BITCOIN to 20.000$ ? We are on our way en here is why! MUST SEE!
Dear traders,
I have prepared an analysis of Bitcoin on the longer term. You can see here Bitcoin with an MACD on a weekly time frame basis and a MACD on a daily basis.
If we go back in time for a moment, we got a sell signal in the weekly MACD on January 25 2018. The price of Bitcoin did not move higher after that but continued to fall with botteming out until October 24, 2018. It was a correction of 82% This was THE time to buy!
The next sell signal of the weekly MACD was on August 30, 2019. The following period we got a correction of 64%. Again the perfect place to buy for longer term!
Currently, we got the sell signal of the week MACD on April 23, 2021.
Compare the chart yourself. The daily MACD is currently NOT showing any positive divergence so this correction is probably going to continue for some time before we see bigger pullbacks. That is ofcourse just a scenario because we are talking here on longer time frames.
Traders, this does not imply that there will be no rebounds. But the long term picture and prices above 65000 can in my personal opinion be forgotten for a longer period.
I understand traders who don't believe this scenario but this is my view on it. I believe Bitcoin will climb to 300.000 $ in the future only it will not go in one line. We do have corrections needed for a stable growth in price.
So According to my personal analysis, with Bitcoin, we can see a possible bottom in the period January to July 2022 with a price target of 20000!
Where and how do I get that number of 20000? First it was a milestone and extemely important keylevel in 2018. It is also the top from now with a 65% correction ( the minimum correction from the last 2 correctiosn). The time is just what happened in the past from the moment the MACD signal was given untill the final bottom and Bitcoin went up again!
That is minimum 6 months and maximum 12 months if and only if history repeats it self. But that is where TA is based on and never forget it does not work always and for 100% but you will have a big edge on traders who don't see the bigger picture!
Guy's as said already, this hypothese is my personal view on Bitcoin. It is not investment advice but a hypothesis that I believe has a very good chance of happening. I respect everyone's opinion even if it is different. That is why there are bulls and bears and the market is always priced correctly because there is as much demand as supply. The market also always comes back to the longer term average. My view on Bitcoin for the long term is very bullish because Bitcoin is only limited in circulation namely 21 million coins can be mined but again that will probably happen from next year only.
Would love to hear your idea's and view on Bitcoin traders. What is your view and most important why! An idea is good but without analysis it says nothing of course.
If you like my work please support it by following me and giving me thumbs up. That will motivate to continue with analysing the charts! Thanks!!!
I wish all of you good trading and profits!
I have prepared an analysis of Bitcoin on the longer term. You can see here Bitcoin with an MACD on a weekly time frame basis and a MACD on a daily basis.
If we go back in time for a moment, we got a sell signal in the weekly MACD on January 25 2018. The price of Bitcoin did not move higher after that but continued to fall with botteming out until October 24, 2018. It was a correction of 82% This was THE time to buy!
The next sell signal of the weekly MACD was on August 30, 2019. The following period we got a correction of 64%. Again the perfect place to buy for longer term!
Currently, we got the sell signal of the week MACD on April 23, 2021.
Compare the chart yourself. The daily MACD is currently NOT showing any positive divergence so this correction is probably going to continue for some time before we see bigger pullbacks. That is ofcourse just a scenario because we are talking here on longer time frames.
Traders, this does not imply that there will be no rebounds. But the long term picture and prices above 65000 can in my personal opinion be forgotten for a longer period.
I understand traders who don't believe this scenario but this is my view on it. I believe Bitcoin will climb to 300.000 $ in the future only it will not go in one line. We do have corrections needed for a stable growth in price.
So According to my personal analysis, with Bitcoin, we can see a possible bottom in the period January to July 2022 with a price target of 20000!
Where and how do I get that number of 20000? First it was a milestone and extemely important keylevel in 2018. It is also the top from now with a 65% correction ( the minimum correction from the last 2 correctiosn). The time is just what happened in the past from the moment the MACD signal was given untill the final bottom and Bitcoin went up again!
That is minimum 6 months and maximum 12 months if and only if history repeats it self. But that is where TA is based on and never forget it does not work always and for 100% but you will have a big edge on traders who don't see the bigger picture!
Guy's as said already, this hypothese is my personal view on Bitcoin. It is not investment advice but a hypothesis that I believe has a very good chance of happening. I respect everyone's opinion even if it is different. That is why there are bulls and bears and the market is always priced correctly because there is as much demand as supply. The market also always comes back to the longer term average. My view on Bitcoin for the long term is very bullish because Bitcoin is only limited in circulation namely 21 million coins can be mined but again that will probably happen from next year only.
Would love to hear your idea's and view on Bitcoin traders. What is your view and most important why! An idea is good but without analysis it says nothing of course.
If you like my work please support it by following me and giving me thumbs up. That will motivate to continue with analysing the charts! Thanks!!!
I wish all of you good trading and profits!
Comment:
IMPORTANT UPDATE
Guys, I have analyzed the market and I come to the following conclusion for now.
I personally close my LONG positions if the price of Bitcoin closes below 40000 with a day candle.
For the ALT coins this is also very important because if Bitcoin starts to dive then the ALTS will go down much faster.
However, I am now expecting a recovery and that is perfect for the ALTS an BTC but it is temporary. The long term picture looks bad for Bitcoin.
I will keep you posted but note that level of 40000! Recovery I expect in Bitcoin to 50 max 52000 USD before we start another ride down!
Disclaimer Traders this is my view no advice to buy or sell. Also, always do your own research!
Guys, I have analyzed the market and I come to the following conclusion for now.
I personally close my LONG positions if the price of Bitcoin closes below 40000 with a day candle.
For the ALT coins this is also very important because if Bitcoin starts to dive then the ALTS will go down much faster.
However, I am now expecting a recovery and that is perfect for the ALTS an BTC but it is temporary. The long term picture looks bad for Bitcoin.
I will keep you posted but note that level of 40000! Recovery I expect in Bitcoin to 50 max 52000 USD before we start another ride down!
Disclaimer Traders this is my view no advice to buy or sell. Also, always do your own research!
Also here in the charts, the last corrections from Bitcoin.