We've been super busy getting a few things together and updated for the business recently, so first of all, apologies for the lack of Ideas & Forecasts recently! I hope you'll all understand!
We thought we'd get back into the game with this long range prediction of Bitcoin on the . Things have been looking good recently with the price of bitcoin ; until we hit that major level of resistance that has been plotting since the highs of 2017. Things look like they might be about to fall lower from this level down to the next support which would appear to be @ ~$8000.
Given the nature of S/R triangles this trend may well continue, bouncing upward and downward from level to level but ultimately following the trend of the triangle until the "pinch point".
Over the course of the next 5 or 6 months we could be seeing lows of around $5000! I know that sounds like a drastic and mammoth price movement from where we are right now, but bear in mind that 99% of people lose their money when trading, and there are plenty of people that have gone in Long with the Halving speculation from $6000 - (almost) $10,000. You need to be in the 1% that is not going to get wiped out or liquidated in the coming months.
I don't want that to frighten you off! Just play it safe, there's plenty of shorter term trades to be made that will be hugely profitable within the next half-a-year or so, get on those trades, take your profits on both Longs and Shorts - and expect things to reach pinch point before an explosion upward!
Our Crypto Tipster is currently showing a Short, and with longer term trades like this, it's normally right! Especially when combined with our Chop & Trend indicator too, which is also showing red signals.
Good Luck & Happy Trading