Bitcoin to 18k just in time for US Election.
It could happen!!
Why?
This year, we are seeing a very similar chart pattern from February 8 2019 to June 14 2019. (I have copied the chart pattern and pasted it below 2020)
As you can see, it is very similar,
We can see accumulation phase and then advancing phase.
On May 29 2019, Bitcoin pulled back to the 20 moving average before going higher.
Currently, we are seeing the same move.
On August 18 2020, Bitcoin started pulling back to 20 moving average and we are there now.
THEREFORE, AS LONG AS BITCOIN CAN STAY ABOVE ALL THREE MOVING AVERAGES (20,50,200) LIKE 2019 AND DOESN'T CLOSE BELOW 10,500.
There is still a chance that this chart pattern can continue.
If this does play out, we could see 18k Bitcoin around November 4th.
Just in time for the US Election!!
It could happen!!
Why?
This year, we are seeing a very similar chart pattern from February 8 2019 to June 14 2019. (I have copied the chart pattern and pasted it below 2020)
As you can see, it is very similar,
We can see accumulation phase and then advancing phase.
On May 29 2019, Bitcoin pulled back to the 20 moving average before going higher.
Currently, we are seeing the same move.
On August 18 2020, Bitcoin started pulling back to 20 moving average and we are there now.
THEREFORE, AS LONG AS BITCOIN CAN STAY ABOVE ALL THREE MOVING AVERAGES (20,50,200) LIKE 2019 AND DOESN'T CLOSE BELOW 10,500.
There is still a chance that this chart pattern can continue.
If this does play out, we could see 18k Bitcoin around November 4th.
Just in time for the US Election!!
