Few people realize it, but the cryptocurrency markets have already topped.
After doing some analysis on the previous Bitcoin rally, I have come to the conclusion that the next bubble top will be near 300,000 USD. While the support for that rally will be 80,000 USD.
This analysis is pure speculation, and is flawed because I have not taken other factors into consideration. The only reason I am posting this is because traders ask me what my expectations are for the Bitcoin bottom.
The curves drawn are just there to give a general idea. Do not take the curve lines seriously. The top and bottom are calculated using fibonacci lines.
I am aware there is a possibility 6000 is the bottom, but looking at the previous bear market, the 200 MA acted as resistance and the bottom was similar to a Wyckoff Accumulation. So far there is no signs of bottoming long term unless we can start breaking previous highs.
i believe Bitcoin will rally near the next halving in 2020, and the top will be 300,000. If you play the cycles right you can make a substantial amount of money. Volatility is still pretty high so it is a goldmine for traders.
Thanks for viewing!
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I believe the first part of this idea is going as planned.
Buy when it enters the accumulation zone. We will stay in that area for the next year.
Currently 11 19 2018
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Second part of idea going exactly as planned.
Currently 2-10-2019.
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I believe in the future I will come back to this chart, and it will feel surreal. This is one of the reasons I love trading. There is something beautiful in this.
Really nice chart and idear!
Meets my point of view too:
lisek15lisek
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Nobody is going to sell you Bitcoin at 4k.
Nobody is going to sell you something that will be worth a lot more in the future.
HD1184K
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@lisek15lisek, The people who sell at 4k are the same who sold 171 USD 4 years ago.
lisek15lisek
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@Xzhi, anyone who knows anything about the history of Bitcoin won't sell you that cheap. We would have go really low for people to start panicking and by really low I mean 1-2k or lower.
This outcome would be worth waiting for :D I'm actually not fussed if we spend the next few years in a bear/accumulation market to hit those new highs - it gives me more chances to stock up!
Do you see something like this playing out faster if the world "adopts" crypto/BTC markets more than they have currently? It seems like we've been on the cusp of adoption for a while now (e.g., greater general awareness, more use cases, more partnerships with non-crypto organisations, ETF applications, etc) - it's hard to believe we won't see some strong upward movement if there's a breakthrough in that regard.
I do see that happening. The ETF being accepted would be pretty bullish.
UnknownUnicorn2774089
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@realJutsin, We have had 10 years and BYC is not really adopted by anyone apart from those manipulating the price. Last year the vibe was Amazon was going to accept BTC as a payment method, well did that ever happen? If you have BTC on your phone there is literally no where where you can use it. It's becoming a joke.
realJutsin
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@LeoKim, Yeah, I hear what you're saying. I actually don't think adoption of BTC as a payment solution will happen until several more years (if at all). However, I do think it's possible that BTC and Crypto markets in general may eventually be adopted as trading and investment options (of course, this would only come after a fair bit of bureaucracy and regulation, so it's hardly going to be "soon").
Overall, it makes sense that BTC would boom with adoption as either a payment solution or as a new tradeable asset class. Unfortunately, neither is guaranteed, and only the latter option seems likely!
Meets my point of view too: