Why I believe Bitcoin will retest All Time Highs by July 1, 2020
Sawcruhteez Strategies: How to BUY THE DIP | Advanced Dollar Cost Averaging Methods
EMASAR: Buy $8,158
Patterns: Schematic 2 of Wyckoff Accumulation
Bear channel: Horizontals:
Resistance: $8,300 | $8,600 | $9,300
Support: $8,000 | $7,800 | $7,600
Trendline: Also see above.
Lucid SAR: If looking for SAR based on Welles Wilder’s original calculations then use “Lucid SAR” on Trading View.
Broke weekly Lucid SAR on Monday for the first time since March 2019. First time it’s been since July 2019.
Average Directional Index: Weekly is getting a DI crossover for the first time since March 2019. 4h is rolling over indicating that a short term correction or sideways consolidation is to be expected.
Index: Weekly is getting ready to test 50.
Curve: Rolling up below 0. Looks quite similar to January 2019.
Cloud: Price inside daily cloud with TK Cross. Watching for kumo twist and kumo breakout.
Curve: Contango with 2.74% spread
Funding Rates: Longs pay shorts 0.01%
TD’ Sequential: Pull back from 4h 9. Daily on a 7 with a reversal candle.
Summary: Hello everyone, long time no see! Hope that you all had a great holiday season and are excited to hit the ground running in 2020. I sure know I am!
This is an important update because it is the first time I have bought BTC since June. There are a number of important indicators which lead me to have a high degree of confidence that the bottom is in.
We recently had a golden cross with the 4h 50 and 200 EMA’s. We brokethrough a Weekly Lucid SAR for the first time since March 2019. We got a DI crossover on the for the first time since March 2019.
We are also back above the 50 on the Daily and Weekly. The Curve is rolling up below 0 and looks very similar to the first couple months of 2019.
EMASAR signaled it’s first buy since February 2019:
Perhaps most importantly we have rested the logarithmic trendline for the first time since March 2019:
The similarities between now and when Bitcoin was below $4,000 are far too significant to ignore.
Furthermore we are at the final stages of a Wyckoff Accumulation pattern. If this current pullback finds support above $7,600 then it would provide the signal of strength and the pattern would be complete. If it consolidates into some sort of then that would be ideal.
Also I’m starting to pay close attention to the 6 & 12 month cycles that BTC likes to go on. January 2018 marked the top of the bull run and January 2019 marked the bottom. 6 months later on July 1st 2019 we hit the local top.
I am expecting this pattern to continue and think that January 2020 will mark the bottom of the last 6 month bear market.
With the halving right around the corner I believe that this will be the best time to buy BTC since 2016. Buy the hype, sell the news, buy the dip. If this was accumulation then we should not fall back below $7,300. If that happens then I will be looking to exit.
I will end this post by making a new bold prediction and reaffirming one made previously. I expect Bitcoin to retest all time highs by July of 2020. It will take some time to breakthrough that level but I fully believe we will before the end of the year.
I also a holding onto my longer term target of $150,000 Bitcoin by May 2022.