Bitcoin is still in this Wyckoff Accumulation Pattern.
Feel free to leave a short comment should you habe any questions.
The depicted Wyckoff Pattern should not be put into perspective to the month long Wyckoff Accumulation Pattern!!
This should be more understood as a trading range.
And yes, Wyckoff himself often wrote, that his method works very well for...
Bitcoin is still trading in my previous discussed no-trade-zone.
Looks like BTC is forming a bearish chart pattern, with a technical target of 30.000 USD, should we brake to the downside.
Reaching the technical target would also mean a retest of my lower no-trade-zone line. A brake below this line and I expect Bitcoin to go to about 22.000 USD - 24.000 USD.
With Bitcoin braking the symmetrical triangle to the downside I had seen it as a high probability that we will test the 21 week EMA, before the uprend continues.
On my previous published chart you can see why this can be considered very likely:
After touching 30.000 USD...
My 2021 Bitcoin priceprediction: Bitcoin will reach 100.000 USD before the end of this year!
What do you think? Will Bitcoin reach 100.000 USD before the end of this year? 👍/👎 (Yes/No)
I would appreciate your feedback and comments.
Depicted is the long term uptrend since 2013 on a logarithmic scale.
The chart shows, that during the last bull market 2016/2017 a retest of the 21 week EMA occurred 95 per cent of the time after the stochastic RSI run in the overbought area. It would therefore not be unreasonable to assume that sooner or later the Bitcoin price will retest the 21 week...
Bitcoin will brake out of the depicted triangle pattern in the next upcoming months, lately by the end of this year.
In the last months, Bitcoin showed extreme bullishness, by braking the multi-year resistance and the 10.000 USD level.
Recently we saw healthy correction and retested the 10.000 USD level, from where we bounced of.
So where is Bitcoin...