Hello folks!
As noted the H&S pattern has been invalidated. This could be a good thing as the climb up for the right shoulder would have given more breathing room for the bears to further dump price in a slow bleed. We are not too far from the end of this particular $8500 to $X target. My opinion has been that it'll end at $5500, let's see. I hope you learn from my analysis and make smart decisions for yourself. Cheers!
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Below are rules for the next bull run and my target for the end of this bear cycle and the beginning of the next bull cycle
Here is my formula for the next bull run:
1. Make exchanges safer for investors
2. Regulation needs to come in
3. Strong catalyst such as starting ETFs or government(s) moving money into crypto
4. Clean up fraud and manipulation in the market
5. Mass adoption and use from retail consumers and corporations
6. Panic + capitulation to bring price down significantly
7. More direct fiat on-ramps built for the novice retail consumer to get in on crypto
8. Get weak hands out of the market and put BTC 1.93% and alts in the hands of strong investors who believe in this space
If we check off all the 8 points above fairly successfully, I believe we are ready for the next bull run.
When will this happen? Just a guess: If the past is any indication anywhere from 3 months to another 9 months.
What will be the bottom? Just a guess: Somewhere between the $3500-4500. I came up w/ this range because BTC 1.93% has a history of retracing 80-90% from its previous bull cycle beginning price. Also, there is significant support around this range as well as the 100 MA (weekly).
Please see my post here to see where BTC may be headed:
My opinion is the bottom for Bitcoin 1.93% will not be a straight drop and then reverse (V bounce). I think this market will bleed to the point where people just lose all hope and this takes a long time to accomplish. Whether this is 3 more months or another full year. It will happen eventually.
I am bullish in BTC 1.93% in the long-run but for now I am still bearish and have been since Feb/March.
Fun prediction: I think we over the next few months we go to low $5000 and break under that 786 fib mentioned in my analysis above. We spent the next few months under this level and finally start the next bull run around March 4, 2019. How did I come up with that date?
Read Jake Chervinsky's Twitter on his BTC ETF decision delay calculation.
As noted the H&S pattern has been invalidated. This could be a good thing as the climb up for the right shoulder would have given more breathing room for the bears to further dump price in a slow bleed. We are not too far from the end of this particular $8500 to $X target. My opinion has been that it'll end at $5500, let's see. I hope you learn from my analysis and make smart decisions for yourself. Cheers!
----
Below are rules for the next bull run and my target for the end of this bear cycle and the beginning of the next bull cycle
Here is my formula for the next bull run:
1. Make exchanges safer for investors
2. Regulation needs to come in
3. Strong catalyst such as starting ETFs or government(s) moving money into crypto
4. Clean up fraud and manipulation in the market
5. Mass adoption and use from retail consumers and corporations
6. Panic + capitulation to bring price down significantly
7. More direct fiat on-ramps built for the novice retail consumer to get in on crypto
8. Get weak hands out of the market and put BTC 1.93% and alts in the hands of strong investors who believe in this space
If we check off all the 8 points above fairly successfully, I believe we are ready for the next bull run.
When will this happen? Just a guess: If the past is any indication anywhere from 3 months to another 9 months.
What will be the bottom? Just a guess: Somewhere between the $3500-4500. I came up w/ this range because BTC 1.93% has a history of retracing 80-90% from its previous bull cycle beginning price. Also, there is significant support around this range as well as the 100 MA (weekly).
Please see my post here to see where BTC may be headed:
My opinion is the bottom for Bitcoin 1.93% will not be a straight drop and then reverse (V bounce). I think this market will bleed to the point where people just lose all hope and this takes a long time to accomplish. Whether this is 3 more months or another full year. It will happen eventually.
I am bullish in BTC 1.93% in the long-run but for now I am still bearish and have been since Feb/March.
Fun prediction: I think we over the next few months we go to low $5000 and break under that 786 fib mentioned in my analysis above. We spent the next few months under this level and finally start the next bull run around March 4, 2019. How did I come up with that date?
Read Jake Chervinsky's Twitter on his BTC ETF decision delay calculation.
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