History tends to repeat itself and bitcoin has done this before more than once, the last time it had a similar drop in value and had a period of several months before a steady rise. Looking at the weekly chart I believe that bitcoin has bottomed out at $3000 and will be range bound up to $5000 dollars (roughly) for several months before rising up to the $6000 mark, a key resistance point. Once it gets there, the expectation of halving, the renewed confidence and greed will push the price upwards to break this key resistance point, once broken an upward trend will resume and then BOOM.
* The A/C line shows there is still strong accumulation.
* Previous downtrends have done the same, with similar percentage losses
* Confidence will begin to build up again as the Crypto space has hit despair.
* Expectations of bitcoins reward halving (about 300-400 days)
* History repeats itself and Bitcoin is growing and taking root more than ever before.
* Bitcoin still rules the darknet and provides security for those around the world whose national currencies are worthless so Bitcoin won't just go to zero.
The above is my opinion ONLY. If you got a counter view then hit me up, I'm a total novice by the way to all those super traders.
* The A/C line shows there is still strong accumulation.
* Previous downtrends have done the same, with similar percentage losses
* Confidence will begin to build up again as the Crypto space has hit despair.
* Expectations of bitcoins reward halving (about 300-400 days)
* History repeats itself and Bitcoin is growing and taking root more than ever before.
* Bitcoin still rules the darknet and provides security for those around the world whose national currencies are worthless so Bitcoin won't just go to zero.
The above is my opinion ONLY. If you got a counter view then hit me up, I'm a total novice by the way to all those super traders.
Trade active:
Consolidating a position in Bitcoin so this is an active trade with a consolidation period of 5-6 months +
Trade active:
Bitcoin has risen but will fall back down to support lines.
Trade active:
OK so BTC has performed far more than expected, at the time of posting this I remember "all the pro's" saying it will crash more :), feels good to be right and we are now 6-7 months from my original post and this trade is working out very well. Looking at the charts now, I expect this to continue to rise over the next 4-5 months with the halving on the way in May. Any falls will be consolidation and short term.There is potential for a drop to 8000 but it is also just a likely to rise to 12-14k with the recent RSI divergence on the daily giving weight to a continued bull.
Trade active:
Still active - Expecting 20k by end of June.
Comment:
I was bang on here, check out my line :). 1-2 weeks left on this monster Trade.