levels, determining IT'S MINIMUM PRICE.
We are now in the scenario that we've seen already, with the asset behavior pattern circled in pink, where we get a "collapse" of bitcoin after a massive triangle forming, which is in fact getting it back to the next safe level of support, to accumulate power for future growth!
So, my prediction is that we are gonna see a local pulldown to the MAJOR SUPPORT LEVEL 2, with the subsequent stabilization on the level, and a rapid growth to the new highs.
The probability of that is around 65%
There is also a chance, that given the Fed cutting rates to zero in the next year, with other Central Banks following suit, is inevitable, and the recession rather likely to hit in the next 16 months, given the yield curve inversion, we might see the appetite for the alternative money to jump, lifting Bitcoin to further hight. So, we might actually see the triangle break up, and higher without looking down, with 35% probability.
Both scenarios can be seen on my chart.