Hi there. In this chart you can observe the year-after-year growth percentage and values of Bitcoin vs. the U.S Dollar on Coinbase between January 1st 2015 and May 22nd 2019. Another thing you can see on here, is the long term support levels and resistance points that have been confirmed over time. On top of that, feel free to a take a look at the FIB levels provided throughout chart. This will help you identify your entry and exit points. If that’s not enough for you, I’ve also found certain trends and channels within the MACD and RSI respectively. This leads me to believe that Bitcoin is bullish on the long-run and on the monthly but a brief drop to the 61.80% FIB retracement level of $7083.99 (61.80% FIB level) or $6504.00 (previous support) before continuing its rally towards the re-test of $8427.70 and potentially onward to $9792.00, $11281.00 and $13893.00 is imminent.
RSI has hit historic top overbought levels twice recently. A top that has been seen throughout the last 5 years as a clear signal for a bearish reversal. Not necessary in the long term but most definitely guaranteed to come shortly afterwards ; according to the data. It’s retrace (for the RSI that is) is usually to the FIB level of 23.90% or back completely to zero or what in music mixing we could call unity-level (fun fact!). This usually translates to an RSI level of between 21.00-29.50. Keep your eyes open for that range.
MACD is much due for a turnaround divergence. Both historic data points have been left behind and surpassed dynamically. (See vertical lines on MACD indicator)
Lastly, and only as a point of comparison, YTD percentage-growth in 2019 has already passed 2015 & 2016’s FULL YEAR growth and quickly recovering at a much faster rate than it dropped during 2018. Of course we all know the big winner here was 2017 with a whopping percentage growth of over 2200% that easily dwarfed the fluctuation average of all the years analyzed. That average was only of 127%, which we are far ahead at this point.
That’s it. Hope you found this TA useful and easy to interpret. Remember to make your own informed decisions and to consider this as a personal point of view and in no way is this professional financial advice. Facts are facts. Projections are projections. Cheers!
RSI has hit historic top overbought levels twice recently. A top that has been seen throughout the last 5 years as a clear signal for a bearish reversal. Not necessary in the long term but most definitely guaranteed to come shortly afterwards ; according to the data. It’s retrace (for the RSI that is) is usually to the FIB level of 23.90% or back completely to zero or what in music mixing we could call unity-level (fun fact!). This usually translates to an RSI level of between 21.00-29.50. Keep your eyes open for that range.
MACD is much due for a turnaround divergence. Both historic data points have been left behind and surpassed dynamically. (See vertical lines on MACD indicator)
Lastly, and only as a point of comparison, YTD percentage-growth in 2019 has already passed 2015 & 2016’s FULL YEAR growth and quickly recovering at a much faster rate than it dropped during 2018. Of course we all know the big winner here was 2017 with a whopping percentage growth of over 2200% that easily dwarfed the fluctuation average of all the years analyzed. That average was only of 127%, which we are far ahead at this point.
That’s it. Hope you found this TA useful and easy to interpret. Remember to make your own informed decisions and to consider this as a personal point of view and in no way is this professional financial advice. Facts are facts. Projections are projections. Cheers!