Crystal Ball View on the Big Four BTC / ETH / LTC / ADA
It's been a rocket ride up these last couple of days. Here my quick view on the next couple of days and some initial insight on maybe how to orient yourself on movement of market.
Some technical stuff first. I find the 168 hour moving average (basically the weekly) to be a good indicator for levels of pullback. It is close to the often used 4h 50 moving average, but matches more closely the historic pull backs.
The Bollinger bands appears also a very good indicator to predict the path (more in another post on Bitcoin soon). The baseline of the Bollinger band can also be an indicator for a pull back level. Also the upper band of the Bollinger band is where in the parabolic phases of these crypto bull markets the price tends to hover around (while with volatility of course).
Bitcoin I see wanting really bad to reach $40k. I expect it will do so today or tomorrow. Then it would be natural for a big downward correction of around 30% with reaching about 28k or thereabouts.
Bitcoin is on a crazy parabolic run with a bit of an unexpected fast pace. It does however indicate that it will likely aim for new ATM above $100k. Still the charts of BTC scream "correction pending".
Be fully aware that we are in the parabolic growth cycle phase of Bitcoin (and the market overall). Most are aware $100k is the expected target and many would argue it will go way above that, e.g. $300k.
The time frame for that is about until August 2021. It would appear with the recent massive gains that all this may come 3 month early so towards May 2021 already.
Be ready for massive short term gains (within a day or days) and the same but less frequent to the downside. We will see a bunch of times time frames with 10, 20 or 30% drops in Bitcoin price.
Right now I would not be surprised if we would see it for a week or up to three after we hit $40k. I will provide a forecast view on Bitcoin's path in some of my next ideas.
Ethereum ( ETH ) I expect to move past it's all-time high soon. After that it may pullback to make the former ATH a support level and then it will likely outperform Bitcoin with a target at $10k-$12,5k.
Litecoin ( LTC ) has still some resistance levels to crack to go full parabolic and reach new ATHs, but it is on track and will crawl up over the $200-218 resistance level.
Cardano ( ADA )
ADA will climb and create new ATHs here you can orient yourself on the 168 hour moving average and the Bollinger band.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
Some technical stuff first. I find the 168 hour moving average (basically the weekly) to be a good indicator for levels of pullback. It is close to the often used 4h 50 moving average, but matches more closely the historic pull backs.
The Bollinger bands appears also a very good indicator to predict the path (more in another post on Bitcoin soon). The baseline of the Bollinger band can also be an indicator for a pull back level. Also the upper band of the Bollinger band is where in the parabolic phases of these crypto bull markets the price tends to hover around (while with volatility of course).
Bitcoin I see wanting really bad to reach $40k. I expect it will do so today or tomorrow. Then it would be natural for a big downward correction of around 30% with reaching about 28k or thereabouts.
Bitcoin is on a crazy parabolic run with a bit of an unexpected fast pace. It does however indicate that it will likely aim for new ATM above $100k. Still the charts of BTC scream "correction pending".
Be fully aware that we are in the parabolic growth cycle phase of Bitcoin (and the market overall). Most are aware $100k is the expected target and many would argue it will go way above that, e.g. $300k.
The time frame for that is about until August 2021. It would appear with the recent massive gains that all this may come 3 month early so towards May 2021 already.
Be ready for massive short term gains (within a day or days) and the same but less frequent to the downside. We will see a bunch of times time frames with 10, 20 or 30% drops in Bitcoin price.
Right now I would not be surprised if we would see it for a week or up to three after we hit $40k. I will provide a forecast view on Bitcoin's path in some of my next ideas.
Ethereum ( ETH ) I expect to move past it's all-time high soon. After that it may pullback to make the former ATH a support level and then it will likely outperform Bitcoin with a target at $10k-$12,5k.
Litecoin ( LTC ) has still some resistance levels to crack to go full parabolic and reach new ATHs, but it is on track and will crawl up over the $200-218 resistance level.
Cardano ( ADA )
ADA will climb and create new ATHs here you can orient yourself on the 168 hour moving average and the Bollinger band.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
