- Bitcoin finished 2017 at precisely 13,880
- Bitcoin began 2018 at precisely 13,880
- 13,880 marked precisely the peak of the recent upward swing for Bitcoin
Credit Clif High from HalfPastHuman.com who called this as a significant price achievement for Bitcoin to happen by Feb 2018. Clif made this call very early in 2017 when Bitcoin was still trading below $2000 by memory and Clif even gave himself a tidy 30+ day window since the price milestone was achieved on Dec 13st and Jan 1st. Whats remarkable is how the price was such a meaningful number on the monthly candle chart.
Do you spend most of your time viewing charts of hourly or daily candles? May I suggest that in doing so we are caught up in the minutia, and we are missing the bigger picture, and we're missing the play book that the market makers are using. Consider pulling up a WEEKLY candle chart of BTC/USD ( has the longest data history for Bitcoin ) and add the 21 and 35 day to the chart and see when the market makers are buying the dips during momentum runs (21 ) and corrections (35 ). We have already bounced off the 35 and we're resting there one more time before we run higher. The cross over of the 21 and 35 serves as a lagging indicator of market direction signalling an opportunity to add or subtract from your position depending on the direction of the price action. Notice these lines have not and don't appear to be crossing any time soon, meaning the upward momentum will likely resume shortly as long as the 35 on the weekly candle chart holds as support. Take a look at my most recent post entitled "Bitcoin has yet to experience a bear market" showing how the recent top in Bitcoin is NOT the same as the Dec 2013 top which signalled the beginning of a 2 year retracement within the upward trending channel. Market makers are taking Bitcoin from the fearful on each and every dip, like today's! Don't do business with them.
I recommend HalfPastHuman.com for insightful possibilities for 2018. Trade based on your own analysis.
Happy investing everyone, Bitcoin and crypto have an exciting year ahead!!
Love AND peace!