martin1000

BTC NEXT MOVE - and conclusions

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Traders

Today more about expecting drop and summary and conclusions from the first quarter of the year.
We need to look back to 17.12 when first drop has happened.
No 1 (see chart) .
That was violent BTC lost half of value and half of buyers.Drop has last 5 days and whole period to second drop was 29 days.
Now please look at two mountains 1a and 1b look at the shape you can see that mountains look long and narrow with steep slopes and a well-defined summit that can tell us that people have been believed that BTC can back to the top but there was not enough buyers and BTC dropped again.
No.2
This time BTC lost 1/3 of its value and more buyers. Drop has last 2 days and whole period to third drop was only 20 days.
Now lets look at the mountains 2a and 2b, this mountains are lower a special 2 b is very gentle. That all means that no many buyers left on this market, some of them has been focused on altcoins and those who stayed has been waiting for another drop to earn on rebound.
No.3
Drop No 3 has last 2 days and again took 1/3 of the value and so far it is last for 37 days!
Now 3a &3b mountains or hills they have more of a rounded mound shape rather than a distinct peak so what this can tell us. Many people believed in BTC again there was a hope for bull run, but..... unfortunately it looks like without new buyers BTC will not be able to climb on higher level and will drop again no 4.
My conclusion based on this experience.
We can see improvement and there is a hope for stabilization, cycle no.3 is much longer and less violent, that can attract more buyers. If that will not happen we can expect another cycle with drop no.5 and then maybe price will be the motivator to attract new investors.
And now this is what you have been waiting for and what probably everyone knows :) we can expect drop to 6000$ level I do not see bigger drop in price because of this what we can see in the cycle no.3.
Then again another mountains to climb with hope for longer run - BULL RUN.

Happy Trading.

This is for education purpose only.

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