Take a look at previous Bitcoin movements. My opinion we need to see the BB's compress more before we see significant long term upward movement. If history repeats itself again, within 1.5-3 years we are looking at $50,000 Bitcoin value.
The chart speaks for itself.
If the price goes through the MA200 and the strong demand zone, just short it to 800-1200$ support zone.
Until it happens, BTC could already be in its consolidation zone.
I thought it was time to make a longterm chart, with all these wrong charts going around, hehe.
They are wrong because bitcoins support and resistance lines are NOT linear in the logarithmic chart.
I think that the correct fit is a square root function in the logarithmic chart, meaning that the growth is slowing down on long timescales. BTC cannot just continue ...
Much to the delight of my gf, I spent most of the weekend researching the importance and how to correctly draw lines of support and resistance (S & R). After I felt I had a good understanding, I immediately applied them to a weekly Bitcoin chart. I have used a weekly chart as oppose to a monthly due to the detail needed for drawing such trend lines. I'm sure this ...
Wake up! It's obvious from this view that no matter who states otherwise... BTC IS FALLING!
In order for things to improve a few things MUST happen:
1. Break above the current 50 EMA calculated by the 1D candle. This will act as the first resistance level .
2. Break above the 100 EMA (same logic as above).
3. Break above the 200 EMA (same logic as above). ...
Bitcoin is getting ready
Obvious descending wedge .. breakout to the upside, target is there also.
'Capitulation' already happened, volume spike
'Whale-wallets' are becoming active to fuel it
HIT THE LIKE BUTTON (even if you don't like it)
.. i need a chart for "Told you so" in the future (in order to be a good anal-ist, you need to be able to brag ...