Dude56
Long

The Bitcoin tale- The run of the new economy paradigm!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I won't go much in Fundamental reasons for these price moves as I truly believe in Bitcoin in long term and the adoption that it will receive from all sides making these totally possible and likely to happen.

Move 1 :
Currently happening . Upside move expected to 12000$-12500$ area.
Resulted by the fomo from people who missed the bottom and accumulation of this new move.
Move 2:
Correction and sideways in 8000-12500$ range before next wave up.
Fomo calms down for a while and bulls tends to collect profits in top to rebuy and accumulate more longs in the dips from short term traders/shorters.
Move 3 :

Upside move to 16500$-17000$.
Second move after the accumulation to retest a strong resistance/last ATH . Lots of holders and people from move 2 and maybe move 1 collecting profits thinking that the run is over.
Move 4 :

Straight/fast correction to 9K-10K
Result from move 3 people start selling fast as they think the ride is over and they don't want to miss the time for selling because they know Bitcoin can be volatile.
Move 5( The strongest one) :

Upside move to 20K$ breaking ATH . Fomo will be unreal and will target 48K$-50K$
After the panic selling Bulls load more longs than ever and start the run for the new price discovery. Fomo will take in and should push it up to 40-50k levels.

This is completely long term vision dudes so don't expect this to happen just like that. This will take some time!


Will be fun to track this idea and see how it plays out for the next months.
Comment: Timing can be wrong but price action should be like that .
Are we completing wave 4? Do you think a dip to 6500 is need to go up to moon?
Reply
Dude56 Ginossim
@Ginossim, we did not finish even move 1.
Reply
Simply AWESOME !! ;) ... I expect the Mars Mission soon too !!
+2 Reply
Dude56 lorenzo_lotto
@lorenzo_lotto, Let's ride brother
Reply
Two legs of the pump are completed. BTC likely to take a break and make a pull-back.

+1 Reply
Dude56 CopilotThe
@ElCopilot, You are looking shor term. Mid term we wil ride it up.
Reply
@Dude56, Yeah sure. I totally agree that over the long-term the price is very very likely to increase. But right now, there are bearish signs for the crypto market. However, you never know in crypto.
Reply
Dude56 CopilotThe
@ElCopilot, I like the short term right now. Expecting wave up to 9K very soon before another small retrace.
Reply
@Dude56, Agree. A short with a SL above $8,000 makes a lot of sense given the bearish signs in the charts and what happened in the previous days.
Reply
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