First thing first i am very bullish on BTC and i believe BTC for long term. That doesn't mean it won't fall down much lower.
I am structure engineer and i like to look things from wide perspective. That means there is falling wedge structure here.(Falling wedge continuation pattern) And it can breakout 3 different ways for me.
1st: It can break this falling wedge this april. Its already above 55 ema and all we need is really big volume. If break it will be golden cross about a month later(Which is bullish sign).
In reality, i think this trend line won't broken in april. Because there is no altcoin rally so far.(Which isn't sign for bull trend). And there is no big volume.
2nd: This one is the most probable one for me. It can start with altcoin rallies, big volume increases. Price will be around 2600-3200 which means under 200EMA and 55EMA. It is attractive price for new buyers.
New buyers mean is new volume.
3rd: This one. Nobody wants to see this price on BTC except bears. There is thin line between attractive price and disbelief. This one will disbelief i think. I hope this one won't be necessary but if happens it will be around end of 2019 or beggining of 2020.
and price action around like $1800. I can't imagine what will altcoins' price.
Like i said this is my perspective. It's not a financial advice. I just wonder how this pattern works.
I am structure engineer and i like to look things from wide perspective. That means there is falling wedge structure here.(Falling wedge continuation pattern) And it can breakout 3 different ways for me.
1st: It can break this falling wedge this april. Its already above 55 ema and all we need is really big volume. If break it will be golden cross about a month later(Which is bullish sign).
In reality, i think this trend line won't broken in april. Because there is no altcoin rally so far.(Which isn't sign for bull trend). And there is no big volume.
2nd: This one is the most probable one for me. It can start with altcoin rallies, big volume increases. Price will be around 2600-3200 which means under 200EMA and 55EMA. It is attractive price for new buyers.
New buyers mean is new volume.
3rd: This one. Nobody wants to see this price on BTC except bears. There is thin line between attractive price and disbelief. This one will disbelief i think. I hope this one won't be necessary but if happens it will be around end of 2019 or beggining of 2020.
and price action around like $1800. I can't imagine what will altcoins' price.
Like i said this is my perspective. It's not a financial advice. I just wonder how this pattern works.
Trade active:
first scenario comes first and breakout happening. i am so glad that first scenario come true. because i dont want to wait 2nd or 3rd options. like i said i am very bullish on BTC and sudden volume and altcoin rallies come with new bullrun. enjoy with your holdings.